S. KOREA’S HANJIN HEAVY TO BE SOLD OFF TO DONGBU CORP.

Highlights –

• S. Korea’s Hanjin Heavy to be sold off to Dongbu Corp.
• The company’s shares ended low on Friday trading at 7,650 won.
• KDB, creditor of Hanjin Heavy will sell 66.85 percent of its stake in the company to Dongbu...

KFTC PLANS TO REVISE E-COMMERCE TRANSACTION LAWS

Highlights –

• KFTC plans to revise e-commerce transaction laws.
• The revision is to be made due to growing rise in online platform-based trade.
• KFTC will revise the 2002 Act on Consumer Protection in Electronic Commerce of the country.<...

DOOSAN HEAVY DECIDED TO SELL 35% OF ITS STAKE IN DOOSAN INFRACORE

Highlights –

• Doosan Heavy decided to sell 35% of its stake in Doosan Infracore.
• Doosan Heavy will sell its stake for $757 million to Hyundai heavy Industries Holdings Co.
• Doosan Heavy disposed of 76 million shares of its construction ...

KFTC REVIEW THE DEAL BY KOREAN AIR TO BUY ASIANA AIRLINES INC.

Highlights –

• KFTC review the deal by Korean Air to buy Asiana Airlines Inc.
• KFTC will see if the merger could constitute a monopoly or hurt market competition.
• Korean Air in November 2020 said that it will acquire its smaller rival As...

AROUND $18.8 MILLION TO BE RETURNED BY AMAZON’S JAPAN UNIT TO ITS SUPPLIERS

Highlights –

• Around $18.8 million to be returned by Amazon’s Japan unit to its suppliers.
• The company has pledged to do the above as part of their reforms submitted to JFTC.
• Amazon Japan is exempted from penalties.
• T...

JAPAN UNIT OF AMAZON INC. SUBMITS PROPOSED REFORMS TO THE JFTC

Highlights –

• Japan unit of Amazon Inc. submits proposed reforms to the JFTC.
• If JFTC accepts the proposal it will be exempted from administrative penalties.
• Amazon Japan was investigated by JFTC in 2016.
• On July JFTC had n...

JFTC PUBLISHED A SURVEY ON CONVENIENCE STORES IF KEPT OPEN FOR 24 HOURS

Highlights –

• JFTC published a survey on convenience stores if kept open for 24 hours.
• JFTC says it would be a contravention of laws against private monopolization.
• The survey was conducted between October 2019 and August 2020.

SOUTH KOREAN FTC FINDS ILLEGAL E-COMMERCE FACE MASK SELLERS

Highlights –

• Fair Trade Commission finds fake sellers
• Hoarding of face masks and hand sanitizer punishable

There is a surge in demand for protective masks due to spread of COVID-19. According to the country’s anti-trust ...

NAVER FOUNDER LEE HAE JIN WATCHED CLOSELY BY FAIR TRADE COMMISSION

Highlights –

• Fair Trade Commission, South Korea to prosecute Naver founder
• Naver denies claims made by FTC

South Korea’s search engine ‘Naver’ founder Lee Hae Jin has been re...