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Tuesday, 11 August 2026 Reading Room

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LF Networks was fined 400 million won... promotional costs were passed on to suppliers. LF Networks, a major domestic clothing company, was fined 400 million won by the Fair Trade Commission for passing on promotional costs to its suppliers. On the 22nd, the Fair Trade Commission announced that it had imposed a correction order and a fine of 400 million won on LF Networks for violating the unfair trade practices of large retailers. According to the Fair Trade Commission, LF Networks, which operates the popular clothing brands 'Tanto,' 'NINE WEST,' and 'RECIPE,' signed a contract with suppliers to pay for advertising and promotional expenses, but in reality, it passed on the costs to its suppliers. Between January 2019 and June 2021, LF Networks collected a total of 1.43 billion won in advertising and promotional expenses from 35 suppliers and used them for its own promotional activities. In particular, LF Networks not only collected advertising and promotional expenses from suppliers but also unilaterally decided on the details of the promotional activities, such as the timing and method of advertising, and the selection of promotional items. The Fair Trade Commission criticized LF Networks, saying that it abused its superior position to harm the interests of its suppliers. An official from the Fair Trade Commission said, "Large retailers should bear the costs of promotional activities themselves, and we will continue to crack down on unfair trade practices that harm suppliers."

·hani.co.kr

The police will establish a 'tracking investigation team' for criminal proceeds to minimize damage from voice phishing. The police are promoting the establishment of a team that specializes in tracking and confiscating criminal proceeds, including those from voice phishing, gang crimes, and drug-related crimes. The police plan to establish this team in 18 metropolitan and provincial police agencies, including the Seoul Metropolitan Police Agency, within this month. The team will be composed of 4 to 6 investigators and will track and investigate not only the suspects but also the money trails of criminal proceeds. The police will also actively utilize financial transaction information and implement a system to quickly respond to voice phishing crimes. The police aim to achieve a 30% reduction in voice phishing damages this year compared to last year. In 2022, the number of voice phishing cases reported to the police was 1,266, with damages amounting to 35.8 billion KRW. The police expect that the establishment of the tracking investigation team will help minimize damage from voice phishing and other crimes. The police plan to continuously work on strengthening their response to voice phishing and other crimes.

·hani.co.kr

OK Savings Bank's rugby team, OK Read Men's Rugby Team, held its third middle school camp. The camp was held at the Gangneung Rugby Center in Gangneung, Gangwon Province, from the 24th to the 27th, with about 40 middle school students participating. The OK Read Men's Rugby Team, led by Chairman Choi Yoon, has been holding middle school camps since 2019 to nurture young rugby players. Chairman Choi Yoon said, "We want to teach these students the real rugby." At the camp, the players learned the basics of rugby, including tackling and passing, and played practice games. The OK Read Men's Rugby Team also provided one-on-one coaching to help the students improve their skills. Chairman Choi Yoon said, "I hope that the camp will be a great opportunity for the students to learn about rugby and have fun." The OK Read Men's Rugby Team plans to continue holding middle school camps in the future to promote the development of young rugby players.

·hani.co.kr

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