138 Multi-Level Marketing Operators in Q2... 4 New Registrations and 4 Closures Each

[Asia Economy Reporter Moon Chaeseok] As of the second quarter, the number of registered multi-level marketing (MLM) businesses remained at 138, the same level as in the first quarter.

According to the major information changes of MLM businesses in the second quarter announced by the Fair Trade Commission on the 19th, the number of MLM businesses as of the end of June was 138, unchanged from the first quarter.

Four companies?Geo & Wiz, Sambaek Global, Canvas Korea, and D&L?were newly registered. Four companies?A-Pool, Stemtec Korea, Hu & Me, and Maia?ceased operations.

Among the newly registered companies, Sambaek Global signed an indemnity contract with the Korea Special Sales Compensation Association, while the other three companies signed contracts with the Direct Selling Compensation Association.

MLM businesses must sign contracts with compensation associations or enter into consumer damage compensation insurance or debt payment guarantee contracts to ensure consumer damage compensation.

Two companies, The One Platform and Mayday, changed their trade names, and 14 companies, including PM International Korea, changed their addresses.

Ryu Yongrae, head of the Special Transactions Division at the Fair Trade Commission, stated, "For businesses that frequently change their trade names, main business addresses, or phone numbers, unexpected consumer damages such as difficulties in refunds may occur. It is necessary to check more thoroughly when dealing with such companies."

Source=Korea Fair Trade Commission

This content was produced with the assistance of AI translation services.