Abstract
The concentration of economic power threatens to
erode not only consumer welfare, but also citizen
welfare, such as the sustainability of democracies
and the guarantee of individual freedom. The digital
media platform companies that have emerged in recent years already have significant economic and
media resources, and in addition to their economic
dominance, they are also gaining political influence.
If the present situation remains unchanged, the danger of a decline in citizen welfare could become apparent.
This article argues that the introduction of new
economic regulatory rules is necessary to prevent a
decline in citizen welfare resulting from the concentration of economic power in digital media platform
companies. The article then proposes three possibilities as new economic regulations: 1) strict application
of conduct regulations in Antitrust Act, 2) separation
of platforms and commerce, and 3) enactment of
new regulatory Acts to ensure platforms neutrality
and fair redistribution of their advertisement revenues.
