The Fair Trade Commission said on Wednesday that it will start a large-scale crackdown on unfair business practices next month, especially on high commission fees at major retail companies. The nation’s antitrust regulator revealed the plan on the first anniversary of the government’s shared-growth

Industry Sept. 28, 2011

A presidential panel on shared growth released Tuesday a list of 16 business items, to which entry of large companies will be restricted. The Commission on Shared Growth for Large and Small Companies has continued discussions on 45 items since May along with local conglomerates.According to the pane

Industry Sept. 27, 2011

Smartphone apps can be refunded within 30 days if users find any defect, antitrust authorities said Tuesday. The Fair Trade Commission said it recently ordered SK Telecom’s T-Store and LG Uplus’ OZ Store to correct their refund policy. The local app store operators had made full refunds only when th

Industry Sept. 27, 2011

The Fair Trade Commission said Monday that it has fined three dental equipment makers 127 million won ($106,000) for giving illegal rebates. It is the first time that the state-run antitrust regulator has found illegal marketing practices prevalent in the medical equipment market as well as in the p

Industry Sept. 26, 2011

A lawmaker on Monday alleged that HomeTax, the government’s online tax payment system, is exposed to the threat of hacking and lacks adequate security. Currently, about 5.22 million Korean taxpayers, most of them business owners, are using the system due to benefits such as tax cuts. According to Re

Industry Sept. 26, 2011

Companies doing business here will face tougher rules on inter-subsidiary dealings from as early as the end of December, antitrust authorities said Sunday. The Fair Trade Commission on Sunday put a revision to the antitrust law on public notice with an aim to step up its vigilance on illegal inter-a

Industry Sept. 25, 2011

Korean retailers are launching promotions to target Chinese golden week, which starts Saturday. Industry sources expect that more than 2 million Chinese people will travel abroad during the seven-day holiday starting on Oct. 1, China’s national foundation day. With tens of thousands of Chinese touri

Industry Sept. 25, 2011

The Fair Trade Commission on Monday issued warnings against Lotte Engineering and Construction and LS Cable and System for unfair business practices with subcontractors. In January 2009, Lotte delayed writing a contract for six months even after its subcontracting company started construction work.

Industry Sept. 19, 2011

The Fair Trade Commission plans to investigate commission fees at the nation’s top three department stores next month, an official said Monday. The investigation is allegedly aimed at Lotte, Shinsegae and Hyundai department stores that have given favors to foreign luxury brands with lower fees, the

Industry Sept. 19, 2011

European fashion brands are enjoying increased demand here after a free trade pact between Korea and the EU took effect on July 1, industry sources said Friday.French brand Louis Vuitton logged 91.2 billion won ($82.6 million) between July 1 and Sept. 14, up 16.9 percent from 78 billion won a year e

Industry Sept. 16, 2011

Disputes are rising over compensation after an unprecedented power failure swept the nation on Thursday. Seoul and many other parts of Korea suffered serial power cuts after a sudden hike in electricity consumption. Unlike large companies with an independent power operating system, smaller businesse

Sept. 16, 2011