SEJONG, Aug. 17 (Korea Bizwire) – After non-governmental organizations suggested that merchandise related to idol groups was overpriced, the Fair Trade Commission (FTC) announced that they have started an investigation. The Seoul YMCA conducted research on the price of idol group merchandise, and requested that the FTC launch a formal investigation. The target of investigation was [...]
SEJONG, July 30 (Korea Bizwire) — South Korea’s antitrust watchdog ordered six local iPhone repair companies Thursday to change their customer service rules that unfairly restrict the rights of users. UBase, Peach Valley, Beyond Tech and three other firms cited for unfair practices are all official repair companies authorized by tech giant Apple to service its [...]
SEOUL, May 14 (Korea Bizwire) — As car leasing grows in popularity in Korea, Korea’s fair trade authority announced that it has corrected several unfair practices in use by leasing firms, including the shifting of registration and acquisition taxes to customers. The Fair Trade Commission (FTC) exposed the unfair practices that burdened customers with unwarranted taxes. [...]
SEJONG, Apr. 28 (Korea Bizwire) — South Korea’s antitrust watchdog said Tuesday it is investigating multinational software giant Oracle Corp. about its possible unfair trading practices related to its database management system (DBMS). The investigation into the local unit of California-based Oracle, which has been under way for months, is focused on two areas of [...]
SEJONG, Apr. 13 (Korea Bizwire) — South Korea’s antitrust watchdog said Monday it has slapped a combined 7.5 billion-won (US$6.85 million) fine on a German car bearing company and a Japanese auto parts manufacturer for Illegal price rigging. According to the Fair Trade Commission (FTC), Schaeffler Korea, a wholly owned subsidiary of a German automotive bearing [...]
SEJONG, Feb. 12 (Korea Bizwire) – South Korea’s antitrust regulator is considering launching a probe against Qualcomm Inc. for possible abuse of its market dominant position, officials and market sources said Thursday. Industry sources said the Fair Trade Commission (FTC) is mulling over whether to conduct an official investigation of the San Diego-based company for [...]
SEJONG, Feb. 10 (Korea Bizwire) – South Korea’s antitrust watchdog said Tuesday it will abide by a Supreme Court ruling that would force it to give back 119.2 billion won (US$109.2 million) it took as fines from two local oil refiners who were accused of distorting free market competition. The court overturned actions taken by [...]
SEJONG, Feb. 5 (Korea Bizwire) — South Korea’s antitrust authority said Thursday it reopened a review on the merger between Microsoft Corp. and Nokia’s devices and services business to preempt any potential market distortions and ensure fair competition. In the “consent decree process” expected to last at least three months, the Fair Trade Commission (FTC) [...]
SEJONG, Feb. 1 (Korea Bizwire) – South Korea’s antitrust watchdog said Sunday it will be looking at global tech companies that may be abusing their monopolistic control to disrupt fair competition in the local market, a move some insiders say may extend to Google and Apple. “The plan is to check the information technology and [...]
SEOUL, Jan. 25 (Korea Bizwire) – Companies that offered financial compensation to bloggers who wrote recommendation posts, including Sony Korea, Boryung Pharmaceuticals, Eva Airline, HanbitSoft, Hyundai Livart and other small operators in medical and IT fields., were dealt harsh fines by the regulation authorities. On January 22, the Fair Trade Commission (FTC) announced that corrective [...]