법령 이단보기
| Article 1 (Purpose) |
법령 이단보기
| Article 2 (Scope of financial companies) |
"A person prescribed by Presidential Decree" in subparagraph 3 (e) of Article 2 of the Electronic Financial Transactions Act (hereinafter referred to as the "Act") means any of the following: <Amended on 20947, Jul. 29, 2008; May 29, 2009; Oct. 1, 2009; Nov. 22, 2013; May 31, 2016; Jun. 25, 2019; Aug. 4, 2020; Aug. 25, 2020; Feb. 17, 2022> | 1-2. | Deleted; <Dec. 30, 2014> |
| 4. | Cooperatives under the Forestry Cooperatives Act and the credit business division of the federation of Forestry Cooperatives; |
| 8-2. | Electronic registry under the Act on Electronic Registration of Stocks, Bonds, Etc. |
| 10. | Insurance association and insurance premium rate calculation institution under the Insurance Business Act; |
| 13. | Deleted; <Jul. 29, 2008> |
| 15. | The Korea Asset Management Corporation under the Act on the Establishment of Korea Asset Management Corporation; |
| 19. | An online investment-linked financial business entity under subparagraph 3 of Article 2 of the Act on Online Investment-Linked Financial Business and the Protection of Users. |
[Title Amended on Nov. 22, 2013]
법령 이단보기
| Article 3 Deleted. <Sep. 10, 2024> |
법령 이단보기
| Article 4 (Requirements for wide use of electronic currency) |
| (1) | "Areas and chain stores which meet the standards prescribed by Presidential Decree" in subparagraph 15 (a) of Article 2 of the Act means two or more metropolitan local governments (referring to the local governments under Article 2 (1) 1 of the Local Autonomy Act; hereinafter the same shall apply) and 500 or more chain stores. |
| (2) | "Number of business categories prescribed by Presidential Decree" in subparagraph 15 (c) of Article 2 of the Act means five business categories. |
법령 이단보기
| Article 4-2 (Scope of chain stores) |
"Persons prescribed by Presidential Decree" in subparagraph 20 (b) of Article 2 of the Act means the following: | 1. | A person registered pursuant to the main clause, with the exception of the subparagraphs, of Article 28 (2) of the Act to engage in the services: |
| (a) | Services referred to in Article 28 (2) 4 of the Act; |
| 2. | A person provided in the proviso to Article 28 (2) of the Act, with the exception of its subparagraphs, who performs the services specified in the items of subparagraph 1; |
| 3. | A person prescribed and publicly notified by the Financial Services Commission as a person who can stably conduct transactions by electronic debit payment means, electronic prepayment means, or electronic currency on his or her behalf. |
[This Article Added on Sep. 10, 2024]
법령 이단보기
| Article 5 (Exception to scope of application) |
| (1) | "Electronic financial transactions prescribed by Presidential Decree" in the proviso to Article 3 (1) of the Act means any of the following cases: |
| 1. | Electronic financial transactions using the payment gateway system under subparagraph 6 of Article 2 of the Act; |
| (2) | "Financial companies prescribed by Presidential Decree" in the provisions, with the exception of its subparagraphs, of Article 3 (3) of the Act means any of the following financial companies that does not engage in electronic financial transactions under subparagraph 1 of Article 2 of the Act: <Added on Nov. 22, 2013; Aug. 4, 2020; Aug. 25, 2020> |
| 1. | Financial companies under subparagraph 3 (a) through (d) of Article 2 of the Act; |
| 2. | Financial companies under subparagraphs 4 through 6 of Article 2; |
| 3. | A credit information company and claims collection agency under subparagraph 14 of Article 2; |
| 4. | An online investment-linked financial business entity under subparagraph 19 of Article 2. |
법령 이단보기
| Article 6 (Renewal, replacement or return of means of access) |
| (1) | Where a financial company or an electronic financial business entity obtains consent specified in the following subparagraphs under the proviso to Article 6 (2) of the Act, with the exception of its subparagraphs, or under subparagraph 2 of that paragraph, it or he or she may renew or replace a means of access even without the user's application or verification of his or her identity: |
| 1. | Where the user's written consent [including consent obtained in the form of electronic documents bearing a digital signature under subparagraph 2 of Article 2 of the Digital Signature Act (limited to signature legible to identify the real name of the signer)] is obtained with respect to the renewal or replacement of a means of access that has not been used within six months before the expected date of renewal or replacement; |
| 2. | Access media that has been used within six months before the scheduled date of renewal or replacement: Where an implied consent is obtained because no user has raised an objection within such period after notifying the user of the fact that it is scheduled to be issued and that an objection may be raised within 20 days one month before the scheduled date of renewal or replacement. |
| (2) | Where a financial company, an electronic financial business entity, or a subsidiary electronic financial business entity (hereinafter referred to as "financial company, etc.") has acquired a means of access by users for any of the following reasons, it may verify the user himself or herself when returning the means of access to the users pursuant to Article 6 (4) of the Act: |
| 1. | Failure or error in electronic devices; |
| 2. | Loss of a user's means of access; |
| 3. | Other reasons prescribed and publicly notified by the financial services commission, which are reasons for which the financial company, etc. inevitably obtains the means of access. |
| (3) | The methods of identification under Article 6 (4) of the Act shall be as follows: |
| 1. | Requesting the presentation of identification cards, such as resident registration certificates, driver's license, passports, alien registration cards, etc. or other documents verifying the identification of the relevant person and verifying the identification; |
| 3. | Other methods prescribed and publicly notified by the Financial Services Commission as a method to identify the user of a means of access. |
[This Article Wholly Amended on Nov. 17, 2020]
법령 이단보기
| Article 6-2 (Procedures for raising objection) |
| (1) | Where a person to whom the provision of telecommunications services were suspended following a request made pursuant to Article 6-2 (1) of the Act intends to raise an objection, he or she shall submit to the institution that requested suspension of provision of telecommunications services pursuant to paragraph (1) of the same Article (hereafter referred to as "institution requesting suspension of provision" in this Article), within 30 days from the date of suspension of provision of telecommunications services, documents stating the following: |
| 1. | Title or name, address, and contact information of a person raising an objection; |
| 2. | Grounds for raising an objection; |
| 3. | Date of suspension of provision of telecommunications services. |
| (2) | The institution requesting suspension of provision shall make a decision on the raised objection within 15 days from the date of receiving the objection, and inform the person who raised an objection of the result thereof in writing; provided, where the decision cannot be made during the period due to any inevitable reason, the institution may extend the period by up to 15 days, and shall inform the person who raised an objection of the grounds for and period of extension. |
| (3) | Where the documents submitted pursuant to paragraph (1) have any defect or further facts need to be verified, the institution requesting suspension of provision may request supplementation. In such cases, the period of supplementation shall not be included in the period referred to in the main sentence of paragraph (2). |
| (4) | Where the institution requesting suspension of provision deems the objection raised under Article 6-2 (2) of the Act reasonable, it shall request, without delay, cancellation of suspension of provision of telecommunications services to the Minister of Science and ICT. <Amended on Jul. 26, 2017> |
[This Article Added on Jun. 28, 2016]
법령 이단보기
| Article 7 (Confirmation of transaction details) |
| (1) | Where a financial company or an electronic financial business entity enables any user to confirm transaction details through electronic apparatus under Article 7 (1) of the Act, if it or he or she prevents any user from confirming transaction details due to the operational failure of the electronic apparatus or other causes, it shall immediately notify the user of such fact through the Internet, etc. and enable the user to confirm transaction details from the date when such cause ceases to exist. <Amended on Nov. 22, 2013> |
| (2) | Upon receiving a user's request for the issuance of transaction details in writing (excluding any electronic document; hereinafter the same shall apply) under Article 7 (2) of the Act, if an financial company or an electronic financial business entity is unable to provide such transaction details due to the operational failure of electronic apparatus or other causes, it or he or she shall immediately notify the user thereof. In such case, in calculating the period for the delivery of transaction details in writing under Article 7 (2) of the Act, the period during which the transaction details cannot be provided due to the operational failure of the electronic apparatus or other causes shall not be counted. <Amended on Nov. 22, 2013> |
| (3) | The coverage period for the transaction details under Article 7 (3) of the Act shall be the period for which the electronic financial transaction records are preserved under each subparagraph of Article 12 (1). <Amended on Apr. 14, 2015> |
| (4) | The types (excluding inquiry transactions; hereafter the same shall apply in this Article) and scope of the transaction details under Article 7 (3) of the Act shall be as follows: <Amended on Feb. 29, 2008; Nov. 22, 2013> |
| 1. | The type (in cases of insurance policy contracts, referring to the type of insurance contract) and amount of an electronic financial transaction and information on the other party to an electronic financial transaction; |
| 2. | The date and time of an electronic financial transaction, and types of the electronic apparatus, and the information to help identify the type of electronic apparatus; |
| 3. | Where an electronic financial transaction is made through a bank account, the title or number of the account (in cases of insurance contracts, referring to the insurance policy number); |
| 4. | Fees received by a financial company or an electronic financial business entity in exchange for an electronic financial transaction; |
| 5. | Matters concerning the consent of a payer to withdrawal under Article 15 (1) of the Act; |
| 6. | Other matters necessary for the confirmation of the user's electronic financial transaction details, which are determined and publicly announced by the Financial Services Commission. |
| (5) | With respect to the provision of transaction details in writing under Article 7 (2) of the Act, a financial company or an electronic financial business entity shall prescribe the methods and procedures for making such a request, the address and telephone number of reception counter (including electronic mailing address), etc. in the standardized contract relating to an electronic financial transaction (hereinafter referred to as a "standardized contract"). <Amended on Nov. 22, 2013> |
법령 이단보기
| Article 7-2 (Method of notifying correction of errors) |
"Methods prescribed by Presidential Decree" in Article 8 (2) and (3) of the Act means a written notice or a notice given by phone or email; provided, the notice shall be given in writing, if a user requests a written notice. <Amended on Nov. 22, 2013> [This Article Added on Mar. 31, 2009]
법령 이단보기
| Article 8 (Scope of intention or gross negligence) |
The scope of intention or gross negligence under Article 9 (3) of the Act means any of the following cases: <Amended on Nov. 22, 2013> | 1. | Where the user has rented a means of access or delegated the use thereof to a third person, or has offered the means of access as an object of transfer or security (excluding cases where an electronic prepayment means or electronic currency is transferred or offered as security under Article 18 of the Act); |
| 2. | Where a means of access is divulged or exposed, or left neglected despite knowing or being able to easily access the information that a third person is able to make an electronic financial transaction using the user’s means of access without authorization; |
| 3. | Where an incident under Article 9 (1) 3 of the Act occurs because the user refuses, without any good cause, to take additional security measures which, in addition to the confirmation under Article 6 (1) of the Act, a financial company or an electronic financial business entity requests to enhance security in electronic financial transactions; |
| 4. | Where an accident under Article 9 (1) 3 of the Act occurs because the user performs any of the following acts with regard to the medium, means, or information used for additional security measures referred to in subparagraph 3: |
| (a) | Divulging, exposing, or leaving it neglected; |
| (b) | Renting it or delegating the use thereof to a third person, or offering it as an object of transfer or security. |
법령 이단보기
| Article 9 (Liability for loss or theft of electronic prepayment means or electronic currency) |
