SouthKorea’s fine on TikTok is too cheap. The fine of 186 million won (South Korean currency) ($150,000), is 3% of TikTok’s yearly revenue. It’s like suing Bill Gates for $10.
The China based Company, Tiktok generates $5.6 billion in 3 months. The company is worth more than $100 billion according to a Reuters report. Data is precious, suing the company for $150,000 is like patting it on the back. The company is lucky, I’m not a lawyer but the fine could have been $150 million.
Tiktok is believed to sell individual accounts and also give the Government access to the data to spy on its own people. The Selling personal of personal information is a huge crime, children data is delicate in the hands of terrorists, kidnappers, child traffickers etc. The South Korean government could have done more to stop them from repeating the act.
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