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South Korea's KFTC calls for revision of unfair terms at credit-card companies

( November 17, 2025, 03:11 GMT | Official Statement) -- MLex Summary: South Korea’s antitrust regulator has asked the country’s financial watchdog to require credit-card, leasing and installment financing companies to revise unfair terms and conditions identified in its annual review of financial contracts. The Korea Fair Trade Commission found that some companies unfairly restrict consumers’ right to legal recourse by requiring lawsuits to be filed in the district where the company is located, rather than at the consumer’s place of residence. The regulator also found that clauses allowing international brand fees to be changed at the discretion of global credit-card networks without prior notice to consumers are unfair. The KFTC has requested that credit-card companies be required to notify consumers in advance of any such fee changes.The statement, in Korean, is attached....

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