"Cases prescribed by Presidential Decree" in the proviso to Article 10 (1) of the Act means a case where a prior agreement has been reached between a financial company or an electronic financial business entity and users, which stipulates that liability for any loss of the amount saved before a notification of the loss or theft of an electronic prepayment means or electronic currency is given may be borne by the user. <Amended on Nov. 22, 2013>
법령 이단보기
| Article 9-2 (Delay of time when payment of electronic funds transfer takes effect) |
| (1) | "Financial companies or electronic financial business entities prescribed by Presidential Decree" in Article 13 (2) of the Act means financial companies or electronic financial business entities which, in accordance with Article 28 (2) of the Act, provide electronic fund transfer services under Article 28 (2) 1 of the Act. |
| (2) | Financial companies or electronic financial business entities under paragraph (1) shall ensure that users who desire to have the payment of electronic funds transfer take effect (hereafter referred to as "delay transfer" in this paragraph) after a certain time has elapsed since they made a transaction request in accordance with Article 13 (2) of the Act can make a transaction request allowing a delay transfer, by computer, telephone, and other electronic means determined and publicly announced by the Financial Services Commission. |
[This Article Added on Apr. 14, 2015]
법령 이단보기
| Article 10 (Method of consent to withdrawal of deposits) |
Methods to obtain the consent of a payer to the withdrawal of a deposit under Article 15 (1) of the Act shall be as follows: <Amended on Jul. 9, 2008; May 7, 2012; Nov. 22, 2013> | 1. | The method by which a financial company or an electronic financial business entity obtains the consent of a payer to the withdrawal of a deposit using the methods determined by the Financial Services Commission, such as writing (including the electronic documents determined and publicly announced by the Financial Services Commission; hereafter the same shall apply in this Article) or tape recording; |
| 2. | The method by which a payee obtains the consent of a payer to the withdrawal of a deposit using the methods determined by the Financial Services Commission, such as writing or tape recording, and delivers it to a financial company or an electronic financial business entity (including transmitting the details of the consent to the withdrawal of a deposit by electronic means). |
법령 이단보기
| Article 11 (Method of issuance and exchange of electronic currency) |
| (1) | "Amount prescribed by Presidential Decree" in the proviso to Article 16 (1) of the Act means 50,000 won. |
| (2) | Where the electronic currency issuer issues or exchanges electronic currency with cash or deposits under Article 16 (1), (2), and (4) of the Act, it shall do so by passing through the central computer system of the electronic currency issuer, and record and manage following matters; provided, in cases of electronic currency under the proviso to Article 16 (1) of the Act, it may not pass through the central computer system of the electronic currency issuer and may not record and mange matters under subparagraph 2: |
| 1. | Date and time, and amount of issuance or exchange of electronic currency; |
| 2. | Applicant for the issuance or exchange of electronic currency; |
| 3. | Identification number of the means of access of electronic currency; |
| 4. | Other matters concerning the issuance or exchange of electronic currency. |
| (3) | The electronic currency issuer shall, upon the request from an electronic currency holder to exchange electronic currency with cash or deposits, comply with such request for exchange in every place where it is issued; provided, in cases of electronic currency under the proviso to Article 16 (1) of the Act, if the electronic currency issuer has determined a separate place of exchange and notified the user thereof within the scope not to impair the convenience of exchange, the electronic currency issuer may comply with such request for exchange only at such place. |
| (4) | The electronic currency issuer shall, when an electronic currency holder demands an exchange, immediately pay the whole amount demanded for exchange in cash or pay it to the bank account of the electronic currency holder; provided, if the electronic currency issuer is unable to confirm the amount demanded for exchange due to damage, etc. to electronic currency, the electronic currency issuer shall pay such amount immediately after confirming the request for payment of price by the chain store of the relevant electronic currency and details of settlement, etc. resulting therefrom within 15 days from the date when the exchange is demanded. |
법령 이단보기
| Article 11-2 (Grounds for exceptions to full refund of balance of electronic prepayment means) |
"Where good causes prescribed by Presidential Decree exist" in the proviso to Article 19 (2) 4 of the Act means the following cases: | 1. | Where the Minister of Land, Infrastructure and Transport terminates a chain store agreement pursuant to Article 38 (4) of the Act; |
| 2. | Where a chain store agreement is terminated pursuant to the terms and conditions stating that a chain store agreement is terminated if the store violates any of the following statutes or regulations: |
| (c) | Other statutes or regulations related to the protection of users and the maintenance of sound trading practices, which are prescribed and publicly notified by the Financial Services Commission. |
| 3. | Where it is unlikely to undermine the interests of users who intend to purchase the goods or services provided by the chain store because other chain stores where the electronic prepayment means is allowed to use are sufficient, even if the number of chain stores where the electronic prepayment means is allowed to use is reduced; |
| 4. | In cases equivalent to those provided in subparagraph 1 through 3, in which there are good causes prescribed and publicly notified by the Financial Services Commission. |
[This Article Added on Sep. 10, 2024]
[Previous Article 11-2 moved to Article 11-3 <Sep. 10, 2024>]
법령 이단보기
| Article 11-3 (Financial companies required to establish plans for information technology sector) |
| (1) | "Financial companies and electronic financial business entities prescribed by Presidential Decree" in Article 21 (4) of the Act means any of the following: |
| 1. | Financial companies under subparagraph 3 (a), (b) and (e) of Article 2 of the Act; |
| 2. | Electronic financial business entities. |
| (2) | A plan for the information technology sector under Article 21 (4) of the Act shall include the following: |
| 1. | Implementation goals and strategies for the information technology sector; |
| 2. | Performance of the information technology sector in the immediately preceding business year and implementation plans for the relevant business year; |
| 3. | The current state of operation, including organization of the information technology sector; |
| 4. | Budgets in the information technology sector for the immediately preceding business year and the relevant business year; |
| 5. | Other matters determined and publicly announced by the Financial Services Commission which are necessary for the information technology sector to ensure safe electronic financial transactions. |
| (3) | The plan for the information technology sector under Article 21 (4) of the Act shall be submitted to the Financial Services Commission within three months from the first day of each business year. |
| (4) | Details of the matters to be included in the plan for the information technology sector pursuant to paragraph (2) or necessary matters concerning the method of submission, etc. shall be determined and publicly announced by the Financial Services Commission. |
[This Article Added on Nov. 22, 2013]
[Moved from Article 11-2; previous Article 11-3 moved to Article 11-4 <Sep. 10, 2024>]
법령 이단보기
| Article 11-4 (Financial companies required to designate chief information security officers) |
| (1) | "Financial company or electronic financial business entity prescribed by Presidential Decree" in Article 21-2 (2) of the Act means any financial company or electronic financial business entity that employs at least 300 full-time employees, with a total assets of at least two trillion won as of the last day of the immediately preceding business year. In such cases, the method of calculating the number of full-time employees shall be determined and publicly announced by the Financial Services Commission. <Amended on Nov. 22, 2013> |
| (2) | "Financial companies or electronic financial business entities prescribed by Presidential Decree" in Article 21-2 (3) of the Act means any financial company that employs at least 1,000 full-time employees, with a total assets of at least ten trillion won. In such cases, the latter part of paragraph (1) shall apply mutatis mutandis to the method for calculating the number of full-time employees. <Added on Apr. 14, 2015> |
| (3) | "Matters prescribed by Presidential Decree" in Article 21-2 (4) 5 of the Act means the following matters: <Added on Nov. 22, 2013; Apr. 14, 2015> |
| 1. | Matters concerning internal deliberation for security of electronic financial business and the information technology sector on which such business is based; |
| 2. | Matters concerning education of executive officers and employees on security of the information technology sector. |
| (4) | Qualifications for a chief information security officer prescribed in Article 21-2 (5) of the Act are as specified in Appendix 1. <Amended on Apr. 14, 2015> |
[This Article Added on May 7, 2012]
[Title Amended on Nov. 22, 2013]
[Moved from Article 11-3; previous Article 11-4 moved to Article 11-5 <Sep. 10, 2024>]
법령 이단보기
| Article 11-5 (Details of analysis and assessment of vulnerability of electronic financial infrastructure) |
"Matters prescribed by Presidential Decree" in Article 21-3 (1) 4 of the Act means either of the following matters: | 1. | Matters concerning the data processing system, etc. of subsidiary electronic financial business entities linked to the information technology sector; |
| 2. | Other matters necessary for securing stability and reliability of electronic financial transactions, which are determined and publicly announced by the Financial Services Commission. |
[This Article Added on Nov. 22, 2013]
[Moved from Article 11-4; previous Article 11-5 moved to Article 11-6 <Sep. 10, 2024>]
법령 이단보기
| Article 11-6 (Procedure, method for analysis and assessment of vulnerability of electronic financial infrastructure) |
| (1) | Where a financial company or an electronic financial business entity intends to analyze or assess the vulnerability of electronic financial infrastructure pursuant to Article 21-3 (1) of the Act, it or he or she shall do so by organizing an internal team or by entrusting such duties to an external institution with expertise. In such cases, the standards for organizing the internal team and for the external institution to which such duties may be entrusted shall be determined and publicly announced by the Financial Services Commission. |
| (2) | The analysis and assessment of the vulnerability of electronic financial infrastructure under Article 21-3 (1) of the Act shall be conducted at least once each business year; provided, the analysis and assessment of vulnerability shall be conducted without delay in any of the following cases: |
| 1. | Where an infringement incident under Article 21-5 (1) of the Act occurs, requiring urgent measures to be taken in order to prevent any damage therefrom and the spread of the damage; |
| 2. | Where information technology-related affairs, such as the establishment of a data processing system and Internet site, have been carried out, or where the functions of information technology have been improved or modified. |
| (3) | Where a financial company or an electronic financial business entity has analyzed and assessed the vulnerability of electronic financial infrastructure pursuant to Article 21-3 (1) of the Act, it or he or she shall submit to the Financial Services Commission a report on results thereof containing the following matters and an implementation plan for complementary measures within 30 days after the analysis and assessment of vulnerability are completed: |
| 1. | Overview of the analysis and assessment of vulnerability, such as grounds therefor, targets and periods thereof; |
| 2. | Detailed methods for conducting the analysis and assessment of vulnerability; |
| 3. | Results of the analysis and assessment of vulnerability; |
| 4. | Implementation plans for necessary complementary measures following the results of the analysis and assessment of vulnerability; |
| 5. | Other matters necessary for securing propriety of analysis and assessment of vulnerability, which are determined and publicly announced by the Financial Services Commission. |
| (4) | Notwithstanding paragraphs (1) through (3), the Financial Services Commission may determine and publicly announce applicable standards established after relaxing the following matters, for financial companies and electronic financial business entities failing to satisfy the standards determined and publicly announced by the Financial Services Commission, taking into account the frequency of electronic financial transactions, the total assets, the number of full-time employees, etc.: |
| 1. | Methods of analysis and assessment of vulnerability under paragraph (1); |
