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