Electronic Financial Transaction Terms

Article 1 (Purpose)

This Agreement aims to stipulate the basic matters concerning electronic financial transactions between ILK KOREA Co., Ltd. (hereinafter referred to as the “Company”) and users, regarding the use of the Electronic Payment Gateway Services provided by the Company.

Article 2 (Definitions)

① The terms used in this Agreement are defined as follows:

1. “Electronic financial transaction” refers to a transaction in which the Company provides Electronic Payment Gateway Services (“Electronic Financial Transaction Services”) through electronic devices, and users utilize such services automatically without direct face-to-face interaction or communication with the Company’s staff.
2. “Electronic payment means” refers to methods of payment made through electronic means, including electronic fund transfers, debit or prepaid electronic payments, electronic money, credit cards, electronic bonds, and other electronic payment methods.
3. “Electronic Payment Gateway Service” refers to services that transmit or receive payment information electronically or mediate the settlement of payment for goods or services.
4. “User” refers to any person who agrees to this Agreement and uses the Electronic Financial Transaction Services provided by the Company.
5. “Access media” refers to the means or information used to issue transaction orders or verify the authenticity and accuracy of users and transaction details, such as electronic cards, electronic information (including credit card numbers), certificates under the Electronic Signature Act, user IDs registered with the Company, biometric information, and passwords as stipulated in Article 2(10) of the Electronic Financial Transactions Act.
6. “Transaction order” refers to instructions given by the user to the Company under an electronic financial transaction agreement to process an electronic financial transaction.
7. “Error” refers to a case where, without intent or negligence of the user, the electronic financial transaction is not executed according to the contract or transaction order.
8. “Information and communication network” refers to systems that use telecommunication facilities or computers to collect, process, retrieve, transmit, or receive information.

② Terms not defined in this Agreement follow the definitions stipulated in the Electronic Financial Transactions Act and other related laws.

Article 3 (Disclosure and Amendment of Terms)

① The Company shall post this Agreement and ensure users can review its contents before using the Electronic Financial Transaction Services.

② The Company shall provide a copy of this Agreement electronically upon the user’s request.

③ If the Company amends the Agreement, the revised terms shall be announced on the Company’s homepage and service login screen at least one month prior to the effective date.

Article 4 (Types of Electronic Payment Gateway Services)

The Electronic Payment Gateway Services provided by the Company are classified as follows according to payment methods:

1. Credit Card Payment Service: A service that transmits and receives credit card payment information through the Company’s electronic payment system and mediates settlement for transactions.
2. Account Transfer Service: A real-time fund transfer service that enables users to withdraw funds from registered bank accounts and transfer them to designated accounts.
3. Virtual Account Service: A service that provides a unique, one-time-use account for each user to make payments in cash through the Company’s system.
4. Others: Additional services such as ARS payment and gift card payment services provided by the Company.

Article 5 (Service Hours)

① The Company provides 24/7 Electronic Financial Transaction Services throughout the year, unless otherwise restricted by financial institutions or issuers.

② If the service must be temporarily suspended for maintenance, inspection, or other technical reasons, the Company shall post a prior notice at least three days in advance, except in urgent or unavoidable cases.

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

① The Company may select access media to verify the user’s identity, authority, and transaction details.

② Users shall not lend, delegate, transfer, or provide access media as collateral to third parties.

③ Users must not disclose or neglect access media and should exercise due care to prevent theft, forgery, or alteration.

④ Once the Company is notified of loss or theft, it shall be liable for damages caused thereafter.

Article 7 (Verification of Transaction Details)

① The Company shall allow users to verify transaction details electronically and provide written copies within two weeks upon request.

② Records of transactions such as account details, transaction type and amount, counterpart information, date, and device data shall be kept for five years; small-value transactions (₩10,000 or less) and approval records shall be kept for one year.

③ Requests for transaction records may be made at: Address: 3F, Daemyung Building, 7 Eonju-ro 172-gil, Gangnam-gu, Seoul, Republic of Korea, ILK KOREA Co., Ltd. Email: ilkpg@ilkr.com Tel: +82-2-790-3283

Article 8 (Correction of Errors)

① If a user discovers an error in a transaction, they may request correction from the Company.

② The Company shall investigate and notify the user of the results within two weeks after receiving such a request or discovering the error.

Article 9 (Company’s Liability)

① The Company is liable for damages arising from the following:

1. Forgery or alteration of access media.
2. Errors during transmission or processing of electronic instructions.
3. Unauthorized access to the system resulting in fraudulent use of access media.

② However, users shall bear responsibility if the following apply:

1. If the user is a corporation (excluding small enterprises) and the Company exercised due diligence with adequate security procedures.
2. If the user lent, delegated, transferred, or provided access media as collateral.
3. If the user neglected to protect their access media despite knowing it could be misused.
4. If the user refused to comply with additional security measures required by the Company without just cause.
5. If the user disclosed or lent the additional security access media to third parties, leading to unauthorized access.

Article 10 (Effect of Electronic Payment Transaction Agreement)

① The Company shall transmit payment instructions for electronic payment transactions to ensure completion of payment.

② If payment is not completed as instructed, the Company shall refund the received amount to the user.

Article 11 (Withdrawal of Transaction Orders)

① Users may withdraw a transaction order before payment takes effect.

② The payment becomes effective when:

1. For fund transfers: when the amount is credited to the recipient’s account ledger.
2. For other electronic payment methods: when the amount is recorded in the recipient’s bank system.

③ Once payment is effective, refunds follow relevant consumer protection laws.

Article 12 (Creation and Retention of Transaction Records)

① The Company shall create and maintain transaction records to verify or correct errors.

② The retention method follows Article 8(2).

Article 13 (Prohibition of Information Disclosure)

The Company shall not disclose or use user information (personal, account, access media, transaction details, or history) to third parties without consent, except as required by law.

Article 14 (Dispute Resolution)

① Users may file complaints or compensation claims to the following representative:

Contact Person: Customer Support Representative
Tel: +82-2-790-3283
Email: ilkpg@ilkr.com

② The Company shall respond within 15 days of receiving a dispute request.

③ Users may also apply for dispute mediation through the Financial Supervisory Service’s Financial Dispute Mediation Committee or the Korea Consumer Agency.

Article 15 (Obligation to Maintain Stability)

The Company shall comply with the standards set by the Financial Services Commission to ensure security and reliability of electronic financial transactions, including IT infrastructure and procedures.

① Matters not specifically agreed upon shall follow relevant laws such as the Electronic Financial Transactions Act, the Consumer Protection Act in E-Commerce, the Installment Transaction Act, and the Specialized Credit Finance Business Act.
② Jurisdiction over disputes shall be determined in accordance with the Civil Procedure Act.

Supplementary Provision

The previous terms are replaced by this Agreement as of November 30, 2022.