| 2. | The cycle of analysis and assessment of vulnerability under the main body of paragraph (2), with the exception of its subparagraph; |
| 3. | The deadline for submission of a report on the results of analysis and assessment and an implementation plan for complementary measures under paragraph (3) and matters to be included when they are submitted. |
[This Article Added on Nov. 22, 2013]
[Moved from Article 11-5; previous Article 11-6 moved to Article 11-7 <Sep. 10, 2024>]
법령 이단보기
| Article 11-7 (Duties of Financial Services Commission for response to infringement incidents) |
| (1) | "Matters prescribed by Presidential Decree" in Article 21-6 (1) 4 of the Act means any of the following: |
| 1. | Matters concerning the operation of a headquarter for countermeasures against infringement incidents that controls and manages responses to infringement incidents and the designation of an institution for responding to infringement incidents to urgently cope therewith; |
| 2. | Matters concerning the establishment of contingency plans, training, etc. to cope with infringement incidents; |
| 3. | Investigation of infringement incidents and matters concerning requests for the provision, etc. of information on a relevant financial company, electronic financial business entity, subsidiary electronic financial business entity, etc.; |
| 4. | Matters concerning notification, etc. of security vulnerability to a person that has manufactured infringement incident-related software used by financial companies or electronic financial business entities, and to relevant administrative agencies, etc. |
| (2) | Where necessary to carry out duties referred to in Article 21-6 (1) of the Act, the Financial Services Commission may request the cooperation of relevant administrative agencies, etc., such as the provision of relevant information. |
[This Article Added on Nov. 22, 2013]
[Moved from Article 11-6 <Sep. 10, 2024>]
법령 이단보기
| Article 12 (Preservation period and method, destruction procedure and method of electronic financial transaction records) |
| (1) | The preservation period of electronic financial transaction records by type under Article 22 (1) and (3) of the Act shall be as follows: <Amended on Feb. 29, 2008; Apr. 14, 2015> |
| 1. | The electronic financial transaction records in each of the following shall be preserved for five years: |
| (b) | Connection records of electronic apparatus related to the relevant electronic financial transaction; |
| (c) | Matters concerning the request for and changes in the conditions of an electronic financial transaction; |
| (d) | Records of electronic financial transactions the transaction amount of which per case exceeds 10,000 won; |
| 2. | The electronic financial transaction records in each of the following shall be preserved for one year: |
| (a) | Records of electronic financial transactions the transaction amount of which per case is 10,000 won or less; |
| (b) | Records of the approval for transactions related to the use of an electronic payment means; |
| (c) | Other electronic financial transaction records determined and publicly announced by the Financial Services Commission. |
| (2) | The period for which a subsidiary electronic financial business entity that creates and preserves the same electronic financial transaction records as those of a financial company or an electronic financial business entity is required to preserve electronic financial transaction records referred to in each item of paragraph (1) 1 shall be three years, notwithstanding the same subparagraph. <Amended on Nov. 22, 2013; Apr. 14, 2015> |
| (3) | A financial company, etc. shall preserve the electronic financial transaction records referred to in paragraphs (1) and (2) in writing, microfilm, disc, magnetic tapes, and other methods using electronic information processing systems. <Amended on Nov. 22, 2013; Apr. 14, 2015; Nov. 17, 2020> |
| (4) | Where a financial company, etc. preserves electronic financial transaction records in the form of disks, magnetic tapes and other electronic data processing medium under paragraph (3), it shall satisfy all the requirements referred to in each subparagraph of Article 5 (1) of the Framework Act on Electronic Documents and Transactions. <Amended on Aug. 31, 2012; Nov. 22, 2013; Apr. 14, 2015> |
| (6) | The date when a commercial transaction relation is terminated under Article 22 (3) shall be determined on the basis of the date when the commercial transaction relations between a financial company, etc. and the other party to a transaction is terminated in accordance with any relevant Act and subordinate statute, contractual terms and conditions or mutual agreement, due to the extinguishment of claims which results from the expiration of a contact, the exercise of a termination right, a rescission right or a cancellation right, the completion of extinctive prescription, or the repayment of claims, or due to any other cause. <Added on Apr. 14, 2015> |
[Title Amended on Apr. 14, 2015]
법령 이단보기
| Article 13 (Limit on use) |
| (1) | The maximum face value of electronic currency under Article 23 (1) 1 shall be two million won, and the maximum face value of electronic prepayment means shall be 500,000 won; provided, the maximum face value of electronic prepayment means shall be the amount classified as follows: <Amended on Apr. 28, 2020; May 28, 2024> |
| (2) | The limit of use of electronic funds transfer under Article 23 (1) 2 of the Act shall be determined and publicly announced by the Financial Services Commission; provided, where a separate contract has been concluded between a financial company or an electronic financial business entity and a user, such limit may be determined otherwise. <Amended on Feb. 29, 2008; Jul. 9, 2008; Nov. 22, 2013> |
| (3) | The limit of use of electronic debit payment means under Article 23 (1) 3 of the Act not exceeding 100 million won shall be determined and publicly announced by the Financial Services Commission; provided, where a separate contract has been concluded between a financial company or an electronic financial business entity and a user, such limit may be determined otherwise. <Amended on Feb. 29, 2008; Jul. 9, 2008; Nov. 22, 2013> |
| (4) | The upper limit of cash withdrawal from electronic apparatus under Article 23 (2) of the Act not exceeding ten million won shall be determined and publicly announced by the Financial Services Commission ; provided, such limit may be determined otherwise, if a separate contract has been concluded between a financial company or an electronic financial business entity and a user. <Added Nov. 22, 2013> |
| (5) | Detailed matters on the limit of use under the main bodies of paragraphs (2) and (3) and the upper limit under the main sentence of paragraph (4) shall be determined and publicly announced by the Financial Services Commission, with regard for the method, frequency, period, etc. of electronic funds transfer. <Amended on Feb. 29, 2008; Jul. 9, 2008; Nov. 22, 2013> |
[[The amended provisions of Article 13 (1) 1 of Presidential Decree No. 30654 (Apr. 28, 2020) shall remain valid until September 30, 2020 pursuant to Article 2 of the Addenda of that Act]
법령 이단보기
| Article 13-2 (Separate management of prepaid recharging money) |
| (1) | The prepaid recharging money under Article 25-2 (1) of the Act, with the exception of its subparagraphs, shall be the amount obtained by subtracting the amount referred to in subparagraph 2 from the amount under subparagraph 1: |
| 1. | The aggregate of the following amount: |
| (a) | The amount paid by a user in exchange for the issuance of electronic prepayment means; |
| (b) | Amount equivalent to the economic benefits given by a prepaid business entity to a user, such as the payment of discounted issuance or reserves of electronic prepayment means [referring to the accumulation of the value of economic benefits given to a user into money corresponding to the amount referred to in item (a) by a prepaid business entity under Article 25-2 (1) of the Act (hereinafter referred to as "prepaid business entity"), with the exception of its subparagraphs]; |
| (c) | Where a user has transferred an electronic prepayment means from a user of another electronic prepayment means, the amount calculated by converting the monetary value of the transferred electronic prepayment means. |
| 2. | The aggregate of the following amount: |
| (a) | The amount obtained by subtracting the amount calculated by converting the monetary value of the electronic prepayment means refunded due to the cancellation of the purchase of goods or services from the amount obtained by converting the monetary value of the electronic prepayment means used by the user to purchase goods or services and pay the price thereof; |
| (b) | Where a user has transferred an electronic prepayment means to a user of another electronic prepayment means, the amount calculated by converting the monetary value of the transferred electronic prepayment means; |
| (c) | Where a claim that a user has against a prepaid payment business entity with respect to an electronic prepayment means is extinguished by refund, etc. of the electronic prepayment means under Article 19 of the Act, the amount of such extinguished claim. |
| (2) | The "amount prescribed by Presidential Decree" in Article 25-2 (1) of the Act, with the exception of its subparagraphs, means an amount equivalent to at least 100/100 of the amount of prepaid recharging money referred to in paragraph (1) (hereinafter referred to as "prepaid recharging money"). |
| (3) | "Financial companies prescribed by Presidential Decree, such as banks in Article 25-2 (1) of the Act", with the exception of its subparagraphs, means the following financial companies: |
| 1. | Where the prepaid recharging money is managed pursuant to Article 25-2 (1) 1 of the Act by means of a trust under Article 25-2 (1) 1 of the Act (hereinafter referred to as "separate management"): The following financial companies: |
| (ii) | Financial companies under subparagraphs 1 or 2 of Article 2; |
| (iii) | Other financial companies prescribed and publicly notified by the Financial Services Commission; |
| 2. | Where prepaid recharging money is separately managed by means of depositing it under Article 25-2 (1) 2 of the Act: The following financial companies: |
| (b) | Financial companies under subparagraph 3 (c) of Article 2 of the Act; |
| (c) | Financial companies under subparagraphs 1 and 2 of Article 2; |
| (d) | Other financial companies prescribed and publicly notified by the Financial Services Commission; |
| (4) | "Payment guarantee insurance by the method prescribed by Presidential Decree" in Article 25-2 (1) 3 of the Act means a payment guarantee insurance that meets all of the following requirements: |
| 1. | Where a prepaid business entity falls under any subparagraph of Article 25-2 (7) of the Act, the payment guarantee insurance shall contain a provision of preferential payment to the user of the amount calculated pursuant to Article 13-5 (2) 1 by the insurance company referred to in paragraph (3) 3; |
| 2. | The insured shall be a user; |
| 3. | Other requirements prescribed and publicly notified by the Financial Services Commission for the protection of users. |
[This Article Added on Sep. 10, 2024]
법령 이단보기
| Article 13-3 (Methods of operating prepaid recharging money) |
Where a prepaid recharging money management agency under Article 25-2 (1) of the Act (hereinafter referred to as "prepaid recharging money management agency") operates a prepaid recharging money by means of a trust under subparagraph 1 of that paragraph, or where a prepaid business entity directly operates a prepaid recharging money pursuant to paragraph (2) of that Article, it shall operate it by the following methods: | 1. | The prepaid recharging money shall be operated by any of the following methods: |
| (a) | Deposit in a financial company under Article 13-2 (3) 2 (hereafter referred to as "bank, etc." in this subparagraph); |
| (b) | Purchase of any of the following: |
| (i) | State bonds or local government bonds; |
| (ii) | Debt securities, the payment of which is guaranteed by the Government, local governments, banks, etc.; |
| (iv) | A transferable certificate of deposit issued by a bank, etc.; |
| (v) | Bonds (excluding subordinated bonds and stock-related bonds) issued by banks, etc.; |
| (vii) | Repurchase agreements [limited to securities, transferable deposit certificates, or bonds referred to in paragraphs (i) through (vi), which can be redeemed]; |
| (c) | Other methods prescribed and publicly notified by the Financial Services Commission in consideration of the safety, etc. of the operation of the prepaid recharging money; |
| 2. | Assets shall be managed as assets denominated in the same currency as those denominated in the currency indicating the amount recorded in the electronic prepayment means; |
| 3. | Other matters necessary for the safe operation of the prepaid recharging money, which shall be managed in compliance with the matters prescribed and publicly notified by the Financial Services Commission. |
[This Article Added on Sep. 10, 2024]
법령 이단보기
| Article 13-4 (Exceptional grounds for transfer of prepaid recharging money) |
"Cases prescribed by Presidential Decree, such as merger or transfer of business" in Article 25-2 (6) of the Act means the following cases: | 1. | Where a prepaid business entity transfers prepaid recharging money to a company surviving or newly established as a consequence of a merger with another financial company or electronic financial business entity that issues electronic prepayment means, or a newly established merger with another financial company or electronic financial business entity that issues electronic prepayment means; |
