YouTube recently announced that it will increase the monthly fee for YouTube Premium, its ad-free video viewing service, by 43% from 10,450 won (VND 195,000) to 14,900 won (VND 278,000).
Previously in September 2020, YouTube increased the price of YouTube Premium from 8,690 won (162,000 VND) to 10,450 won (195,000 VND) in this market.
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| YouTube Premium in Korea increased its price by 43% to 14,900 won. |
Meanwhile, Netflix has yet to raise its service fees, but in November, the company sent a notice to Korean account holders about an additional 5,000 won fee for sharing an account with someone who does not live in the same household.
The Korea Communications Authority said it will conduct an investigation into whether YouTube and Netflix violated the relevant Telecommunications Business Act, which deals with price increases, terms of use and user notifications.
If violations are found during the inspection, the authorities will move on to a fact-finding mission. If violations are confirmed, the Korea Communications Commission will take action based on applicable laws.
The Yoon Suk Yeol administration is requiring digital service providers to set reasonable terms of service and fees so that customers can use the services at affordable prices.
As a result, domestic carriers have launched various 5G plans, and smartphone makers are planning to launch devices priced between 400,000 won and 800,000 won by 2024.
Speaking to reporters at a press conference last week, Minister Lee said the ministry had been negotiating with carriers to reduce telecommunications costs, but the burden on users had increased because of Google and Netflix’s price increases. “It would be better if they explained why they had to increase prices and went through a process so that users would understand,” he said.
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