Number of Multi-Level Marketing Operators at 118... Decreased by 3 from Previous Quarter

The number of multi-level marketing (MLM) operators in the third quarter of this year was a total of 118 companies, which is 3 fewer than the previous quarter.

[Image source=Yonhap News]

On the 26th, the Korea Fair Trade Commission announced the changes in key information of MLM operators for the third quarter of this year. As of the end of September, there are 117 registered MLM companies. During the third quarter, there were a total of 17 changes, including 3 new registrations, 5 closures, 1 deregistration, and 8 changes in company name, address, or phone number.

Looking at the number of MLM operators by quarter: 118 in Q3 2022, 119 in Q4 2022, 118 in Q1 2023, 120 in Q2 2023, and 118 in Q3 2023, maintaining around 120 companies.

The companies newly registered in the third quarter are Kiari Korea, Kodaco Bio, and Lifewave Korea. These companies signed consumer damage compensation insurance contracts through guarantee contracts with the Korea Special Sales Compensation Association and debt payment guarantee contracts with Shinhan Bank Busan Financial Center. Additionally, five companies?Icynapse, Entry, Inner & Youngjin, and Geo & Wiz?closed down. Qualiving was deregistered.

The Fair Trade Commission stated, “When dealing with MLM operators or working as MLM salespeople, it is essential to verify key information such as the registration status of the MLM operator and whether the business is suspended or closed to prevent possible damages during transactions.”

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