SEOUL, Nov. 5 (Korea Bizwire) — South Korean small and medium-sized watch makers are crying foul after suffering from heavy losses stemming from hundreds of models of fake luxury watches selling through a popular online shopping portals. The Korea Watch Industry Association (KOWIC) said in a press release issued on Wednesday that hundreds of models [...]
SEOUL, Oct. 4 (Korea Bizwire) — Foreign companies disguised as Korean brands to piggyback on the Korean Wave are spreading overseas. Rep. Kim Gyu-hwan reported on Wednesday that the rising popularity of K-pop, K-beauty, and other Korean cultural exports have been boosting demand for Korean goods and services worldwide, which are being exploited by many [...]
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 [...]
SEOUL, Feb. 19 (Korea Bizwire) – South Korea’s customs office said on Friday it has unearthed 2.2 billion won (US$1.7 million) worth of forged smartphone accessories with Samsung and Apple logos. The Korea Customs Service said 41 suspects were booked without detention following its special crackdown kicked off in December, which discovered 38 cases of [...]