Fair Trade Commission building at the Government Complex Sejong in Sejong City. Oct. 13, 2023. [Photo by Yoo Dae-gil, dbeorlf123@ajunews.com]
South Korea’s Fair Trade Commission said on the 29th it will fine Bodyfriend 40 million won for issuing written manufacturing subcontract agreements that omitted required items, including signatures and delivery deadlines.
The FTC said Bodyfriend signed 58 manufacturing subcontract contracts with four subcontractors from May 2021 to June 2024 for products including bed-type massage devices. Of the 58 contracts, 41 were issued in writing without the signature or name-and-seal of both parties.
In eight cases, the written documents omitted the delivery deadline for the goods. In nine cases, both the signature or name-and-seal and the delivery deadline were missing.
The FTC said the conduct violated Article 3 of the law requiring issuance of written documents. It ordered corrective steps to prevent a repeat and imposed the 40 million won penalty.
An FTC official said the action is expected to help improve unfair subcontracting practices and protect subcontractors’ rights, adding that the agency will continue monitoring violations and take strict action in line with the law and principles when illegal conduct is found.
The FTC said Bodyfriend signed 58 manufacturing subcontract contracts with four subcontractors from May 2021 to June 2024 for products including bed-type massage devices. Of the 58 contracts, 41 were issued in writing without the signature or name-and-seal of both parties.
In eight cases, the written documents omitted the delivery deadline for the goods. In nine cases, both the signature or name-and-seal and the delivery deadline were missing.
The FTC said the conduct violated Article 3 of the law requiring issuance of written documents. It ordered corrective steps to prevent a repeat and imposed the 40 million won penalty.
An FTC official said the action is expected to help improve unfair subcontracting practices and protect subcontractors’ rights, adding that the agency will continue monitoring violations and take strict action in line with the law and principles when illegal conduct is found.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.