South Korea: Kakao fined for unfair refund policy

The Fair Trade Commission (KFTC) has fined Kakao 2.5 million won (US$2,157) for violating the e-commerce transaction law, the nation’s antitrust watchdog stated Sunday, June 23.

It also ordered Kakao to revise its unfair refund and exchange policies.

The antitrust agency stated it had looked into the terms and conditions of kakaomakers, Kakao’s mobile shopping platform, and discovered unfair terms that restricted the cancellation of purchases and refunds.

Between February 2016 and June 2018, Kakao posted a notice on its kakaomakers website, stated that because all products were custom made, ordered items were not eligible for return or exchange.

Full Content: Korea Times

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.