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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.
www.scmp.com
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.

TikTok slapped with fine in South Korea over mishandled user data
South Korea’s telecommunications regulator said TikTok violated laws for collecting children’s personal information without parental consent and for not notifying users about transferring their data to servers overseas.