YOON&YANG
With the rise of online transactions, the Korea Fair Trade Commission (KFTC) is strengthening consumer protection policies. In line with the KFTC’s approach, companies need to identify legal risks in establishing and amending their terms and conditions. Companies also have to respond properly to the KFTC’s investigations, if any, on their terms and conditions. In addition, companies need to monitor whether their labeling/advertising may violate the Act on Fair Labeling and Advertising, while proactively responding to any slanderous advertisements of competitors by filing reports to the KFTC. Yoon & Yang’s Antitrust & Competition Practice provides clients with legal advice and solutions to all these issues. The Practice also covers the Act on Fair Labeling and Advertising of Foods which has a regulatory regime similar to the Act on Fair Labeling and Advertising.

Key Services

Regulations on Terms and Conditions

  • Advising clients on establishment and amendment of terms and conditions
  • Advising clients on any potential violation of the Act on the Regulation of Terms and Conditions
  • Representing clients in the KFTC’s investigations/deliberations related to potential violations of the Act on the Regulation of Terms and Conditions
  • Representing clients in legal proceedings challenging the KFTC dispositions


Labeling and Advertising

  • Advising clients on any potential violation of the Act on Fair Labeling and Advertising
  • Representing clients in the KFTC’s investigations/deliberations related to potential violations of Act on Fair Labeling and Advertising
  • Representing clients in legal proceedings challenging the KFTC dispositions


 

Representative Cases

  • Advised a cryptocurrency exchange in relation to the KFTC’s investigation on its terms and conditions
  • Advised a digital payment service company in relation to the KFTC’s investigation on its terms and conditions
  • Advised a REIT in relation to the KFTC’s investigation on a real estate trust agreement
  • Advised various insurance companies in relation to the insurance terms and conditions
  • Legal advice regarding the amendment of the IPTV terms and conditions
  • Advised an electronic device manufacturer in relation to the KFTC’s investigation on its TV commercials
  • Advised an alcoholic beverage company in relation to the Ministry of Food and Drug Safety’s investigation on its beer advertisement
  • Advised a cosmetic company in relation to the KFTC’s investigation on its cosmetic advertisement posted on Instagram
  • Advised an online lecture service provider in relation to the KFTC’s investigation on its lecture advertisement and teaching materials
  • Advised an auto part manufacturer in relation to the KFTC’s investigation on its auto part advertisement