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Industry

Woowa Brothers renews ISO 37301 compliance management certification

Woowa Brothers, the operator of the Baemin delivery platform, renewed its ISO 37301 compliance management system certification, maintaining international recognition of its compliance framework. The certification recognises company-wide compliance policies and risk response systems and requires annual follow-up reviews and a full audit every three years. Woowa Brothers first obtained the certification in 2023. The company said it has built a dedicated compliance organisation, strengthened internal auditors and runs compliance campaigns.

Games & Commerce

Naver-Dunamu merger hurdle eases as committee recommends amending enforcement decree

South Korea\'s Presidential Regulatory Reform Committee\'s growth subcommittee reviewed an enforcement decree revision to the Act on Reporting and Using Specified Financial Transaction Information on July 24 and recommended that the Financial Services Commission add an exception to fit-and-proper screening rules for major shareholders of virtual asset service providers. The recommendation could ease regulatory burdens raised during Naver\'s bid to acquire Dunamu. The revised law is set to take effect on Aug. 20.

Telecommunications & Media

SKT 5G exaggerated advertising 16.83 billion won fine cancelled; court says amount miscalculated

SK Telecom partially won a first-instance administrative lawsuit challenging South Korea\'s antitrust regulator over sanctions for exaggerated 5G speed advertising. The Seoul High Court ruled the ads were false or exaggerated, deceptive and likely to mislead consumers, and found the conduct illegal. But it said the Fair Trade Commission miscalculated the violation period, causing errors in the revenue base used to compute the penalty, and cancelled the 16.83 billion won fine.