In June of 2011, the Korea Fair Trade Commission (KFTC) has begun to enforce Notification of the Standards on Imposing Penalties on Companies that Act on Fair Labeling and Advertising. The KFTC is very aggressive in enforcing law. We suspect to see a few public cases this year concerning mislabeled foreign products
A penalty may be imposed only if:
- The Act was violated on two or more occasions in a three year period; or
- Serious harm is realized by customers; or
- Seller engages in prohibited acts that are intentional or are a clear violation of law (typical vague catchall language).
We have run into a few companies over the years that were exporting products from a particular country, but the country of origin of the product was actually a third country. Check your labeling an insure that your labels reflect the proper quantity, quality, ingredients and country of origin.
__________
SeanHayes@ipglegal.com
Similar Posts:
- Korean FTC Criminal Referral Guidelines: Monopoly & Franchise Korean Law Updates
- Civil Liability of Companies for Actions of Employees Off the Company Property and After Work Hours
- Digital Forensic Reviews at the Korean Fair Trade Commission
- Antitrust/Competition Consent Orders in Korea
- Korean Distributor Sales Territory or Customer Restrictions in Korea: Korean Distributor law Agreements in Korea
- Proposed Amendments to the Monopoly Regulation and Fair Trade Law: 2023
- Definition of a Franchise in Korea under Korean Franchise Law and Corresponding Disclosure Requirements
- Termination of Commercial Agent/Distribution Agreements in Korea: Korea’s Agent Compensation Rule
- Japan is Ordered to Pay Damages to former “Comfort Women”
- Adhesion Contract in South Korea: Regulating Unfair Terms and Conditions