Fair Trade Commission Archives | Be Korea-savvy
S. Korea Asks Google to Change Some of its Terms of Service

S. Korea Asks Google to Change Some of its Terms of Service

SEJONG, Mar. 14 (Korea Bizwire) — Google Inc. said Thursday that it has decided to voluntarily correct many of its terms of service after South Korea’s antitrust regulator made the world’s first corrective recommendation against the U.S. Internet giant. The Fair Trade Commission (FTC) said Google should inform its users individually of changes to its [...]

Younger Students Can Take TOEFL Test Without Parents or Guardians Present: Regulator

Younger Students Can Take TOEFL Test Without Parents or Guardians Present: Regulator

SEJONG, Mar. 10 (Korea Bizwire) — Students aged 15 years or younger can take a leading English language proficiency test in South Korea without their parents or guardians being present, the country’s antitrust regulator said Sunday. The Educational Testing Service, a U.S. nonprofit organization that administers and scores the Test of English as a Foreign [...]

Supreme Court Orders Reconsideration of FTC’s US$243 mln Penalty Ruling on Qualcomm

Supreme Court Orders Reconsideration of FTC’s US$243 mln Penalty Ruling on Qualcomm

SEOUL, Feb. 11 (Korea Bizwire) — South Korea’s Supreme Court has found that a 2009 penalty decision by the state antitrust watchdog against U.S. Qualcomm Inc. was not completely lawful, sending the case back to a lower court for reconsideration, court officials said Monday. The Fair Trade Commission (FTC) fined the global chipmaker 273.2 billion [...]

New Government Regulations for Advertising Fine Print

New Government Regulations for Advertising Fine Print

SEOUL, Feb. 1 (Korea Bizwire) — The Fair Trade Commission (FTC) announced on Thursday that it had prepared guidelines for the effective delivery of disclaimers included in advertisements to prevent consumer misunderstanding. From now on, there will be fewer advertisements that mislead consumers by embedding important information in fine print. For example, when advertising an [...]

Fair Trade Commission to Investigate Online Influencers for Deceitful Advertising

Fair Trade Commission to Investigate Online Influencers for Deceitful Advertising

SEOUL, Sept. 6 (Korea Bizwire) — The Fair Trade Commission will look into online influencers who advertise commercial products on their individual social media accounts without disclosing that they are being paid for the advertisement. The commission announced yesterday that it would carry out an intensive investigation into deceptive advertisements posted on Instagram, a social [...]

Hedge Fund’s Demands of Hyundai “Unfair”

Hedge Fund’s Demands of Hyundai “Unfair”

SEOUL, Apr. 27 (Korea Bizwire) — Kim Sang-jo, the director of the Fair Trade Commission, in response to American activist fund Elliott Management Corp.’s call to restructure Hyundai Motor Group, stated that “following such demands would be going against antitrust laws.” Kim also said that Elliott’s demands were “unfair” during the Asia Future Enterprise Forum [...]

Loan Guarantees Among Conglomerate Affiliates Shrink in 2017

Loan Guarantees Among Conglomerate Affiliates Shrink in 2017

SEJONG, Dec. 28 (Korea Bizwire) – Loan guarantees among affiliates of South Korea’s large business groups sank in 2017 from a year earlier, the country’s corporate watchdog said Thursday. The total corporate debt payment guarantees made among units of 31 conglomerates reached 257 billion won (US$239 million) as of May 1, down 20 percent, or [...]

Home Shopping Channels Charge Biggest Commissions on Sales

Home Shopping Channels Charge Biggest Commissions on Sales

SEOUL, Dec. 27 (Korea Bizwire) – Home shopping TV channels charged the biggest commissions on sales this year compared with department stores, online malls and discount outlets, South Korea’s antitrust watchdog said Wednesday. Home shopping channels received an average 28.4 percent commission, the Fair Trade Commission said, citing its survey of 19 home shopping channels, department stores, online malls and large discount outlets. The comparable figures were 22 percent for department stores, [...]