Google, Meta Face Record Fines in South Korea over Privacy Violations

A 3D printed Facebook's new rebrand logo Meta is seen in front of the displayed Google logo in this illustration taken on November 2, 2021. (Reuters)
A 3D printed Facebook's new rebrand logo Meta is seen in front of the displayed Google logo in this illustration taken on November 2, 2021. (Reuters)
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Google, Meta Face Record Fines in South Korea over Privacy Violations

A 3D printed Facebook's new rebrand logo Meta is seen in front of the displayed Google logo in this illustration taken on November 2, 2021. (Reuters)
A 3D printed Facebook's new rebrand logo Meta is seen in front of the displayed Google logo in this illustration taken on November 2, 2021. (Reuters)

South Korea has fined Google and Meta more than $71 million collectively for gathering users' personal information without consent for tailored ads, regulators said Wednesday, the country's highest-ever data protection fines.

Investigations into the two US tech giants found they had been "collecting and analyzing" data on their users, and monitoring their use of websites and applications, the Personal Information Protection Commission said.

The data was used to "infer the users' interests or used for customized online advertisements", it said, adding that neither Google nor Meta had clearly informed South Korean users of this practice or obtained their consent in advance, AFP said.

As a result, Google was fined 69.2 billion won ($49.7 million) and Meta 30.8 billion won ($22.1 million).

"It is the largest fine for the violation of the Personal Information Protection Act," the commission said in a statement.

Regulators said the majority of the users in South Korea -- 82 percent for Google and 98 percent for Meta -- had unknowingly allowed them to collect data on their online use.

"It can be said that the possibility and the risk of infringement of the rights of the users are high," the statement said.

Last year, South Korea fined Google nearly $180 million for abusing its dominance in the mobile operating systems and app markets, saying it was hampering market competition.

Giant US tech companies are regularly criticized for dominating markets by elbowing out rivals, with multiple governments globally seeking to rein them in.

The European Union has slammed Google with record antitrust penalties, and also gone after Apple and Microsoft.



US Finalizes $9.63 billion Loan for Ford, SK On Joint Battery Venture

Ford cars are displayed at the 39 Thailand International Motor Expo, in Bangkok, Thailand, November 30, 2022. REUTERS/Athit Perawongmetha/File Photo
Ford cars are displayed at the 39 Thailand International Motor Expo, in Bangkok, Thailand, November 30, 2022. REUTERS/Athit Perawongmetha/File Photo
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US Finalizes $9.63 billion Loan for Ford, SK On Joint Battery Venture

Ford cars are displayed at the 39 Thailand International Motor Expo, in Bangkok, Thailand, November 30, 2022. REUTERS/Athit Perawongmetha/File Photo
Ford cars are displayed at the 39 Thailand International Motor Expo, in Bangkok, Thailand, November 30, 2022. REUTERS/Athit Perawongmetha/File Photo

The US Energy Department on Monday said it has finalized a $9.63 billion loan to a joint venture of Ford Motor and South Korean battery maker SK On to help finance construction of three new battery manufacturing plants in Tennessee and Kentucky.

The low-cost government loan for the BlueOval SK joint venture is the largest ever from the government's Advanced Technology Vehicles Manufacturing loan program. SK On is the battery unit of energy group SK Innovation.

The final award - first reported by Reuters - is one of a series of actions by the Biden administration to boost electric vehicle production before President-elect Donald Trump takes office next month, Reuters reported.

The amount is higher than the $9.2 billion conditional commitment announced in June 2023 for the BlueOval project. Trump and his advisers have been critical of the Biden administration's efforts to incentivize EV production.

"This program is essential to getting people to choose the United States of America," said Jigar Shah, who heads the DOE Loan Programs office, in an interview. "When you look at the competition that we have from China, it is very clear to me that they have used low-cost debt for a very long time to promote a lot of manufacturing capacity that has hollowed out many communities in Kentucky, Tennessee, and other states around the country."

The joint venture is building battery manufacturing facilities in Kentucky and Tennessee that will enable more than 120 gigawatt hours of U.S. battery production annually.

BlueOval SK said it has invested more than $11 billion to date in the construction of the three 4-million-square-foot facilities and plans to begin production at the first Kentucky plant in 2025 and will be ready to begin production in Tennessee in late 2025.

Asked why it took nearly 18 months to complete the loan, Blue Oval SK said the DOE undertook rigorous due diligence that had to conduct technical, market, financial, credit, legal, regulatory, and other reviews.

Earlier this month, the DOE said it is planning to loan up to $7.54 billion to the StarPlus Energy joint venture of Chrysler-parent Stellantis and Samsung SDI to help build two EV lithium-ion battery plants in Indiana.

The conditional commitment award must still be finalized and includes $6.85 billion in principal and $688 million in capitalized interest

The DOE said last month it was proposing to loan Rivian up to $6.6 billion to build a plant in Georgia to begin building smaller, less expensive EVs in 2028.

In December 2022, the DOE finalized a $2.5 billion low-cost loan to a joint venture of General Motors and LG Energy Solution to help pay for three new lithium-ion battery cell manufacturing facilities in Ohio, Tennessee and Michigan.