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South Korea Introduces Rules to Combat Shrinkflation

South Korea’s Fair Trade Commission FTC has mandated that food makers and suppliers must inform consumers if they reduce product sizes or face fines of up to 10 million won ($7,300).

According to the FTC, this move targets shrinkflation, where companies shrink product sizes while maintaining prices.

The new rule covers processed foods and household supplies like toilet paper, shampoo, and detergents. Businesses must display labels for three months if downsizing increases the unit price. Violators face fines of 5 million won for the first offense and 10 million won for subsequent offenses.

The FTC aims to prevent companies from reducing product sizes without notice, causing consumers to pay more unknowingly. 

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