This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

Dessert chain Sulbing handed corrective orders over franchise conduct

( June 1, 2016, 06:05 GMT | Official Statement) -- MLex Summary: The Korea Fair Trade Commission has decided to impose corrective orders on South Korean dessert franchise Sulbing for violating the Fair Franchise Practice Act. The company stands accused of not issuing franchise status documents when signing contracts with new franchisees from March 2014 to August the same year. The documents include information about 10 other franchise stores that are close to the site on which the new franchisee is about to open the store. The firm is required by the law to issue the document 14 days before the contract is signed. It is also suspected of taking franchise deposits directly from franchisees. Franchise deposits must be placed at a financial institution for at least two months before the franchising firm receives the money, according to the law.The regulator's statement, in Korean, is attached....

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

Documents

Related Sections