| 2. | Where a prepaid business entity transfers all or part of its business related to the issuance and management of electronic prepayment means to another financial company or electronic financial business entity that issues electronic prepayment means and transfers a prepaid recharging money to a transferee under a transfer agreement; |
| 3. | Other cases prescribed and publicly notified by the Financial Services Commission as those where the protection of users is unlikely to be undermined. |
[This Article Added on Sep. 10, 2024]
법령 이단보기
| Article 13-5 (Methods and procedures for payment of prepaid recharging money to users) |
| (1) | Where a user intends to request the payment of a separately managed prepaid recharging money pursuant to the former part of Article 25-2 (7) of the Act, he or she shall submit a document stating the following matters to the management agency of the prepaid recharging money management agency: |
| 1. | Information that can identify the user or prepaid electronic payment means; |
| 2. | Information on accounts to which prepaid recharging money is to be paid. |
| (2) | Upon receipt of a user's request pursuant to paragraph (1), the prepaid recharging money management agency shall preferentially pay the prepaid recharging money to the user pursuant to the following methods and procedures: |
| 1. | The amount to be paid to users shall be calculated by the following methods: |
| (a) | It shall be limited to the total amount of prepaid recharging money separately managed by a prepaid recharging money management agency as of the date on which it falls under any subparagraph of Article 25-2 (7) of the Act; |
| (b) | It shall be calculated by multiplying the ratio obtained by dividing the total amount of prepaid recharging money separately managed by a prepaid recharging money management agency by the prepaid recharging money of each user; provided, where the total amount of prepaid charges separately managed by the prepaid recharging money management agency is greater than or equal to the total amount of recharging money of each user, the amount paid to an user shall be the total amount of prepaid recharging money of each user. |
| 2. | The amount calculated pursuant to subparagraph 1 shall be paid through the following procedures: |
| (a) | The prepaid business entity shall verify the information referred to in the subparagraphs of Article 25-2 (10) of the Act; |
| (b) | The following matters determined by a prepaid business entity in consultation with a prepaid recharging money management agency shall be publicly announced in at least two daily newspapers within one month from the date on which any cause falling under any subparagraph of Article 25-2 (7) of the Act occurs and shall be posted on the website of the prepaid business entity [including an application used in a mobile communications terminal device defined in subparagraph 4 of Article 2 of the Mobile Device Distribution Improvement Act and other places opened by the prepaid business entity in a virtual space through an application or any other similar application program; hereinafter the same shall apply]: |
| (i) | Reasons for, timing for, and method of paying the prepaid recharging money; |
| (ii) | Other matters concerning the payment of prepaid recharging money. |
| (3) | Where any cause falling under any subparagraph of Article 25-2 (7) of the Act occurs, the relevant prepaid business entity shall immediately notify a person provided in paragraph (4) of this Article of such fact pursuant to paragraph (8) of that Article. |
| (4) | "A person prescribed by Presidential Decree, such as a prepaid recharging money management agency" in Article 25-2 (8) of the Act means the following persons: |
| 1. | A prepaid recharging money management agency; |
| (5) | "Period prescribed by Presidential Decree" in the latter part of Article 25-2 (9) of the Act means 14 days from the date on which a prepaid recharging money is paid. |
| (6) | "Information prescribed by Presidential Decree" in Article 25-2 (10) 3 of the Act means the following: |
| 2. | Other information on the payment of prepaid recharging money. |
[This Article Added on Sep. 10, 2024]
법령 이단보기
| Article 13-6 (Standards and methods of separate management of prepaid recharging money) |
| (1) | The standards and methods for the separate management of prepaid recharging money under Article 25-2 (13) of the Act shall be as follows: |
| 1. | The prepaid recharging money shall be managed separately from the personal property of a prepaid business entity; |
| 2. | In determining the methods of managing prepaid recharging money under Article 13-3, the scale of funds necessary for the settlement of accounts for chain stores, refund to users, etc. and the timing of settlement of accounts and refund shall be taken into consideration; |
| 3. | The prepaid business entity shall inspect the prepaid recharging money pursuant to the following standards: |
| (a) | Inspection cycle: Each business day; |
| (b) | Matters to be inspected: The amount under Article 13-2 (2) and the amount actually separately managed as of the date of inspection; |
| 4. | Where the amount actually subject to separate management based on the date of inspection under subparagraph 3 (b) is found from the inspection to falls short of the amount under Article 13-2 (2), the prepaid business entity shall separately manage the shortage by the business day following the date of inspection (where the amount is actually subject to separate management by the method provided in Article 25-2 (1) 3 of the Act, until the day on which five business days elapse from the business day following the date of inspection); |
| 5. | Other matters necessary for the management of the prepaid recharging money, which shall be in compliance with the matters prescribed and publicly notified by the Financial Services Commission. |
| (2) | The methods for inspecting the current status of management of prepaid recharging money under Article 25-2 (13) of the Act shall be as follows: |
| 1. | A report on the status of management of prepaid recharging money shall be submitted to the Financial Services Commission, as prescribed and publicly notified by the Financial Services Commission; |
| 2. | The information referred to in the subparagraphs of Article 25-2 (10) of the Act shall be managed in a manner prescribed and publicly notified by the Financial Services Commission in order to ensure the accuracy and availability of information on the prepaid recharging money. |
[This Article Added on Sep. 10, 2024]
법령 이단보기
| Article 13-7 (Details of notification of measures to protect prepaid recharging money) |
| (1) | The details of the measures to protect prepaid deposits that a prepaid business entity to users pursuant to Article 25-3 (1) of the Act shall be as follows: |
| 1. | Matters on separate management of prepaid recharging money |
| 2. | Information on the prepaid recharging management agency, such as the name of the prepaid recharging management agency; |
| 3. | Matters concerning the procedures for payment of prepaid recharging money under Article 25-2 (7) of the Act, such as grounds for payment of prepaid recharging money, methods of filing claims by users, etc. |
| (2) | When a prepaid business entity enters into a contract for electronic prepayment means with a user, it shall notify the relevant user of the details of notification under paragraph (1) of this Article pursuant to Article 25-3 (1) of the Act pursuant to Article 25-3 (1) of the Act, and continue to post such details on the website of the relevant prepaid business entity. |
| (3) | Where details of notification under paragraph (1) are changed, a prepaid business entity shall immediately change the details of notification posted on its website. |
[This Article Added on Sep. 10, 2024]
법령 이단보기
| Article 14 (Procedures for applying for settlement and mediation of disputes) |
| (1) | Any financial company or electronic financial business entity shall designate a person in charge of the settlement of disputes and its or his or her subordinate for the purpose of settling disputes, such as compensation for damage, under Article 27 (1) of the Act, and notify any user of their contact details (referring to telephone number, facsimile telegraphy number, electronic mailing address, etc.) through the Internet, etc. <Amended on Nov. 22, 2013; Jan. 5, 2021> |
| (2) | Where a user demands the settlement of a dispute, such as compensation for damage, under Article 27 (2) of the Act, he or she may file an application for the settlement of a dispute with the main office or business office of a financial company or an electronic financial business entity in writing (including any electronic document) or by using electronic apparatus. In such cases, such financial company or electronic financial business entity shall inform the user of the results of investigation or settlement of disputes, such as compensation for damage, within 15 days after the application is filed. <Amended on Nov. 22, 2013> |
법령 이단보기
| Article 15 (Exemption from permission or registration) |
| (1) | "Financial companies prescribed by Presidential Decree" in the proviso to Article 28 (1) of the Act means any of the following financial companies: <Amended on Feb. 29, 2008; May 29, 2009; Nov. 22, 2013> |
| 1. | A financial company under subparagraph 3 (c) and (d) of Article 2 of the Act; |
| 4. | Institutions under subparagraphs 1, 1-2, 2 through 6 of Article 2; |
| 5. | Deleted. <May 29, 2009> |
| (2) | "Financial companies prescribed by Presidential Decree" in the proviso to Article 28 (2) of the Act, with the exception of its subparagraphs, means any of the following financial companies: <Amended on Jun. 28, 2007; Feb. 29, 2008; Jul. 9, 2008; Jul. 29, 2008; Mar. 31, 2009; Nov. 22, 2013; Aug. 25, 2020> |
| 1. | A financial company falling under any of the subparagraphs of paragraph (1); provided, a person referred to in paragraph (1) 3 shall be excluded from the list of financial companies allowed to provide electronic funds transfer services under Article 28 (2) 1 of the Act without being registered with the Financial Services Commission; |
| 2. | Any of the following financial companies (limited to electronic funds transfer services under Article 28 (2) 1 of the Act): |
| (b) | Deleted; <Jul. 29, 2008> |
| (e) | An online investment-linked financial business entity under subparagraph 3 of Article 2 of the Act on Online Investment-Linked Financial Business and the Protection of Users. |
| (3) | "Electronic financial services prescribed by Presidential Decree" in Article 28 (2) 5 of the Act means any electronic financial service which provides or receives funds in connection with electronic financial transactions or provide or receive funds on behalf of others and which fall under any of the following subparagraphs: |
| 2. | Notifying the payer of the details of the funds to be paid by the payer to the payee on behalf of the payee by electronic means, issuing or receiving the funds directly and executing the settlement of such funds on behalf of others. |
| (4) | Deleted. <Sep. 10, 2024> |
| (5) | "Amount prescribed by Presidential Decree" in Article 28 (3) 1 (b) of the Act means the amounts as specified as follows. In such cases, the detailed method of calculating the balance of issued amount and total amount of annual issuance under Article 28 (3) 1 (b) of the Act shall be determined and publicly announced by the Financial Services Commission: <Amended on Feb. 29, 2008; Sep. 10, 2024> |
| 1. | Balance of issued amount of electronic prepayment means: 3 billion won; |
| 2. | Total annually issued amount of electronic prepayment means: 5 billion won. |
| (6) | "Case covered by a refund guarantee insurance, etc. as prescribed by Presidential Decree" in Article 28 (3) 1 (c) of the Act means any case where the payment of the following amounts is guaranteed by a financial company falling under any of the subparagraphs of Article 22 (2) or covered by a refund guarantee insurance (including mutual aid corresponding thereto): <Amended on Nov. 22, 2013; Sep. 10, 2024> |
| 2. | Where electronic prepayment means are issued in cases other than those referred to in subparagraph 1: The amount classified as follows: |
| (a) | Where electronic prepayment means can be used only for a third party other than the issuer: The total outstanding amount of unpaid balance of the electronic prepayment means; |
| (b) | Cases other than those falling under item (a): The amount obtained by multiplying the unpaid balance by the ratio used for the third party in the immediately preceding year. |
| (7) | "Electronic payment settlement agency services prescribed by Presidential Decree" in Article 28 (3) 2 of the Act means any service which simply delivers information on electronic payment transactions without providing or receiving, or providing or receiving funds on behalf of others related to electronic financial transactions. |
| (8) | "Financial incidents prescribed by Presidential Decree" in the proviso to Article 28 (4) of the Act means any of the following cases: |
| 1. | Where the refund to or settlement of account of any user or chain store has become practically impossible due to illegal or undue conduct committed by the executive officers or employees of the relevant corporation; |
| 2. | Where any user or chain store has sustained loss due to the falsification or alteration of a means of access relating to an electronic financial service concerned; |
