SEOUL, Jul. 24 (Korea Bizwire) — The Korea Fair Trade Commission revealed yesterday that Doosan Infracore, the construction machinery manufacturing arm of the conglomerate Doosan Group, was fined 379 million won for the theft of technology owned by a supplier after an attempt at imposing lower prices for products supplied by its subcontractor. The commission’s [...]
SEOUL, Jul. 12 (Korea Bizwire) — Subcontractors of Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries, and Samsung Heavy Industries, the three largest players in the nation’s shipbuilding industry, have asked the Korea Fair Trade Commission (KFTC) to carry out an in-depth investigation into illegal practices among the ‘big three’. A single committee instigated [...]
SEOUL, Mar. 5 (Korea Bizwire) — As of this month, Starbucks Coffee Korea Co. employs more than 13,000 workers in South Korea, according to a company statement on Sunday, signaling the continuing success of the coffeehouse chain. The number of Starbucks employees has jumped an incredible 325 times in the past 19 years, since the first [...]
SEJONG, Feb. 23 (Korea Bizwire) – The South Korean government is expected to adopt a group litigation system for consumers, according to a new report. According to the law enforcement reform task force report published by the Korea Fair Trade Commission (KFTC) on Thursday, the government is on course to allow consumers to file class-action [...]
SEJONG, May 29 (Korea Bizwire) — As several electronic cigarettes sold in Korea are reported to contain different nicotine content from what is claimed on the packaging, the Korea Fair Trade Commission (KFTC) is set to investigate whether some companies have made false claims. Kim Hak-Hyeon, vice-commissioner of the KFTC, said on May 28 that [...]
SEOUL, Korea, May 1, 2014 (Korea Bizwire) – Wedding halls will now have to break away from the widespread practice of “exploiting” the deposit money even when couples cancel their bookings months before their wedding day. Furthermore, wedding halls are now banned from charging excessive cancellation fees when newlyweds call off the reservation close to the wedding [...]