The Korea Fair Trade Commission said on the 29th that it imposed a 40 million won penalty surcharge on Bodyfriend for violating the Fair Transactions in Subcontracting Act by issuing contracts to suppliers of products such as bed-type massage machines without signatures and the like.
Bodyfriend is a corporations specializing in lending massage chairs, founded in 2007. Last year's revenue was about 422.6 billion won, ranking first in the massage chair market.
The Korea Fair Trade Commission (FTC) said Bodyfriend entered into a total of 58 consignment manufacturing contracts for items such as bed-type massage machines between May 2, 2021, and June 4, 2024, with payments totaling about 26.43915 billion won, and violated Article 3 (issuance of written documents and preservation of records) of the Fair Transactions in Subcontracting Act.
Article 3 of the Fair Transactions in Subcontracting Act requires, to prevent unfair transaction, issuance before work begins of a written contract containing required entries and mandatory preservation of related documents for three years.
Of the 58 cases, 41 involved issuing documents missing the signatures or printed seals of both parties. Eight involved documents missing the delivery deadline for the subject matter, and nine involved documents missing both the signature or printed seal and the delivery deadline for the subject matter.