| 3. | Where any user or chain store has sustained loss due to the operational failure of the data processing system for the management of the relevant payment means; |
| 4. | Where it is evident that the executive officers or employees of the corporation concerned or chain stores have disclosed information on electronic financial transactions of the user or violated the provisions concerning personal information or credit information protection under other statutes. |
법령 이단보기
| Article 16 (Method and procedure of registration of electronic bonds) |
| (1) | Any person that intends to register electronic bonds with an electronic bond management agency (referring to any person registered to carry out registration and management of electronic bonds under Article 29 (1) of the Act; hereafter the same shall apply in this Article) shall, in advance, enter into a contract with a financial company to open a bank account for the issuance of electronic bonds and performance of obligations. <Amended on Nov. 22, 2013> |
| (2) | Upon receipt of an application for registration of an electronic bond through a financial company, an electronic bond management agency shall verify whether any error exists in the details of such electronic bond issued, and if no error is found, it shall register it in the electronic bond registration ledger and notify the creditor thereof. <Amended on Nov. 22, 2013> |
| (3) | Where an electronic bond management agency registers an electronic bond under paragraph (2), such registered matters shall be as follows: <Amended on Nov. 22, 2013> |
| 1. | Number and type (whether it is a guaranteed bond or non-guaranteed bond) of electronic bond; |
| 2. | Matters concerning the creditor, debtor, and financial company involved in such transaction; |
| 3. | Date of issuance and period of repayment of the electronic bond; |
| 4. | Limit on the amount of the electronic bonds and actual amount issued; |
| 5. | Other matters necessary for the registration of the electronic bond. |
| (4) | An electronic bond management agency shall manage the following matters with respect to registered electronic bonds: <Amended on Nov. 22, 2013> |
| 1. | Notification of matters concerning period of repayment of electronic bonds to the debtor; |
| 2. | Details of the amount of electronic bonds repaid and the amount of electronic bonds outstanding; |
| 3. | Details of transfer of electronic bonds; |
| 4. | Details of settlements between financial companies relating to electronic bonds; |
| 5. | Matters concerning the suspension of transactions relating to electronic bonds; |
| 6. | Other matters concerning the management of electronic bonds. |
법령 이단보기
| Article 17 (Capital requirements) |
| (1) | "Amount prescribed by Presidential Decree" in Article 30 (2) of the Act, with the exception of its subparagraphs, means the amount under the following classifications: <Amended on Nov. 22, 2013> |
| 1. | In cases of electronic funds transfer services under Article 28 (2) 1 of the Act: Three billion won; |
| 2. | In cases of the issuance and management of electronic debit payment means under Article 28 (2) 2 of the Act: Two billion won; |
| 3. | In cases of the issuance and management of electronic prepayment means under Article 28 (2) 3 of the Act: Two billion won. |
| (2) | "Amount prescribed by Presidential Decree" in Article 30 (3) 1 of the Act shall be the amount as in the following: <Added on Jun. 28, 2016> |
| 1. | In cases of electronic payment settlement agency services under Article 28 (2) 4 of the Act: 300 million won; |
| 2. | In cases of the service under Article 15 (3) 1: 300 million won; |
| 3. | In cases of the service under Article 15 (3) 2: 300 million won. |
| (3) | "Amount prescribed by Presidential Decree" in Article 30 (3) 2 of the Act means the amount as in the following: <Amended on Jun. 28, 2016> |
| 1. | In cases of electronic payment settlement agency services under Article 28 (2) 4 of the Act: One billion won; |
| 2. | In cases of the service under Article 15 (3) 1: One billion won; |
| 3. | In cases of the service under Article 15 (3) 2: 500 million won; |
| 4. | In cases of the registration and management of electronic bonds under Article 29 of the Act: Three billion won. |
| (4) | Where one intends to conduct two or more services under Articles 28 and 29 of the Act, the aggregate amount classified under each subparagraph of paragraphs (1) through (3) shall be considered capital, total investments or fundamental property; provided, where such aggregate amount exceeds five billion won, it shall be five billion won. <Amended on Jun. 28, 2016> |
법령 이단보기
| Article 18 (Financial soundness standards) |
| (1) | Where any person who intends to obtain permission or make a registration under Articles 28 and 29 of the Act (hereafter referred to as "applicant" in this Article) is an institution subject to inspection by the Financial Services Commission under Article 38 of the Act on the Establishment, etc. of Financial Services Commission, such person shall meet the financial soundness standards that the Financial Services Commission determines and publicly announces, taking into account the management soundness standards, etc. determined by statutes pertaining to the establishment, operation, etc. of such institution. <Amended on Feb. 29, 2008> |
| (2) | Where any applicant is not an institution subject to inspection referred to in paragraph (1), the ratio of total debts to the equity capital, total investments or fundamental property of the applicant [Where the large stockholder of the applicant is an enterprise belonging to an enterprise group under subparagraph 11 of Article 2 of the Monopoly Regulation and Fair Trade Act (excluding enterprise groups falling under Article 38 (1) 1 and 2 of the Enforcement Decree of that Act), including such enterprise group, with the exception of companies engaged in the business of finance or insurance] shall be equivalent to or less than the ratio determined and publicly announced by the Financial Services Commission to the extent not exceeding 200/100; provided, with respect to an applicant who satisfies any of the following requirements, the Financial Services Commission may otherwise determine such ratio as prescribed and publicly notified by the Financial Services Commission: <Amended on Feb. 29, 2008; Dec. 28, 2021; Sep. 10, 2024> |
| 1. | An applicant that meets each of the following requirements: |
| (a) | The government or a metropolitan local government shall hold or invest at least 10/100 of the equity capital, total investments or fundamental property; |
| (b) | The government or a metropolitan local government shall guarantee the continuity of such business, including cases where the government or a metropolitan local government should, if it becomes impracticable for the applicant to carry out his or her business, promise to take over the relevant business; |
| (c) | A financial structure improvement plan shall be submitted in compliance with the requirements determined and publicly announced by the Financial Services Commission; |
| 2. | An applicant that meets each of the following requirements: |
| (a) | He or she shall be a domestic air operator defined in subparagraph 10 of Article 2 of the Aviation Business Act or an international air operator defined in subparagraph 12 of that Article; |
| (3) | "Major investors prescribed by Presidential Decree" in Article 31 (1) 5 of the Act are as specified in the following: <Amended on Jul. 9, 2008; Jul. 29, 2008; Sep. 5, 2017> |
| 1. | Where a person and another person in a relationship falling under any of the subparagraphs of Article 3 (1) of the Enforcement Decree of the Act on Corporate Governance of Financial Companies (hereinafter referred to as "specially related persons") with him or her holding the largest number of stocks or investment shares on the basis of the total number of voting stocks issued or total investments, the former (hereinafter referred to as the "largest stockholder"); provided, where the largest stockholder is a corporation, any of the following persons shall be included: |
| (a) | The largest stockholder of a corporation which is the largest stockholder (where a person who exercises actual control over a corporation which is the largest stockholder is not the largest stockholder of such corporation, including the person who exercises de facto control over the corporation); |
| (b) | Representative of a corporation which is the largest stockholder; |
| 2. | Stockholders or investors who are specially related persons with the largest stockholder; |
| 3. | Any person whose total amount of stock and investment shares are equivalent to 10/100 or more of the total number of voting stocks issued or the total investment for his or her own account regardless of the title thereof; |
| 4. | Stockholders or investors who effectively exercise control over the major managerial matters of the relevant corporation, such as the appointment and dismissal of executive officers. |
법령 이단보기
| Article 19 (Investors who are large stockholders) |
| (1) | "Investor prescribed by Presidential Decree" in subparagraph 1 of Article 32 of the Act means any major investor referred to in Article 18 (3). <Amended on Jul. 9, 2008> |
법령 이단보기
| Article 20 (Application method for permission and registration) |
| (1) | Any person who intends to obtain permission or apply for registration under Articles 28 and 29 of the Act shall submit an application for permission or registration stating the following matters to the Financial Services Commission: <Amended on Feb. 29, 2008> |
| 1. | Trade name and location of the main office; |
| 2. | Matters concerning executive officers; |
| 3. | Capital, and the name or title of investors (excluding small investors determined and publicly announced by the Financial Services Commission) and the ratio of interests therein; |
| 4. | Electronic financial business to be performed; |
| 5. | In cases of a person who is conducting or intends to conduct a business other than electronic financial business, the details of the relevant business (applicable only to permission). |
| (2) | Any application prescribed in paragraph (1) shall be accompanied with the following documents. In such cases, the Financial Services Commission shall confirm a corporation registration certificate (limited to cases where the applicant is a corporation) through the joint use of administrative information under Article 36 (1) of the Electronic Government Act: <Amended on Feb. 29, 2008; May 4, 2010; Nov. 2, 2010; Jan. 5, 2021> |
| 1. | Articles of incorporation and evidential document of payment of capital; |
| 2. | Financial statements and all documents annexed thereto; |
| 3. | Composition of stockholders (applicable only to permission); |
| 4. | Business plans for three years since the commencement of business (including estimated financial statements and budget statements of revenues and expenses); |
| 5. | Document stating the status of professional human resources and facilities; |
| 6. | Document stating the business status (applicable only to permission); |
| 7. | Deleted; <May 7, 2012> |
| 8. | Other documents necessary for permission or registration, which are determined and publicly announced by the Financial Services Commission. |
| (3) | The Financial Services Commission shall determine whether to grant permission within three months from the date when an application for permission under paragraph (1) is submitted and notify the applicant thereof. <Amended on Feb. 29, 2008> |
| (4) | The Financial Services Commission shall determine whether to grant registration within 20 days from the date when an application for registration under paragraph (1) is submitted and notify the applicant the result thereof. <Amended on Feb. 29, 2008; Sep. 10, 2024> |
| (5) | When the documents submitted under paragraphs (1) and (2) needs supplementation, the Financial Services Commission may make a request for supplementation thereof. In such cases, a period spent on supplementation shall not be included in the period under paragraph (3) and (4). <Amended on Feb. 29, 2008; Sep. 10, 2024> |
| (6) | The Financial Services Commission shall determine and publicly announce the form of any application prescribed in paragraph (1). <Added on May 7, 2012> |
법령 이단보기
| Article 21 (Application for cancellation of registration) |
| (1) | Any person who intends to apply for the cancellation of registration under Article 34 (1) of the Act shall submit an application for the cancellation of registration stating the following matters to the Financial Services Commission after completing user protection measures as determined and publicly announced by the Financial Services Commission: <Amended on Feb. 29, 2008> |
| 1. | Trade name and location of the main office; |
| 2. | Type of electronic financial business for the cancellation of registration; |
| 3. | Grounds for the cancellation of registration; |
| 4. | Details of user protection measures following the cancellation of registration. |
| (2) | The Financial Services Commission shall determine and publicly announce the form of any application for the cancellation of registration prescribed in paragraph (1). <Added on May 7, 2012> |
법령 이단보기
| Article 22 (Concurrently performable business) |
| (1) | "Business prescribed by Presidential Decree" in Article 35 (1) 2 of the Act means the any of the following: <Amended on Feb. 29, 2008; Nov. 22, 2013> |
| 1. | Development, sale, and lending of data processing systems and software relating to electronic financial services; |
