No. 33721
Promulgation Date 2023-09-12
Korea Fair Trade Commission
ALL
Article 1 (Purpose)
Article 1-2 (Scope of Goods or Services subject to Prepaid Installment Contracts)
Article 2 (Scope of Consumers)
Article 3 (Scope of Persons Specially Related)
Article 4 (Transactions Excluded from Application of the Act)
Article 5 (Method of Calculating Actual Annual Rate of Installment Commission)
Article 6 (Limitation of Consumer’s Withdrawal of Offer)
Article 7 (Rate of Damages for Delay)
Article 8 (Expenses Claimable where Goods, etc. have been Partially Consumed)
Article 9 (Calculation of Damages for Delay)
Article 10 (Acceleration of Consumer’s Obligation)
Article 11 (Restriction on Consumer's Defense)
Article 12 (Procedures for Registration, etc. of Prepaid Installment Business Operators)
Article 13 (Procedures for Disclosure of Information on Prepaid Installment Business Operators)
Article 13-2 (Procedures and Methods for Submission and Disclosure of Accounting Audit Reports)
Article 14 (Public Announcement and Reporting of Succession of Status of Prepaid Installment Business Operator)
Article 14-2 (Methods for Reporting Transfer of Prepaid Installment Contracts)
Article 15 (Provision of Information Prior to Conclusion of Contract and Items, etc. to be Described in Contracts)
Article 16 (Contract for Indemnity Insurance against Consumer Damage)
Article 17 (Contributions)
Article 18 (Authorization for Establishment of Mutual Aid Association)
Article 19 (Operation and Supervision of Mutual Aid Associations)
Article 20 (Matters to be Stipulated in Articles of Association of Mutual Aid Association)
Article 20-2 (Notification Methods for Period of Temporary Closure of Business)
Article 21 (Perusal of Transaction Records, etc. of Prepaid Installment Business Operators)
Article 22 (Cases Where Use of Information on Consumers is Allowed)
Article 23 (Organization of Investigation Team)
Article 24 (Disclosure of Information on Illegal Acts)
Article 25 (Obligations to Report)
Article 26 (Publication of Measures Taken for Rectification)
Article 27 (Standards for Suspension of Business)
Article 28 (Organization for Mediation of Disputes over Consumer Loss)
Article 29 (Procedures for Not Taking Corrective Measures upon Accepting and Implementing Dispute Mediation Proposal)
Article 30 (Calculation of Sales Related to Violation)
Article 31 (Criteria for Imposing Penalty Surcharges)
Article 32 (Registration of Trade Associations)
Article 32-2 (Management of Personally Identifiable Information)
Article 32-3 (Re-Examination of Regulation)
Article 33 (Criteria for Imposition of Administrative Fines)
ADDENDA <Presidential Decree No. 22388, Sep. 17, 2010>
ADDENDA <Presidential Decree No. 22637, Jan. 24, 2011>
ADDENDA <Presidential Decree No. 24436, Mar. 23, 2013>
ADDENDUM <Presidential Decree No. 26036, Jan. 6, 2015>
ADDENDA <Presidential Decree No. 26932, Jan. 22, 2016>
ADDENDA <Presidential Decree No. 27971, Mar. 29, 2017>
ADDENDUM <Presidential Decree No. 27987, Apr. 11, 2017>
ADDENDA <Presidential Decree No. 29269, Oct. 30, 2018>
ADDENDA <Presidential Decree No. 32386, Feb. 3, 2022>
ADDENDUM <Presidential Decree No. 32528, Mar. 8, 2022>
ADDENDA <Presidential Decree No. 33145, Dec. 27, 2022>
ADDENDUM <Presidential Decree No. 33721, Sep. 12, 2023>