Is the price of novelties determined by law? Caution is needed regarding the Prize Display Law.

"Are there price limits for novelties?" "Is the price limit for novelties determined by law?" There may be those who have such questions.

The price of novelties is determined by the Prize Competition Law! Novelties refer to goods distributed free of charge as part of advertising and promotional activities. On the other hand, when distributing them, they must be produced within the amount specified by the Prize Competition Law. Novelties fall under the category of total prizes according to the Prize Competition Law. Adding expensive novelties can lead consumers to misinterpret the quality of products or services. To prevent misinterpretation regarding products or services, it is important to produce novelties at an appropriate price. What happens if you set a price that violates the Prize Competition Law? In the initial stage, you will receive a "correction recommendation" from the Consumer Affairs Agency or local governments, but in the worst case, it could lead to criminal penalties. Therefore, it is essential to understand the legal knowledge before producing novelties. Price setting that violates the Prize Competition Law is subject to "correction recommendations." If you violate the Prize Competition Law, you may receive a "correction recommendation" from the Consumer Affairs Agency or local governments. Ignoring a "correction recommendation" could lead to criminal penalties. The Prize Competition Law includes provisions that can impose criminal penalties, so caution is necessary.

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