( September 28, 2026, 07:01 GMT | Official Statement) -- MLex Summary: Myeongryundang, operator of a South Korean pork-rib restaurant franchise, has been fined about 14.9 billion won ($10.9 million) over unfair support for 14 lending companies owned by its chairman’s family and false or misleading disclosures to prospective franchisees. The Korea Fair Trade Commission said Monday Myeongryundang supplied the lenders, which made startup and remodeling loans to prospective and existing franchisees, with a cumulative 298.3 billion won at annual rates of 2.3 percent or 4.6 percent, well below normal funding rates, providing them with about 21.7 billion won in economic benefits. The company also stated in disclosure documents that there was no credit provision or brokerage, while failing to disclose the lenders’ ties to Myeongryundang, loan terms and the links between the franchise and loan agreements. The regulator imposed the fine and corrective orders, and decided to refer Myeongryundang and its chairman for criminal investigation.Statement is attached (in Korean)....
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