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.
__________
[email protected]
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
- Damages for Material Omissions in Franchise Disclosure Documents in South Korea
- Abuse of Market Dominance in Korea: Competition Law in Korea
- Korea’s Occupational Safety and Health Act Amendments for 2018 (OSHA Korea Updates)
- Korea’s Real Name Transaction Act Strengthened: Korea’s Banking Law Basics
- “Fair Use” Korean Copyright law
You must log in to post a comment.