Fair trade watchdog fines matchmaking firm for exaggerating membership figures
Korea's fair trade watchdog on Wednesday imposed a fine and issued a corrective order against Duo Information Co., a major matchmaking firm, for exaggerating the number of its members with professional occupations and degrees from prestigious universities. The Fair Trade Commission (FTC) said it imposed a 345 million-won ($249,450) fine on the company for misleading advertisements distributed…
On Wednesday, South Korea's Fair Trade Commission (FTC) imposed a fine of 345 million won ($249,450) on matchmaking firm Duo Information Co. for overstating its membership figures. The regulatory body cited misleading advertisements, including online news articles, the company's website, blogs, and outdoor ads, which had been active until recently.
Duo claimed to have 5,135 members in professional occupations and 16,479 who graduated from prestigious universities, figures it calculated using its own criteria. The FTC noted that Duo was not the only firm disclosing regulatory filings with the Financial Supervisory Service, as another rival was doing the same. Additionally, the FTC highlighted that Duo falsely asserted it had 230 matchmaking managers.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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