The number of multi-level marketing (MLM) companies has grown to 142 across the nation, with ten firms newly registered in the third quarter of the year.
The Fair Trade Commission said the ten new MLM companies signed compensation agreements with the Mutual Aid Cooperative and Consumer Organization (MAC&CO) and the Korea Special Sales Financial Cooperative Association (KOSSA).
Consumers and marketers will be able to receive compensation if they suffer financial damages when doing business with such companies.
The trade watchdog warned consumers of dealing with three firms—Monavie Korea, Joonggun Korea and Montessori International—whose agreements with the MAC&CO and KOSSA ended in the third quarter.
In August this year, the Fair Trade Commission (FTC) reported there were 132 MLM companies in the country as of June 30, up seven from three months earlier. At the time