| 2. | Execution, on behalf of others, of part of electronic financial business for financial companies and electronic financial business entities; |
| 3. | Other business necessary to carry out the business granted permission or registered under Article 28 or 29 of the Act, which is determined and publicly announced by the Financial Services Commission. |
| (2) | "Financial companies prescribed by Presidential Decree" in Article 35 (2) of the Act means any of the following financial companies: <Amended on Feb. 29, 2008; Nov. 22, 2013; May 31, 2016> |
| 5. | Financial companies under subparagraphs 1 and 2 of Article 2. |
법령 이단보기
| Article 22-2 (Requirements and procedure for approval of small-amount post-payment business) |
| (1) | Requirements for approval for the business of small-amount post-payment under Article 35-2 (1) of the Act (hereinafter referred to as "small-amount post-payment business") shall be as follows: |
| 1. | It is required to be a stock company; |
| 2. | The amount of capital shall be at least five billion won; |
| 3. | It shall meet the requirements for professional human resources and physical facilities referred to in Article 31 (1) 2 of the Act; |
| 4. | It shall meet the standards for financial soundness prescribed and publicly notified by the Financial Services Commission in consideration of the standards for financial soundness under Article 31 (1) 3 of the Act and Article 18 (1) of this Decree; |
| 5. | The business plan for small-amount post-payment shall meet all of the following requirements: |
| (a) | Prospects for income and expenditure shall be reasonable and feasible; |
| (b) | The plan to raise funds, such as capital necessary for small-amount post-payment, shall be appropriate and feasible; |
| (c) | It shall have appropriate business practices for the protection of users of small-amount post-payment; |
| (d) | The business shall be unlikely to violate any statutes or regulations or to undermine sound trading practices. |
| 6. | The method of calculating the limit of use of small-amount post-payment shall be appropriate and sound, as a method of utilizing the following information and technology: |
| (a) | Information other than the information on the results of credit standing assessment provided by a credit information company under subparagraph 5 (a) or (b) of Article 2 of the Credit Information Use and Protection Act, which is held or collected by a prepaid business entity who intends to engage in the small- amount post-payment; |
| (2) | Details necessary for requirements for approval under paragraph (1) shall be determined and publicly notified by the Financial Services Commission. |
| (3) | A prepaid business entity that intends to obtain approval for small-amount post-payment under Article 35-2 (1) of the Act shall file an application for approval stating the following with the Financial Services Commission: |
| 1. | Matters referred to in Article 20 (1) 1 through 3; |
| 2. | Details of business other than the issuance and management of electronic prepayment means, which a prepaid business entity operates or intends to operate; |
| 3. | Other matters prescribed and publicly notified by the Financial Services Commission as necessary for filing an application for approval. |
| (4) | Each application for approval to be filed under paragraph (3) shall be accompanied by the following: |
| 2. | Documents concerning composition of shareholders; |
| 3. | Documents stating the current status of business operations; |
| 4. | Other documents prescribed and publicly notified by the Financial Services Commission as necessary for approval. |
| (5) | Upon receipt of an application for approval filed under paragraph (3), the Financial Services Commission shall verify the corporation registration certificate (limited to where an applicant is a corporation) by sharing administrative information under Article 36 (1) of the Electronic Government Act. |
| (6) | The Financial Services Commission shall determine whether to grant approval within three months from the date when an application for approval under paragraph (3) is submitted and notify the applicant the result thereof. |
| (7) | When the documents submitted under paragraphs (3) and (4) needs supplementation, the Financial Services Commission may make a request for supplementation thereof. In such cases, a period spent on supplementation shall not be included in the period under paragraph (6). |
| (8) | The Financial Services Commission shall determine and publicly announce the form of application for approval prescribed in paragraph (3). |
[This Article Added on Sep. 10, 2024]
법령 이단보기
| Article 22-3 (Rules of conduct for small-amount post-payment business) |
| (1) | "Activities prescribed by Presidential Decree" in Article 35-2 (2) 3 of the Act means the following: |
| 1. | Receiving from users interest on the price for using small-amount post-payment business (regardless of its name, including economic benefits received from users in connection with the small-amount post-payment business, and excluding delayed interest due to arrears of the price for using it and other equivalent thereto); |
| 2. | Causing users to misunderstand the small-amount post-payment business as a credit card business defined in subparagraph 2 of Article 2 of the Specialized Credit Finance Business Act, or causing users to misunderstand the use of the small-amount post-payment business as the use of a credit card defined in subparagraph 3 of that Article; |
| 3. | Receiving a franchise fee for small-amount post-payment business separately from a franchise fee for electronic prepayment means; |
| 4. | Determining the date of redemption of the payment of the price for using a small-amount post-payment business (excluding the price for using it overdue by the user) as the date after the last day of the month following the month in which the small-amount post-payment date belongs; |
| 5. | Failing to comply with the following standards when providing small-amount post-payment business: |
| (a) | The user himself or herself shall separately apply for the small-amount post-payment business; |
| (c) | A prepaid business entity running small-amount post-payment business under Article 35-2 (1) of the Act (hereinafter referred to as "prepaid business entity concurrently running small-amount post-payment business") shall not provide the small-amount post-payment business in excess of the usage limit of the small-amount post-payment business calculated pursuant to the standards set by the entity. |
| 6. | Other activities determined and publicly notified by the Financial Services Commission as unlikely to undermine the protection of users and sound trading practices. |
| (2) | Details about the scope of small-amount post-payment business, the limit of use, the total limit of offering, the management of the operational soundness, management of credit information, measures to manage claim collection, measures to protect users under Article 35-2 (3) shall be as specified in Appendix 1-2. |
[This Article Added on Sep. 10, 2024]
법령 이단보기
| Article 22-4 (Rules of conduct of prepaid business entities) |
| (1) | "Requirements for financial soundness prescribed by Presidential Decree" under Article 36-2 (1) 1 of the Act means the standards for financial soundness prescribed and publicly notified by the Financial Services Commission in consideration of the standards for financial soundness under Article 18 (1) of this Decree. |
| (2) | "Period prescribed by Presidential Decree" under subparagraph 3 of Article 36-2 of the Act means by not later than seven days before the date on which it is intended to reduce chain stores eligible for using electronic prepayment means or to change the terms and conditions of using electronic prepayment means. |
| (3) | "Activities prescribed by Presidential Decree" in Article 35-2 (2) 4 of the Act means the following: |
| 1. | Failing to prepare a book concerning the issuance of electronic prepayment means; |
| 2. | Causing a user to misunderstand the electronic prepayment means issued by a prepaid business entity himself or herself as if it were issued by another person or to misunderstand the electronic prepayment means issued by another person as if it were issued by a prepaid business entity himself or herself; |
| 4. | Soliciting a person who is not a person referred to in any subparagraph of Article 4-2 of this Decree when soliciting chain stores under subparagraph 20 (b) of Article 2 of the Act; |
| 5. | Where a prepaid business entity pays the whole balance recorded in an electronic prepayment means as he or she falls under Article 19 (2) 4 of the Act, failing to continuously post the details of the refund of the electronic prepayment means on the website of the relevant prepaid business entity for at least 30 days from the date when the number of chain stores is reduced or when the conditions of use of the electronic prepayment means are changed; |
| 6. | Where a prepaid recharging money management agency separately manages it by means of a trust under Article 25-2 (1) 1 of the Act, instructing the prepaid recharging money management agency to manage the prepaid recharging money management in a manner other than the management method under Article 13-3; |
| 7. | Failing to also notify a user of the fact that he or she may claim a refund under Article 19 (1) of the Act when the prepaid business entity reduces the number of chain stores which allows the use of an electronic prepayment means unfavorably for users pursuant to subparagraph 3 of Article 36-2 of the Act or changes the terms and conditions of use of the electronic prepayment means; |
| 8. | Other activities determined and publicly notified by the Financial Services Commission as unlikely to undermine the protection of users or sound trading practices. |
[This Article Added on Sep. 10, 2024]
법령 이단보기
| Article 22-5 (Matters to be observed by chain stores) |
"Matters prescribed by Presidential Decree" in Article 37 (5) 4 of the Act means the following matters: | 1. | Where soliciting chain stores which perform agency services under subparagraph 20 (b) of Article 2 of the Act, a chain store shall recruit persons falling under any subparagraph of Article 4-2; |
| 2. | Other matters prescribed and publicly notified by the Financial Services Commission to protect users and to maintain sound trading practices. |
[This Article Added on Sep. 10, 2024]
법령 이단보기
| Article 23 (Grounds for termination of contract of electronic financial business chain store) |
"Grounds prescribed by Presidential Decree" in Article 38 (4) of the Act means any of the following cases: | 1. | Where a chain store is sentenced to a punishment for violating Article 26 of the Act or Article 37 (3) 3 through 5 of the Act; |
| 2. | Where a written notice of the fact that a chain store violated Article 37 (1), (2) or (3) 3 through 5 of the Act is issued by a relevant administrative agency; |
| 3. | Where a written notice of the fact that a relevant chain store has ceased its business is issued by a relevant administrative agency. |
법령 이단보기
| Article 24 (Standards for management guidance) |
The standards for management guidance under Article 42 (2) of the Act shall include the following matters: <Amended on May 7, 2012> | 1. | Matters concerning the maintenance of capital, which is a requirement for permission or registration under Article 28 or 29 of the Act; |
| 2. | Matters concerning the standard for holding equity capital; |
| 3. | Matters concerning the standards for holding current assets against current liabilities; |
| 4. | Matters concerning the ratio of assets that has a low investment risk to the total assets (excluding the issuers of electronic prepayment means and electronic currency issuers); |
| 5. | Matters concerning the ratio of equity capital to the balance of outstanding redemption (limited to the issuers of electronic prepayment means and electronic currency issuers). |
법령 이단보기
| Article 25 (Authorization of merger, dissolution, business closure) |
| (1) | When the Financial Services Commission authorizes a merger, dissolution or business closure under Article 45 (1) of the Act, it shall consider the following matters: <Amended on Feb. 29, 2008; Jul. 29, 2008; Nov. 22, 2013> |
| 1. | In cases of merger under Article 45 (1) 1 of the Act: |
| (a) | It shall not hamper the efficient operations of the electronic finance industry and maintenance of credit order; |
| (b) | The operating plan and organizational management plan following a merger shall be appropriate; |
| (c) | The company to be established as a result of merger or company surviving a merger, etc. shall not violate Articles 30 through 32 of the Act; |
| 2. | In cases of dissolution or closure under Article 45 (1) 2 of the Act: |
| (a) | Any unavoidable ground shall exist in light of the management, financial standing, etc. of the relevant financial company; |
| (b) | It shall not undermine the protection of users of electronic currency and chain stores and maintenance of credit order; |
| (2) | Subparagraphs 1 and 2 of paragraph (1) shall apply mutatis mutandis to the authorization of total or partial takeover of business and authorization of total or partial transfer of business, respectively, under Article 45 (1) 3 of the Act. |
| (3) | The Financial Services Commission may determine and publicly announce the detailed conditions of authorization under Article 45 (1) of the Act, documents for application and other necessary matters. <Amended on Feb. 29, 2008> |
