Google is negotiating with South Korea's antitrust regulator, the Fair Trade Commission (FTC), to offer a cheaper YouTube Premium plan that excludes YouTube Music, to address concerns over alleged anti-competitive practices, Yonhap News reported Thursday.

The move follows the FTC's accusation that Google restricted consumer choice by forcing users to pay for both services.

Under a proposed corrective measure, the FTC may suspend its probe if Google's revised action is considered adequate, 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.)