Select City

ONE Store Gains Massive Popularity In South Korea

- Updated: 22nd Feb 2021, 20:06 IST
  • 1
    Why is ONE Store becoming popular?

In South Korea, Google made some changes to the Google Play Store policy that might change the way people buy apps in the country.

The new policy will charge developers thirty per cent as a commission fee to all transaction made through the Google Play store. The decision will drastically decrease the revenue generated by developers.

Also Read: Redmi K40 Series Specifications, Design Revealed via Official Teasers

The One Store, which is owned by SK Telecom, is gaining massive user popularity over the past couple of years. Launched in 2018 the app store has reported a profit for the first time. According to reports, the transaction on the app store has grown more than ten times.

The new policy will come into effect from October this year. More than twenty-seven per cent of app developers say they will start using alternatives to avoid the commissions. The report comes from the Korean Mobile Internet Business Association.

Both the government and the opposition have united to propose bills that will limit the move by Google. The local app developers also have requested the government to do the same.

ONE Store gains massive popularity in South Korea

Also Read: Vivo S9 Launch Confirmed for March 3

Why is ONE Store becoming popular?

The ONE Store currently offers a twenty per cent commission rate, way lower than the Google Play Store. If apps use the in-built payment system, it is lowered to just five per cent. However, the difference in market share between the two is huge.

Users in South Korea spend more than 5 trillion won every year on Google Play Store. The new Play Store policy will cost people more than 156.8 billion won. The US giant based says the new policy won’t affect the majority of the developers based out of South Korea.

Also Read: Realme GT 5G Camera and Design Details Revealed via Official Posters | Cashif

Moreover, Google says the commission will be used to offer better services. ONE Store might be one of the best alternatives to the Google Play Store after the changes take place in October later this year.