법령 이단보기
| Article 26 (Standards for suspension of business and imposition of penalty surcharges) |
| (1) | Standards for imposing penalty surcharges under Article 46 (1) of the Act shall be as specified in Appendix 1-3. <Added on Oct. 17, 2017> |
| (2) | The business suspension period and penalty surcharge amount by type of the violations for which an order of business suspension may be issued pursuant to Article 43 (2) of the Act or penalty surcharges may be imposed pursuant to Article 46 (2) of the Act shall be as specified in Appendix 2. <Amended on Apr. 14, 2015; Oct. 17, 2017> |
| (3) | The Financial Services Commission may increase or reduce the business suspension period under paragraph (2) or the penalty surcharge amount imposed in lieu of an order of business suspension thereunder, by up to 1/2 of such period or amount, considering the seriousness and frequency, etc. of violations; provided, even in case of increasing the business suspension period or the penalty surcharge amount, the business suspension period shall not exceed six months and the total penalty surcharge amount imposed in lieu of an order of business suspension shall not exceed 50 million won. <Amended on Feb. 29, 2008; Apr. 14, 2015; Oct. 17, 2017> |
| 1. | Deleted; <Oct. 17, 2017> |
| 2. | Deleted. <Oct. 17, 2017> |
법령 이단보기
| Article 27 (Imposition and payment of penalty surcharges) |
| (1) | The Financial Services Commission shall, when it intends to impose a penalty surcharge under Article 46 (1) or (2) of the Act, issue a written notice of payment, stating the type of the relevant violation and the amount of the penalty surcharge imposed, etc. <Amended on Feb. 29, 2008; Apr. 14, 2015> |
| (2) | Any person in receipt of notification under paragraph (1) shall pay the penalty surcharge to a collecting agency prescribed and publicly notified by the Financial Services Commission within 20 days. <Amended on Feb. 29, 2008; Dec. 12, 2023> |
| (3) | Any receiving agency which has received payment of a penalty surcharge under paragraph (2) shall deliver a receipt to the payer and notify the Financial Services Commission of the receipt of the payment without delay. <Amended on Feb. 29, 2008> |
| (4) | Deleted. <Sep. 24, 2021> |
법령 이단보기
| Article 28 (Entrustment of disposition on default) |
| (1) | When the Financial Services Commission entrusts duties concerning the disposition on default to the Commissioner of the National Tax Service under Article 46 (5) of the Act, it shall do so in writing, accompanied by the following documents: <Amended on Feb. 29, 2008; Apr. 14, 2015> |
| 1. | A resolution of the Financial Services Commission; |
| 2. | A resolution and notice of collection of tax revenues; |
| (2) | The Commissioner of the National Tax Service shall, when he or she has completed the duties of disposition on default entrusted under paragraph (1), notify the Financial Services Commission of the date of completion of such duties and other necessary matters in writing within 30 days from the date of completion. <Amended on Feb. 29, 2008> |
법령 이단보기
| Article 28-2 (Interest rates on additional charges for refund) |
"Interest rate on additional money prescribed by Presidential Decree" in Article 46-2 (3) of the Act means the interest rate determined and publicly announced by the Financial Services Commission with regard for interest rates on time deposits by banks (referring to banks authorized to carry out banking business under the Banking Act). [This Article Added on Nov. 22, 2013]
법령 이단보기
| Article 29 (Subjects and methods of statistical surveys) |
The subjects of statistical survey carried out by the Bank of Korea under Article 47 (1) of the Act of electronic financial business and electronic financial transactions shall be as follows: | 1. | The assets, debts and capital of an institution or organization or business entity engaged in conducting or supporting electronic financial services, and sales, profits and losses concerning the electronic financial transactions; |
| 2. | Matters concerning the current status of the data processing system dealing with electronic financial transactions; |
| 3. | Matters concerning the current status of electronic financial transactions, such as the issuance and use of electronic payment means, electronic funds transfer, electronic payment settlement agency services, transactions of electronic bonds; |
| 4. | Other matters necessary to ascertain the current condition of the electronic financial industry and electronic financial transactions or to implement monetary credit policies. |
법령 이단보기
| Article 30 (Entrustment of authority) |
| (1) | The Financial Services Commission shall entrust the following duties to the Governor of the Financial Supervisory Service (hereafter referred to as the "Governor of the Financial Supervisory Service) under the Act on the Establishment of Financial Services Commission pursuant to Article 48 of the Act: <Amended on Feb. 29, 2008; Jul. 9, 2008; May 7, 2012; Nov. 22, 2013; Apr. 14, 2015; Jun. 28, 2016; Sep. 10, 2024> |
| 1. | Establishment of standards for certification methods under Article 21 (2) of the Act; |
| 1-2. | Receipt of plans for the information technology sector under Article 21 (4) of the Act; |
| 1-3. | Receipt of the findings from analysis and assessment of vulnerability under Article 21-3 (1) of the Act; |
| 1-4. | Receipt of reports on the preparation and alteration of the standardized contract and the recommendation for alteration of the standardized contract under Article 25 of the Act; |
| 1-5. | Inspection of the current status of the prepaid recharging money under Article 25-2 (12) of the Act: |
| 2. | Registration and cancellation of registration under Articles 28, 29, 33 and 34 of the Act; |
| 2-2. | Receipt of a report on the details of exceeding the standard under Article 30 (4) of the Act; |
| 2-3. | Review designed to grant permission or authorization under Article 33 (2) of the Act; |
| 2-4. | Confirmation of whether the requirements for final permission and authorization under Articles 33-2 (2) and 45-2 (2) can be satisfied; |
| 2-5. | Confirmation of whether the conditions of preliminary permission and authorization under Articles 33-2 (4) and 45-2 (4) have been fulfilled and whether the requirements for final permission and authorization are satisfied; |
| 2-6. | Verification as to whether the requirements for examination and approval for the concurrent operation of the small-amount post-payment business under Article 35-2 (1) of the Act can be met; |
| 3. | Orders for correction or supplementation of a contract for affiliation, entrustment or outside order under Article 40 of the Act; |
| 4. | Determination of the methods and procedures for submitting a report on operations and business performance under Article 42 (1) of the Act, and receipt of the report; |
| 5. | Establishment of detailed methods for setting standards for management guidance under Article 42 (2) of the Act. |
| (2) | The Governor of the Financial Supervisory Service shall report to the Financial Services Commission on the results of handling the duties entrusted under paragraph (1) as determined and publicly announced by the Financial Services Commission. <Amended on Feb. 29, 2008> |
법령 이단보기
| Article 31 (Handling sensitive information and personally identifiable information) |
| (1) | To conduct the following duties, the Financial Services Commission (including persons entrusted with authority of the Financial Services Commission pursuant to Article 30) may, if unavoidable, handle information that corresponds to any criminal history record prescribed in subparagraph 2 of Article 18 of the Enforcement Decree of the Personal Information Protection Act, and materials that include any resident registration number, passport number or alien registration number referred to in subparagraphs 1, 2 or 4 of Article 19 of the same Decree: <Amended on Nov. 22, 2013; Sep. 10, 2024> |
| 1. | Deleted; <Dec. 20, 2022> |
| 2. | Duties related to permission and registration, etc. prescribed in Articles 28, 29, and 33 of the Act; |
| 2-2. | Duties related to preliminary permission under Article 33-2 of the Act; |
| 3. | Duties related to the cancellation of registration prescribed in Article 34 of the Act; |
| 3-2. | Business affairs concerning approval under Article 35-2 (1) of the Act; |
| 4. | Duties related to supervision and inspection, or submission of materials and measures subsequent thereto, etc., prescribed in Article 39 (1) through (5) or 40 of the Act; |
| 5. | Duties related to measures, hearings, etc. prescribed in Articles 39 (6) and 44 of the Act; |
| 6. | Duties related to a joint inspection prescribed in Article 41 (2) of the Act; |
| 7. | Duties related to the division of accounting and guidance for sound management prescribed in Article 42 of the Act; |
| 8. | Duties related to authorization prescribed in Article 45 of the Act; |
| 9. | Duties related to preliminary authorization under Article 45-2 of the Act. |
| (2) | To conduct the following duties, the Governor of the Financial Supervisory Service or the Korea Consumer Agency (limited to the duties prescribed in subparagraph 1) may, if inevitable, handle materials which include personal information under paragraph (1) with the exception of its subparagraphs: |
| 1. | Duties related to the settlement and mediation of disputes prescribed in Article 27 of the Act; |
| 2. | Duties related to supervision and inspection, or submission of materials and measures subsequent thereto, etc. prescribed in Article 39 (1) through (5) or 40 of the Act; |
| 3. | Duties related to measures prescribed in Article 39 (6) of the Act. |
| 1. | Duties regarding the issuance of the means of access under Article 6 (2) of the Act; |
| 2. | Duties regarding the issuance of electronic debit payment means under Article 28 (2) 2 of the Act; |
| 3. | Duties regarding the issuance of electronic prepayment means under Article 28 (2) 3 of the Act. |
| 4. | Business affairs concerning small-amount post-payment business under Article 35-2 (1) of the Act; |
[This Article Added on Jan. 6, 2012]
법령 이단보기
| Article 32 (Re-examination of regulation) |
The Financial Services Commission shall examine the appropriateness of the following matters every three years, counting from each base date specified in the following (referring to the period that ends on the day before the base date of every third year) and shall take measures, such as making improvements:
| 1. | Matters concerning the scope of chain stores under Article 4-2: Jan. 1, 2024; |
| 2. | Matters concerning the separate management of prepaid recharging money under Article 13-2: Jan. 1, 2024; |
| 3. | Matters concerning the methods for management of prepaid recharging money under Article 13-3: Jan. 1, 2024; |
| 4. | Matters concerning the methods and procedure for payment of prepaid recharging money to users under Article 13-5: Jan. 1, 2024; |
| 5. | Matters concerning the standards and methods for the separate management of prepaid recharging money under Article 13-6: Jan. 1, 2024; |
| 6. | Matters concerning the details of notifying protection measures of prepaid recharging money under Article 13-7: Jan. 1, 2024; |
| 7. | Matters concerning the criteria for the exemption of registration of prepaid electronic payment means issuance and management business pursuant to Article 15 (5): January 1, 2024; |
| 8. | Matters on requirements and procedure for approval of small-amount post-payment business under Article 22-2: Jan. 1, 2024; |
| 9. | Matters on rules of conduct on small-amount post-payment business under Article 22-3: Jan. 1, 2024; |
| 10. | Matters on rules of conduct on prepaid business entity under Article 22-5: Jan. 1, 2024; |
| 11. | Matters concerning the matters to be observed by chain stores under Article 22-5: Jan. 1, 2024. |
[This Article Added on Sep. 10, 2024]
법령 이단보기
| Article 33 (Standards for imposing penalty surcharges) |
Standards for imposing penalty surcharges under Article 51 (1) through (3) of the Act shall be as listed in Appendix 3. [This Article Added on Oct. 17, 2017]
ADDENDUM <Presidential Decree No. 19783, Dec. 29, 2006>
| (1) | (Enforcement Date) This Decree shall enter into force on January 1, 2007. |
ADDENDA <Presidential Decree No. 19958, Mar. 27, 2007>
Article 1 (Enforcement date)
This Decree shall enter into force on March 28, 2007. (Proviso Omitted.)
ADDENDUM <Presidential Decree No. 20112, Jun. 28, 2007>
This Decree shall enter into force on July 1, 2007.
ADDENDA <Presidential Decree No. 20653, Feb. 29, 2008>
Article 1 (Enforcement date)
This Decree shall enter into force on the date of its promulgation; provided, from among Presidential Decree amended under Article 2 of the Addenda, the amendments which have been promulgated before this Decree enters into force but the enforcement dates of which have yet to arrive, shall enter into force on the enforcement date of the relevant Presidential Decree.
ADDENDUM <Presidential Decree No. 20913, Jul. 9, 2008>
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 20947, Jul. 29, 2008>
Article 1 (Enforcement date)
This Decree shall enter into force on February 4, 2009. (Proviso Omitted.)
ADDENDUM <Presidential Decree No. 21404, Mar. 31, 2009>
This Decree shall enter into force on April 1, 2009.
ADDENDA <Presidential Decree No. 21518, May 29, 2009>
Article 1 (Enforcement date)
This Decree shall enter into force on June 1, 2009.
ADDENDA <Presidential Decree No. 21590, Jun. 30, 2009>
Article 1 (Enforcement date)
This Decree shall enter into force on July 1, 2009. (Proviso Omitted.)
