Regulators tighten rules for online buying

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Regulators tighten rules for online buying

Beginning today, consumers making purchases from online shopping malls of more than 100,000 won ($85) and settlements of at least 30,000 won over the telephone must be notified of the transactions by text messages on mobile phones or e-mail, the Fair Trade Commission said yesterday. According to the antitrust agency, telephone service providers, including mobile service providers, are required to specify the name of the seller for each purchase settled by phone on monthly phone bills. A commission official said that notifying consumers without specifying the details of each purchase makes it difficult for them to know whether the transactions have been made accurately. The commission said consumers are allowed to delay full payment for purchases made by phone if a dispute involving a purchase is not completely resolved. The commission strengthened provisions to prevent consumers from making purchases based on a misunderstanding of the price and specifications of a product. Internet shopping malls are required to confirm the details of the purchases to buyers. Sellers are also required to confirm the details of the purchases made by phone. To prevent minors from making reckless purchases over the telephone, the commission permitted parents to set a ceiling for purchases by phone. by Kim Young-hoon

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