Bunjang buyer protection will be strengthened
S. Korea's four used trading platform operators sign voluntary agreement on product safety and dispute resolution
The Fair Trade Commission and the Korea Consumer Agency signed a "Product Safety and Dispute Resolution Agreement for Used Trading Platform Operators" with four used trading platforms, including Carrot Market, Bunjang, Secondware, and Joongna.
The move is aimed at securing consumer safety from replicas as the distribution of replicas continues to increase due to the recent surge in the use of used trading platforms. According to the Korea Internet & Security Agency, the amount of used transactions in Korea was around 4 trillion won in 2008 but increased significantly to about 24 trillion won in 2021.
For example, if a serious defect occurs in normal use within three days of receiving a used phone and the seller does not notify it at all, an agreement is recommended to compensate for the repair fee or refund 50% of the purchase price within 10 days.
In addition, if a seller who repeatedly sells harmful products, frequently causes fraud damage or disputes is suspected to be a business operator, administrative measures can be taken according to the E-Commerce Act, and the Fair Trade Commission will be provided with necessary schedule information.
Through this, the Fair Trade Commission will detect and actively enforce violations of consumer law by business operators using individual-to-person (C2C) transactions.