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 [...]
“Counterfeit goods are an inevitable part of economic development but are still like rotten apples. Time is needed to ultimately solve the problem. Counterfeits tend to be most rampant when an economy’s per-capital gross domestic product is at the US$5,000-level. China is going through such a phase that advanced economies like Europe and the United [...]
SEOUL, Dec. 13 (Korea Bizwire) – Protection measures for Korean brands in challenging intellectual property landscapes including China and ASEAN countries are being prepared, according to the Korean government, which recently announced its comprehensive countermeasures for protecting Korean brands in the global market. According to the Korean Intellectual Property Office, the number of trademark applications [...]