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One could argue that the potential ban on Tiktok in the U.S. is largely politcally motivated, but the privacy and regulatory concerns are actual and should not be overlooked.

The Korea Communications Commission (KCC) on Wednesday imposed a 186 million won (US$155,000) fine on TikTok for collecting personal information of users under the age of 14 without parental consent and not notifying users about transferring their data to servers overseas, the regulator said on its website.
 

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Very interesting read. TikTok’s main strength (and weakness at the same time) is that 80% of their users are kids aged 11-17. They are the best suited and the biggest social platform used by this generation (Snapchat is the other one but they are on the declining trend as opposed to TikTok which is rapidly growing). So while they offer a unique advertising opportunity they'll always struggle with privacy issues which are especially strict for underage people.
Of course it's worthwhile to mention that those fines and accusations are also a part of US-China trade war.
 
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