Article 2 (Effective period following amendment to the Enforcement Decree of the Farmland Act)
| (1) | The amended provisions of subparagraph 46 of Appendix 2 of the Enforcement Decree of the Farmland Act shall remain in force until Jun. 30, 2011. |
| (2) | The amended provisions of subparagraph 46 of Appendix 2 of the Enforcement Decree of the Farmland Act shall begin to apply to the first application for permission for diversion of farmland (including permission for modification thereof and the first application for permission for diversion of farmland or authorization, permission, etc. deemed granted for modification thereof under other Acts; hereafter the same shall apply in this paragraph) or the first reporting on diversion of farmland (including reporting on modification; hereafter the same shall apply in this paragraph) filed after this Decree enters into force, and the amended provisions shall also apply to the first application for permission for diversion of farmland or the first reporting on diversion of farmland by Jun. 30, 2011. |
Article 3 (Applicability following amendment to the Enforcement Decree of the Tourism Promotion Act)
The amended provisions of subparagraph 1 of Article 32 of the Enforcement Decree of the Tourism Promotion Act shall also apply to a person who has obtained approval of a business plan or has filed an application for approval under Article 15 of the Act before this Decree enters into force. Article 4 (Applicability following amendment to the Enforcement Decree of the Industrial Sites and Development Act)
| (1) | The amended provisions of Article 40 (2) of the Enforcement Decree of the Industrial Sites and Development Act shall begin to apply to the first sales plan formulated after this Decree enters into force. |
| (2) | Matters delegated pursuant to municipal ordinances under the amended provisions of Article 40 (2) of the Enforcement Decree of the Industrial Sites and Development Act shall be governed by the previous provisions until the relevant municipal ordinance is enacted or amended. |
Article 5 (Transitional measures following amendment to the Enforcement Decree of the Employment Insurance Act)
The amended provisions of Article 13 (1) 2 of the Enforcement Decree of the Employment Insurance Act shall begin to apply to the first workplace where working hours are reduced pursuant to Article 13 (1) of the Enforcement Decree of the Employment Insurance Act after this Decree enters into force. Article 6 (Transitional measures following amendment to the Enforcement Decree of the Act on the Management and Promotion of Real Estate Development Business Act)
The application of administrative fines for acts committed before this Decree enters into force shall be governed by the previous provisions.
Article 7 (Transitional measures following amendment to the Enforcement Decree of the New Harbor Construction Promotion Act)
The amended provisions of the latter part of Article 9 (5) of the Enforcement Decree of the New Harbor Construction Promotion Act shall apply to a person who is in the period of an extension of the period of application for approval of an implementation plan for a new harbor construction project under the previous provisions as at the time this Decree enters into force, but shall be deemed to have been extended once under those amended provisions. Article 8 (Transitional measures following amendment to the Enforcement Decree of the Act on the Promotion of Saving and Recycling of Resources)
The application of administrative fines for acts committed before this Decree enters into force shall be governed by the previous provisions.
Article 9 (Transitional measures following amendment to the Enforcement Decree of the Sewerage Act)
| (1) | The first re-training under the amended provisions of Article 38 (2) 2 (a) of the Enforcement Decree of the Sewerage Act shall be conducted in the year in which the fifth anniversary from the completion date of the most recent re-training conducted before this Decree enters into force falls. |
| (2) | The amended provisions of Article 38 (2) 2 (b) of the Enforcement Decree of the Sewerage Act shall begin to apply to the first case where the relevant business is suspended after this Decree enters into force. |
ADDENDA <Presidential Decree No. 21765, Oct. 1, 2009>
Article 1 (Enforcement date)
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 22151, May 4, 2010>
Article 1 (Enforcement date)
This Decree shall enter into force on May 5, 2010.
ADDENDUM <Presidential Decree No. 22467, Nov. 15, 2010>
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 23488, Jan. 6, 2011>
Article 1 (Enforcement date)
This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)
ADDENDUM <Presidential Decree No. 23776, May 7, 2012>
This Decree shall enter into force six months after the date of its promulgation; provided, the amended provisions of Articles 11-2 and 19, and those of Appendices 1 and 1-2 shall enter into force on May 15, 2012.
ADDENDA <Presidential Decree No. 24076, Aug. 31, 2012>
Article 1 (Enforcement date)
This Decree shall enter into force on September 2, 2012.
ADDENDA <Presidential Decree No. 24638, Jun. 28, 2013>
Article 1 (Enforcement date)
This Decree shall enter into force on July 1, 2013. (Proviso Omitted.)
ADDENDA <Presidential Decree No. 24880, Nov. 22, 2013>
Article 1 (Enforcement date)
This Decree shall enter into force on November 23, 2013.
Article 2 (Applicability concerning analysis and assessment of vulnerability of electronic financial infrastructure)
The amended provisions of the main sentence of Article 11-5 (2), with the exception of its subparagraphs, shall apply starting from the business year that begins after this Decree enters into force. Article 3 (Special cases concerning qualifications for chief information security officers)
Notwithstanding the amended provisions of subparagraph 3 (b) of Appendix 1, the head of an association, credit cooperative or local cooperative or a person that is designated by any of their respective heads as at the time this Decree enters into force shall qualified as a chief information security officer even though he or she has not received education under the same amended provisions; provided, he or she shall receive education under the same amended provisions within one year after this Decree enters into force.
Article 4 (Transitional measures concerning method of notice for correction of errors)
Where a request to correct an error is received or the existence of any error is recognized under Article 8 (2) or (3) of the Act as at the time this Decree enters into force, the former provisions shall apply, notwithstanding the amended provisions of Article 7-2.
ADDENDA <Presidential Decree No. 25279, Mar. 24, 2014>
Article 1 (Enforcement date)
This Decree shall enter into force on the date of its promulgation.
ADDENDUM <Presidential Decree No. 25532, Aug. 6, 2014>
This Decree shall enter into force on August 7, 2014.
ADDENDA <Presidential Decree No. 25840, Dec. 9, 2014>
Article 1 (Enforcement date)
This Decree shall enter into force on January 1, 2015.
ADDENDA <Presidential Decree No. 25945, Dec. 30, 2014>
Article 1 (Enforcement date)
This Decree shall enter into force on the date when the registration of merger under Article 4 (6) of the Addenda of Act No. 12663, the Whole Amendment to the Korea Development Bank Act is completed.
ADDENDUM <Presidential Decree No. 26199, Apr. 14, 2015>
This Decree shall enter into force on April 16, 2015; provided, the amended provisions of Articles 9-2 and 30 (1) 1 shall enter into force on October 16, 2015.
ADDENDUM <Presidential Decree No. 26817, Dec. 30, 2015>
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 27205, May 31, 2016>
Article 1 (Enforcement date)
This Decree shall enter into force on September 30, 2016. (Proviso Omitted.)
ADDENDUM <Presidential Decree No. 27292, Jun. 28, 2016>
This Decree shall enter into force on June 30, 2016; provided, the amended provisions of Article 6-2 shall enter into force on July 28, 2016.
ADDENDA <Presidential Decree No. 28218, Jul. 26, 2017>
Article 1 (Enforcement date)
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 28283, Sep. 5, 2017>
Article 1 (Enforcement date)
This Act shall enter into force three months after the date of its promulgation. (Proviso Omitted)
ADDENDA <Presidential Decree No. 28388, Oct. 17, 2017>
Article 1 (Enforcement date)
This Decree shall enter into force on October 19, 2017.
Article 2 (Transitional measures concerning standards for imposing penalty surcharges)
Notwithstanding the amended provisions of Article 26, and Appendices 1-3 and 2, the former Article 26 and Appendix 2 shall govern when applying standards for imposing penalty surcharges to the violations committed before this Decree enters into force.
ADDENDUM <Presidential Decree No. 29421, Dec. 24, 2018>
This Decree shall enter into force on January 1, 2019.
ADDENDA <Presidential Decree No. 29892, Jun. 25, 2019>
Article 1 (Enforcement date)
This Decree shall enter into force on September 16, 2019. (Proviso Omitted)
ADDENDA <Presidential Decree No. 30654, Apr. 28, 2020>
Article 1 (Enforcement date)
This Decree shall enter into force on the date of its promulgation.
Article 2 (Period of validity)
The amended provisions of Article 13 (1) 1 shall remain effective until September 30, 2020. Article 3 (Transitional measures concerning use of electronic prepayment means)
The holder of an electronic prepayment means issued pursuant to the amended provisions of Article 13 (1) 1 may use the amount recorded in the relevant electronic prepayment means and the period of use even after the expiration of the effective period prescribed in Article 2 of the Addenda.
ADDENDA <Presidential Decree No. 30893, Aug. 4, 2020>
Article 1 (Enforcement date)
| (1) | This Decree shall enter into force on August 5, 2020. (Proviso Omitted.) |
ADDENDA <Presidential Decree No. 30967, Aug. 25, 2020>
Article 1 (Enforcement date)
| (1) | This Decree shall enter into force on August 27, 2020. (Proviso Omitted.) |
ADDENDA <Presidential Decree No. 31165, Nov. 17, 2020>
This Decree shall enter into force on November 20, 2020.
ADDENDUM <Presidential Decree No. 31380, Jan. 5, 2021>
This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)
ADDENDUM <Presidential Decree No. 31516, Mar. 2, 2021>
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 31553, Mar. 23, 2021>
Article 1 (Enforcement date)
This Decree shall enter into force on March 25, 2021. (Proviso Omitted)
ADDENDA <Presidential Decree No. 32014, Sep. 24, 2021>
Article 1 (Enforcement date)
This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)
ADDENDA <Presidential Decree No. 32274, Dec. 28, 2021>
Article 1 (Enforcement date)
This Decree shall enter into force on December 30, 2021
ADDENDA <Presidential Decree No. 32449, Feb. 17, 2022>
Article 1 (Enforcement date)
This Decree shall enter into force on February 18, 2022.
ADDENDUM <Presidential Decree No. 33112, Dec. 20, 2022>
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 33474, May 16, 2023>
Article 1 (Enforcement date)
This Decree shall enter into force on the date of its promulgation.
ADDENDUM <Presidential Decree No. 33913, Dec. 12, 2023>
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 34533, May 28, 2024>
Article 1 (Enforcement date)
This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)
ADDENDUM <Presidential Decree No. 34887, Sep. 10, 2024>
Article 1 (Enforcement date)
This Decree shall enter into force on September 15, 2024.
Article 2 (Transitional measures concerning registration of business affairs of issuance and management of electronic prepayment means)
Any person who issued an electronic payment means as at the time this Decree enters into force and is newly subject to registration for issuance and management of prepaid electronic payment methods pursuant to the revised provisions of Article 3 shall, within six months from the date of enforcement of this Act, register pursuant to Article 28 (2) of the Act by meeting the registration requirements pursuant to Article 31 of the ACt. Article 3 (Transitional measures concerning scope of merchant stores)
A person who vicariously conducts transactions by electronic debit payment means, electronic prepayment means, or electronic currency for a person who provides goods or services to users under a contract with a financial company or an electronic financial business entity as at the time this Decree enters into force shall be deemed a chain store under the amended provisions of Article 4-2 until one year after this Decree enters into force. Article 4 (Transitional measures concerning deadline for requesting supplementation of application documents on permission for, and registration of electronic financial business)
| (1) | Where procedures for granting permission are underway pursuant to Article 28 of the Act as at the time this Decree enters into force, notwithstanding the amended provisions of Article 20 (5), the previous provisions shall apply to the deadline for requesting supplementation of application documents for granting permission. |
| (2) | Where procedures for registration are underway pursuant to Article 28 or 29 of the Act as at the time this Decree enters into force, notwithstanding the amended provisions of Article 20 (4) and (5), the previous provisions shall apply to the deadline for processing registration or for requesting supplementation of application documents for registration application. |
Article 5 (Transitional measures concerning grounds for revocation of permission and registration of electronic financial business following expansion of grounds for disqualification for permission and registration of electronic financial business)
Notwithstanding the amended provisions of Article 19 (2), the previous provisions shall apply where a financial company or an electronic financial business entity as at the time this Decree enters into force determines whether a financial company or electronic financial business entity falls under the grounds for revocation of Article 43 (1) 2 of the Act (including cases applied mutatis mutandis in Article 29 (2) of the Act) on the grounds that occurred before this Decree enters into force.
