Statutes of the Republic of Korea

No. 14132
Promulgation Date 2016-03-29
Financial Services Commission

ALL

CHAPTER I GENERAL PROVISIONS

Article 1 (Purpose)

Article 2 (Definitions)

Article 3 (Scope of Application)

Article 4 (Reciprocity)

CHAPTER II RIGHTS AND DUTIES OF PARTIES TO ELECTRONIC FINANCIAL TRANSACTIONS

Section 1 Common Provisions

Article 5 (Use of Electronic Documents)

Article 6 (Selection, Use and Management of Means of Access)

Article 6-2 (Suspension, etc. of Using Telephone Numbers Used in Illegal Advertisements)

Article 7 (Confirmation of Transaction Details)

Article 8 (Correction, etc. of Errors)

Article 9 (Liability of Financial Companies or Electronic Financial Business Entities)

Article 10 (Liability for Loss or Theft of Means of Access)

Article 11 (Status of Subsidiary Electronic Financial Business Entities)

Section 2 Electronic Payment Transactions, etc.

Article 12 (Validity of Electronic Payment Transaction Contracts)

Article 13 (Time when Payment Takes Effect)

Article 14 (Withdrawal of Transaction Requests)

Article 15 (Consent to Withdraw Deposits by Transfer)

Article 16 (Issuance, Use and Exchange of Electronic Currencies)

Article 17 (Validity of Payment by Electronic Currencies)

Article 18 (Transferability of Electronic Currencies, etc.)

Article 19 (Refund of Electronic Prepayment Means)

Article 20 (Requisite for Setting Up Transfer of Electronic Bonds)

CHAPTER III ENSURING SAFETY OF ELECTRONIC FINANCIAL TRANSACTIONS AND PROTECTION OF USERS

Article 21 (Duty to Ensure Safety)

Article 21-2 (Appointment of Chief Information Security Officers)

Article 21-3 (Analyzing and Assessing Vulnerability of Electronic Financial Infrastructure)

Article 21-4 (Prohibition against Electronic Infringement, etc.)

Article 21-5 (Notification, etc. of Infringement Incidents)

Article 21-6 (Response to Infringement Incidents)

Article 22 (Creation, Preservation and Destruction of Electronic Financial Transaction Records)

Article 23 (Issuance and Limit of Use of Electronic Payment Means, etc.)

Article 24 (Clarification of Terms and Conditions and Notification of Alterations thereof)

Article 25 (Preparation and Alteration of Terms and Conditions)

Article 26 (Provision, etc. of Electronic Financial Transaction Information)

Article 27 (Settlement and Mediation of Disputes)

CHAPTER IV PERMISSION, REGISTRATION AND FUNCTIONS OF ELECTRONIC FINANCIAL BUSINESS

Article 28 (Permission and Registration of Electronic Financial Business)

Article 29 (Registration of Electronic Bond Management Agencies)

Article 30 (Capital)

Article 31 (Requirements for Permission and Registration)

Article 32 (Disqualification for Permission and Registration)

Article 33 (Applications, etc. for Permission, Registration and Authorization)

Article 33-2 (Preliminary Permission)

Article 34 (Cancellation of Registration Subject to Application)

Article 35 (Restriction on Concurrent Businesses)

Article 36 (Prohibition against Use of Similar Names)

Article 37 (Matters to be Observed by Chain Stores)

Article 38 (Recruitment, etc. of Chain Stores)

CHAPTER V SUPERVISION OF ELECTRONIC FINANCIAL BUSINESS

Article 39 (Supervision and Inspection)

Article 40 (Supervision and Inspection of Outside Orders, etc.)

Article 41 (Requests, etc. for Submission of Data by Bank of Korea)

Article 42 (Keeping Separate Accounts and Guidance for Sound Management)

Article 43 (Revocation, etc. of Permission or Registration)

Article 44 (Hearings)

Article 45 (Authorization for Merger, Dissolution, Business Closure, etc.)

Article 45-2 (Preliminary Authorization)

Article 46 (Penalty Surcharges)

Article 46-2 (Refund of Overpayments or Erroneous Payments)

CHAPTER VI SUPPLEMENTARY PROVISIONS

Article 47 (Statistical Surveys of Electronic Financial Transactions)

Article 48 (Entrustment of Authority)

CHAPTER VII PENALTY PROVISIONS

Article 49 (Penalty Provisions)

Article 50 (Joint Penalty Provisions)

Article 51 (Administrative Fines)

ADDENDA

ADDENDA <Act No. 8387, Apr. 27, 2007>

ADDENDA <Act No. 8863, Feb. 29, 2008>

ADDENDUM <Act No. 9325, Dec. 31, 2008>

ADDENDA <Act No. 10303, May 17, 2010>

ADDENDUM <Act No. 11087, Nov. 14, 2011>

ADDENDA <Act No. 11407, Mar. 21, 2012>

ADDENDA <Act No. 11461, Jun. 1, 2012>

ADDENDA <Act No. 11814, May 22, 2013>

ADDENDA <Act No. 12837, Oct. 15, 2014>

ADDENDA <Act No. 13069, Jan. 20, 2015>

ADDENDUM <Act No. 13929, Jan. 27, 2016>

ADDENDUM <Act No. 14132, Mar. 29, 2016>