Google plans to launch YouTube Premium Lite, which is a lower-cost, video-only subscription plan, in South Korea as part of a corrective action to resolve an antitrust probe by the country's Fair Trade Commission (FTC).

The new plan, priced at 8,500 won/month for Android users and 10,900 won for iOS, excludes music streaming and offers ad-free video access, Yonhap News reported Tuesday.

The move follows FTC accusations that Google's bundling of YouTube Music with Premium limited consumer choice.

Google will also freeze subscription prices for a year and establish a 15 billion-won fund to support South Korea's music industry. The FTC will decide on Google's proposal after a 30-day public comment period ending Aug. 14, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)