S. Korea to limit excessive payments to livestreamers

South Korea will pursue revisions to its Telecommunications Business Act to prevent excessive payments to livestream broadcasters after reports of financial damage to users.

According to the Korea Communications Commission (KCC), it will strengthen user protection by requiring video streaming platforms to set payment limits, prevent illegal transactions, strengthen protection of minors, and operate a user protection service.

Last year, an elementary school student paid livestreamers on local platform Hakuna 130 million won without parental consent. The family has since received a full refund from the company with KCC's intervention.

The KCC wants parental consent to be given to minors beforepaying livestreamers, along with a monthly payment limit.

Video streaming platforms, such as YouTube and local rival Afreeca TV, operate live payments, allowing viewers to tip broadcasters in real-time.

The KCC currently implements payment guidelines for online broadcasters.