Spark-Man ZAC Mega Talkie
These toys were made by Haedong Systems Corporation in Korea. The ZAC logo was reused along with the original Japanese packaging design. At a quick glance, it would be easy to mistake these for an original release. On a closer look, it's clearly not authentic with a different numbering system (8801) and the Korean superhero Spark Man prominently featured. There are no copyrights on either the packaging or the toys just a "made in Korea" declaration.
A knockoff of the wristband walkie talkies with built in FM radios.
From my research, it appears that there was a 30 second commercial for the Mega Talkie. Sadly the page where I discovered that is no longer available so I've mirrored their screen captures below.