Fair trade watchdog fines matchmaking firm for exaggerating membership figures

Korea's fair trade watchdog on Wednesday imposed a fine and issued a corrective order against Duo Information Co., a major matchmaking firm, for exaggerating the number of its members with professional occupations and degrees from prestigious universities. The Fair Trade Commission (FTC) said it imposed a 345 million-won ($249,450) fine on the company for misleading advertisements distributed through online news articles, its website, blogs and outdoor advertisements, some of which remained in place until recently. The watchdog said Duo claimed it had an industry-high 5,135 members in professional occupations and 16,479 members who graduated from prestigious universities without providing evidence. The figures were also calculated based on the company's own criteria for defining professional occupations and prestigious universities. Duo additionally claimed that it was the only matchmaking firm to disclose regulatory filings with the Financial Supervisory Service, although another rival was doing so as well. The FTC pointed out that Duo also claimed that it had 230 matchmaking managers, a