South Korea regulation could cost US states $525 billion, model finds

NEWYou can now listen to Fox News articles! A new model shows devastating economic losses for U.S. companies if South Korea adopts controversial legislation that would regulate transactions with some American firms as lawmakers warn that the country’s leadership is now “closely aligned with China.” The Online Platform Fairness Act, which is spearheaded by the Korea Fair Trade Commission (KFTC), has gained steam in in the Asian nation and is backed by far-left South Korean President Lee Jae-myung. A Competere Foundation model estimates a $525 billion loss in economic activity in U.S. states over the next decade, including a $123…