SEOUL, June 19 (Korea Bizwire) — South Korea’s financial regulator said Thursday it will review the introduction of tighter rules on so-called jeonse loans amid rising household debts. In a report to the State Affairs Planning Committee, the de facto transition team of the new Lee Jae Myung administration, the Financial Services Commission (FSC) said [...]
SEOUL, Aug. 16 (Korea Bizwire) — South Korea’s antitrust regulator said Wednesday it has sent a formal letter to Google LLC on its decision to slap a fine of 42.1 billion won (US$31.4 million) on the U.S. tech giant for unfair business practices aimed at solidifying its dominance in the local mobile gaming app market. [...]
SEOUL, Feb. 23 (Korea Bizwire) – South Korea’s antitrust regulator said Thursday it has decided to fine two bar associations 2 billion won (US$1.53 million) each for restricting their members from joining LawTalk, a platform that connects users and attorneys. The move came as the Korean Bar Association and the Seoul Bar Association ordered their [...]
SEOUL, Feb. 9 (Korea Bizwire) — South Korea’s antitrust regulator said Thursday it has decided to issue a correction order on four German carmakers operating here for colluding to adopt a system that results in higher nitrogen oxide (NOx) emissions and fine them a total of 42.3 billion won (US$33.5 million). The move came after [...]
SEOUL, Jan. 20 (Korea Bizwire) — South Korea’s financial regulator said Thursday it will open an institutional market to enable the trading of blockchain-based security tokens. The Financial Services Commission (FSC) announced that it deliberated on its regulation innovation agenda for the capital market. Security tokens, in general, are the issuance of securitized rights in [...]
SEOUL, Jan. 9 (Korea Bizwire) — U.S. chipmaker Broadcom Inc. offered 20 billion won (US$15.8 million) worth of programs to address concerns about its alleged violation of competition law, South Korea’s antitrust regulator said Monday. The Fair Trade Commission (FTC) has been looking into allegations that Broadcom violated local laws by pressing Samsung Electronics Co. [...]
SEOUL, Jan. 4 (Korea Bizwire) — Starting this year, professional football league players will be entitled to reject transfers to a different football club even if the annual wage offered is better than at their previous club if other conditions, such as the period of the contract, work against them, the antitrust regulator said Monday. [...]
SEJONG, Oct. 24 (Korea Bizwire) — South Korea’s antitrust regulator said Sunday it has decided to order Nissan Motor Corp., Porsche AG and their two Korean units to take corrective steps for falsified information over gas emissions of their diesel cars. Nissan Motor, Nissan Korea, Porsche and Porsche Korea are alleged to have stated false [...]
SEOUL, Sept. 10 (Korea Bizwire) — South Korea’s antitrust regulator said Friday it will closely look into unfair business activity by online platform giants here amid their increased market dominance, apparently targeting Naver Corp. and Kakao Corp. Concerns have mounted that powerful online platform operators have abused their dominant market status and engaged in unfair [...]
SEOUL, Aug. 19 (Korea Bizwire) — An unfair provision in the terms and conditions set by delivery apps that exempts them from responsibility for any misdelivery has been corrected, South Korea’s antitrust regulator said Wednesday. The Korea Fair Trade Commission (KFTC) announced that Baedal Minjok and Yogiyo, the country’s No. 1 and 2 delivery apps, [...]