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Major Cosmetics Firms Fined for Misinforming Consumers on Social Media

Major Cosmetics Firms Fined for Misinforming Consumers on Social Media

SEOUL, Nov. 26 (Korea Bizwire) — Several major cosmetics companies were found guilty for misinforming consumers after paying influencers on social networks like Instagram to promote their products. The Fair Trade Commission (FTC) ordered seven companies including AmorePacific Corp., LG Household and Health Care Ltd, and L’Oreal Korea to pay 269 million won (US$228,740) in [...]

New Social Media Account a Boon for Convenience Stores

New Social Media Account a Boon for Convenience Stores

SEOUL, Nov. 11 (Korea Bizwire) — A “Convenience Store-gram” account, a newly coined phrase combining convenience store and Instagram, appeared on social media recently. It is an account where consumers post reviews and photos of convenience store products. On top of this, the account has had a huge ripple effect on social media with a [...]

S. Korea Beefs Up Measures Against Influencers’ Possible Tax Evasion

S. Korea Beefs Up Measures Against Influencers’ Possible Tax Evasion

SEJONG, Sept. 30 (Korea Bizwire) — South Korea said Monday that it is strengthening measures to cope with possible tax evasion by influencers and YouTube content creators. South Korea has been collecting tax information on influencers and YouTubers through various tax records and financial data on transactions provided by the Financial Intelligence Unit, an affiliate [...]

More S. Koreans Use Instagram for Brand Recognition: Exec.

More S. Koreans Use Instagram for Brand Recognition: Exec.

SEOUL, May 7 (Korea Bizwire) — An increasing number of South Koreans connect with brands on photo and video-sharing platform Instagram to find products and services, its vice president said Tuesday. “More than 60 percent of local users associate Instagram as a platform for interacting with brands, and they had positive perceptions on branded contents,” [...]

Instagram to Help K-pop Expand Globally: CEO

Instagram to Help K-pop Expand Globally: CEO

SEOUL, Mar. 11 (Korea Bizwire) — The global photo- and video-sharing platform Instagram aims to help South Korean culture, noticeably K-pop and esports, expand globally, the company’s new chief said Monday. “K-pop is much more than just music,” CEO Adam Mosseri told reporters in Seoul, emphasizing the significance of the local market as an innovation [...]

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 [...]