FTC orders corrective measures against plastic surgery clinics in Gangnam for stealth advertising 3clinics; approves Mirae Asset’s acquisition of Korbit
The Fair Trade Commission 7early in the month ordered corrective measures against plastic surgery clinics in Gangnam and Seocho 3for advertisements disguised as reviews, and on 7month 9day approved Mirae Asset’s acquisition of the virtual asset exchange Korbit. The consumer disclosure regulations and corporate combination review being handled during the same period is noteworthy.
The Fair Trade Commission made two decisions 7early in the month. It ordered corrective measures against plastic surgery clinics in Gangnam and Seocho 3for advertising practices disguised as reviews, and on 7month 9day approved Mirae Asset’s acquisition of the virtual asset exchange Korbit. From an investor perspective, attention is needed because consumer trust and whether an acquisition is approved can be linked to impacts by sector.
The Fair Trade Commission 7month 12day confirmed that plastic surgery clinics in Gangnam and Seocho, Seoul, 3had posted review-style content without disclosing that it was advertising and imposed corrective measures.
The hospitals were found to have posted surgery review-style messages such as “swelling goes down well” without labeling them as advertisements.
The Korea Fair Trade Commission determined that the conduct constituted a violation of the Act on Labeling and Advertising and issued a corrective order.
Meanwhile, 7 month 9 day, the Korea Fair Trade Commission approved Mirae Asset’s acquisition of a stake in Korbit. With the approval, Mirae Asset became able to proceed with the acquisition of Korbit.
The Korea Fair Trade Commission recently handled consumer labeling issues and a business combination review, respectively. The two decisions may be followed by further disclosures and subsequent measures in the relevant industries.