SEOUL, Jul. 5 (Korea Bizwire) – A recent report from the Organization for Economic Cooperation and Development (OECD) has disclosed that counterfeit products violating the intellectual property rights of South Korean firms total $9.7 billion each year, a staggering 1.5% of the nation’s overall exports. The study, commissioned by the Korean Intellectual Property Office (KIPO) and [...]
SEOUL, Apr. 22 (Korea Bizwire) – Dozens of South Korean fashion labels including thisisneverthat have formally launched a new association aimed at cracking down on counterfeit products, particularly those flowing in from China’s e-commerce platforms. According to industry sources, small and medium-sized fashion brands have joined forces with online fashion retailer Musinsa to establish the “Brand [...]
SEJONG, Mar. 25 (Korea Bizwire) – Over the past five years, South Korean customs authorities have seized imported counterfeit goods worth over 2.1 trillion won, with products originating from China accounting for a staggering 1.8 trillion won, highlighting an influx of intellectual property violations. According to data from the Korea Customs Service released on Friday, the [...]
SEOUL, Jan. 24 (Korea Bizwire) — The Korean Customs Service has detected carcinogenic substances, including lead and cadmium, in counterfeit earrings being distributed in the country. In November of last year, the agency intercepted 142,930 items infringing intellectual property rights, including counterfeits imported into South Korea. Upon analyzing 83 products that come into direct contact with [...]
SEOUL, Oct. 17 (Korea Bizwire) – A warning has been issued regarding counterfeit products being sold on Naver’s Smart Store portal. It has been revealed that up to 300,000 counterfeit products, including fake Chanel perfume containing urine, are being sold on Naver’s portal. According to the ‘Status of Counterfeit Product Detection by Online Platforms’ issued by the [...]
SEOUL, Feb. 13 (Korea Bizwire) — The value of fake luxury goods that were imported to South Korea over the past five years stood at more than 2 trillion won, a lawmaker has said, with counterfeit Rolex products accounting for the largest share. According to the data that Rep. Yang Kyung-sook of the Democratic Party [...]
SEOUL, Jan. 25 (Korea Bizwire) — The number of counterfeit South Korean banknotes fell to a record low in 2020, the Bank of Korea (BOK) said Monday, as the coronavirus pandemic caused a decline in cash usage. Last year, the number of fake banknotes found in South Korea came to 272, down 6.8 percent from [...]
SEOUL, Nov. 29 (Korea Bizwire) — Security label technology for clothing that can prevent “label replacement” in which counterfeit items are disguised as genuine has been unveiled. The state-run Korea Minting, Security Printing and ID Card Operating Corp. (KOMSCO) showcased technology to make labels for clothing using fibers containing special security materials during a briefing [...]
SEOUL, Sept. 5 (Korea Bizwire) — A report released by the Korea Customs Service on September 4 revealed that 8,607 of 9,853 counterfeit goods seized were made in China. The yearly report on the black market for counterfeit goods stated that the total number of counterfeit goods seized by the agency declined by 3 percent [...]
SEOUL, Feb. 15 (Korea Bizwire) – The Korea Institute of Machinery & Materials announced Wednesday that researchers have developed a new engraving technology, using lasers, to prevent counterfeit crimes of expensive goods such as high-end watches or gold. According to senior researcher Noh Ji-whan, by overlapping two separate laser beams, the team was able to [...]