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| Article 15 (Prohibition of Unfair Business Activities) |
| (1) | "Cases prescribed by Presidential Decree" in Article 20 (1) 4 (b) (iii) of the Act means cases where a financial consumer terminates a contract for facility leasing, deferred payment sales, or installment financing under the Specialized Credit Finance Business Act and does not fall under any of the following items. |
| 1. | Where the goods under the contract are not delivered; |
| 2. | Where is impracticable to use the delivered goods due to their defects; |
| (2) | "Demanding a third party's joint surety in connection with a contract for a loan product prescribed by Presidential Decree, such as a loan to an individual" in Article 20 (1) 4 (c) of the Act means any of the following cases: <Amended on Dec. 8, 2022> |
| 1. | Demanding a joint a third party's joint surety for a contract for loan products concluded with a financial consumer as an individual; Provided, that a joint surety may be demanded from any of the following third parties: |
| (a) | Where a person whose status is stated as the representative in a business registration certificate concludes a contract for loan products, the other representative stated in the relevant business registration certificate; |
| (b) | Where a loan product contract is concluded to pay the price of buildings sold in units under the Act on Sale of Building Units, the sellers of buildings in units and the contractor of the relevant building under that Act; |
| 2. | Demanding a joint a third party's joint surety for a contract for loan products concluded with a financial consumer as a corporation; |
| (a) | The representative director or general partner of the relevant corporation; |
| (b) | A person who holds the largest share in the relevant corporation; |
| (c) | A person who holds more than 30/100 of the total number of voting stocks issued by the relevant corporation (adding the issued voting stocks held by the spouse, blood relatives and relatives within the fourth degree of relationship); |
| (d) | Other persons determined and publicly notified by the Financial Services Commission in consideration of the purpose, nature, and target of the loan product contract; |
| 3. | Demanding a joint a third party's joint surety for a contract for loan products concluded with a financial consumer as an association or organization; |
| (3) | "An act prescribed by Presidential Decree" in the main clause of Article 20 (1) 5 of the Act means any of the following acts: |
| 1. | Reducing or changing linked or tied product services, etc. without prior notification as determined and publicly notified by the Financial Services Commission |
| 2. | Reducing or changing linked or tied product services, etc. unfavorably to financial consumers without good reasons; |
| (4) | Specific types of, or standards for unfair business activities under Article 20 (1) of the Act shall be classified as follows: <Amended on Dec. 8, 2022> |
| 1. | Article 20 (1) 1 of the Act: the following acts: |
| (a) | Compelling a financial consumer to conclude a contract for other financial products sold by himself or herself: |
| (b) | Compelling a financial consumer to conclude a contract for another financial product in the name of a third party; |
| (c) | Compelling a financial consumer to conclude a contract for another financial product through another financial product direct seller; |
| (d) | Compelling representative or related person (limited to persons determined and publicly notified by the Financial Services Commission) of a financial consumer who is a small or medium enterprise under the Framework Act on Small and Medium Enterprises to conclude a contract for another financial product; |
| (e) | Other acts as similar to those referred to in items (a) through (d), which compel a financial consumer to conclude a contract for another financial product against his or her will as determined and publicly notified by the Financial Services Commission. |
| 2. | Article 20 (1) 2 of the Act: the following acts: |
| (a) | Demanding collateral or surety even though it is not required; |
| (b) | Demanding collateral or surety in excess of the scope of general collateral or surety generally required for the conclusion of such contract; |
| 3. | Article 20 (1) 6 of the Act: the following acts: |
| (a) | Requesting money or imposing other disadvantages without good cause in response to a financial consumer's request for change or termination of a contract or change or termination of a contract; |
| (b) | Refusing a financial consumer's request for a reduction of interest rates or insurance premiums pursuant to a contract or statutes, or delaying the processing thereof without good cause; |
| (c) | Failure to reflect into interest rates or loan limits financial consumer information confirmed pursuant to Article 17 (2) of the Act without good cause; |
| (d) | Other methods determined and publicly notified by the Financial Services Commission, as similar to those provided in items (a) through (c); |