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Republic of Korea: KFTC investigation into Weverse, YG Plus, SM Brand Marketing, and JYP 360 for alleged non-compliance with Act on Consumer Protection in E-Commerce

Progress

Current status
in force
09 Aug 2024 in force

Scope

Implementers
Republic of Korea
Policy Area
Consumer protection
Policy Instrument
Fair marketing and advertising practice requirement
Regulated Economic Activity
platform intermediary: e-commerce
Government Branch
executive
Government Body
competition authority
Implementation Level
national

Timeline of events

09 Aug 2024
in force

Issued ruling in KFTC investigation into Weverse, YG Plus, SM Brand Marketing, and JYP 360 for alleged non-compliance with Act on Consumer Protection in E-Commerce

On 9 August 2024, the Korea Fair Trade Commission (KFTC) issued a ruling against Weverse, YG Plus, SM Brand Marketing, and JYP 360 with a fine of KRW 3 million, KRW 2.5 million, KRW 2.5 million and KRW 2.5 million, respectively, for non-compliance …

Source
Event type investigation
Action type ruling
Government branch executive
Government body competition authority