Saenuri Party proposes ‘Naver Act No. 1“

Aug 28, 2013, 09:21 am

Lawmaker Lee No-Geun proposes revision that forces portals to differentiate between ads and search results. Naver's revenues from search ads is expected to reduce significantly.

On August 23, Saenuri Party congressman Lee No-Geun attended a press conference and claimed that independent lawmaker Rep. Ahn Cheol-Soo's career as a dean of Danguk University school of medicine is false, at the National Assembly building in Seoul.

On August 27, Lee No-Geun of Saenuri Party proposed "Naver Act No. 1", which will force portals like Naver to differentiate between advertisements and search results online.

Lawmaker Lee proposed revision to the 'Act on Promotion of Information and Communications Network Utilization and Information Protection' to help Internet users recognize advertisements and search results.

Currently, when an internet user searches for something on portal, the one exposed at the very top is the one that paid the most money, causing serious damage to internet users and small firms. Last year, Naver made a profit of 1.2 trillion won by its keyword search advertisement.

The measures are expected to significantly reduce related revenues of large portals like Naver.

Under the proposed revision, portals will be required to introduce technical measures to distinguish commercial information and non-commercial search results.

Saenuri Party's lawmakers Kim Yong-Tae, Park Min-Sik, Park Dae-Chul, and others are preparing 'Naver Act' to reduce damage by Naver monopoly.

#Saenuri Party #Naver Act