Chapter 1: GENERAL PROVISIONS
ARTICLE 1 - PURPOSE
The purpose of this Terms Of Service agreement (“TOS” hereinafter) is to define and specify the rights, obligations, responsibilities, and other matters between APRO Korea Co. (“Company” hereinafter) and its members required to use APROBIT, a digital asset (the terms “Digital Asset”, encompassing the concepts of “virtual money,” “virtual currency,” “virtual token,” “cryptocurrency,” and “virtual assets”) trading service, and related services ("Service" hereinafter; when a specific service is referenced, its service name will be used) provided by the Company.
ARTICLE 2 – SPECIFICATION, EFFECT AND CHANGE OF THE TERMS OF SERVICE (TOS)
1. The TOS are posted on the web page (https://www.aprobit.co.kr) or disclosed to users in other ways and become effective when the customer agrees to the TOS and signs up as a member of the service.
2. The Company may amend the TOS provided that such amendment does not violate related laws such as the “Act on the Regulation of Terms and Conditions” and the “Act on Promotion of Information and Communication Network Utilization and Information Protection.” If the TOS is amended, the Company shall inform the member at least 7 days before the effective date in the manner described in paragraph 1. However, if any amendment has a material or disadvantageous impact on members, the members shall be notified at least 30 days before the effective date.
3. If a member does not explicitly express his/her intent to reject the amendment despite the Company notifying the member as per paragraph 1, while clearly stating that the amendment will be deemed as approved unless the member expresses his/her intent to refuse within 7 days from the effective date of the amendment, the amendment will be considered as approved. If a member does not agree to the amendment, the member may terminate the service of use agreement pursuant to Article 8 (1). In addition, the Company may terminate the service of use agreement with the member.
ARTICLE 3 – RULES OTHER THAN THE TERMS OF SERVICE (TOS)
The TOS and other matters not specified in the TOS will be interpreted in accordance with the provisions of the relevant laws and regulations in Korea and general business practices, or the individual TOS, operating policies and rules of the service set by the company. In addition, in the event of a conflict between the TOS and the detailed instructions, the detailed instructions shall be followed.
However, relevant laws and regulations apply first to the transactions between members that are facilitated through the service provided by the Company, and members cannot claim exemption against the counterparties based on the provisions of the service terms.
ARTICLE 4 – DEFINITION OF TERMS
The terms used in the TOS are defined as follows:
▷ Member: A person who agrees to the TOS and signs up for membership to enter into a service use agreement with the Company
▷ ID (identification): A combination of letters and numbers set by the member and approved by the Company for member identification and service of use
▷ Homepage: A website such as an online exchange provided by the Company to allow members to use the company's services
▷ Password: A combination of letters and numbers set by the member and approved by the Company to verify the identity of the member and to protect member information
▷ Seller: A member who has registered or applied for digital asset according to the form provided online by the company with the intent to sell the digital asset
▷ Buyer: A member who has registered or applied for digital asset according to the form provided online by the company with the intent to buy digital asset
▷ Digital asset: Information that exists only electronically in the network, such as Bitcoin (BTC), and is used as a means of trading in services
▷ E-wallet: A digital asset wallet used by members to store digital assets associated with APROBIT; members can send digital asset wallet addresses and digital assets outside the exchange through the APROBIT wallet
▷ Open Market: An application trading site run by open market operators
▷ Open Market Operators: E-commerce companies that provide installation and payment functions
▷ Payment Company: A company that provides electronic payment methods, such as credit card and mobile phone payment, that can be used in open markets
Chapter 2: APPLICATION FOR SERVICE USE AND ACCEPTANCE (SIGN-UP & WITHDRAWAL)
ARTICLE 5 – ESTABLISHMENT OF USE AGREEMENT
1. Users can apply for membership by filling in the registration form provided by the Company with their personal information and then confirming their agreement with the TOS.
2. Membership registration takes effect when the Company's consent reaches the member (e.g., account creation is indicated in the sign-up process).
3. Service use agreements are concluded for each member ID. Once the service use agreement is made, the applicant for use is registered as a member.
4. Any member who fraudulently registers under a false name or by stealing another person's information will not receive any of the legal protection afforded to members and is responsible for all civil and criminal liability arising therefrom.
5. If any information that a member has entered is not true or is later revealed to be different from the facts, the Company may temporarily or permanently suspend the member’s use of the service or terminate the service use agreement. All responsibility for damages incurred to the Company or a third party falls on the relevant member.
6. The service is not available to minors or non-Koreans under the age of 19. If a minor or non-Korean under the age of 19 fraudulently registers or attempts to register, the consent may be withheld or rejected in accordance with Article 7 (2) and (3), and the service use agreement may be terminated.
ARTICLE 6 – APPLICATION FOR USE
1. Applications for use can be made online by filling out the required information in the company's prescribed application form.
2. Members must create and use their accounts by entering their correct information and should not violate the relevant laws by stealing another person's information or the like. To confirm that the information provided by members is consistent with the facts, the Company may request real-name verification and personal authentication by a specialized institution, to the extent permitted by law.
3. All member information provided on the application form is regarded as actual data. Users who do not provide their real name or actual information are not legally protected and may be restricted from using the service.
ARTICLE 7 – APPROVAL OF APPLICATION FOR USE
1. When a member applies to use the service by correctly filling out the company's prescribed application form, the Company may approve the membership and use of the service. However, such approval may be withheld or rejected in the cases specified in paragraphs 2 and 3 below.
2. The Company may withhold approval of an application for use in any of the following circumstances:
▷ the Company lacks the capacity to provide the service to the user
▷ there is a problem with the technical part for service provision
▷ it is deemed necessary to withhold approval due to other circumstances of the Company
3. In any of the following circumstances, the Company may refuse an application for service use, or may stop the service immediately or at a specific time or terminate the service use agreement of an existing member, and in some cases, restrict the member from re-subscription:
▷ the name given by the user is not his/her real name
▷ another person’s name or other personal information such as email address has been used for application
▷ any information required for application is missing or has been entered incorrectly
▷ an application is made for the purpose of impeding social order or morals
▷ a member's account has been deleted by the Company
▷ a service use constitutes or may lead to a violation of laws outside Korea that are in effect at the member's residence
▷ it is confirmed that a member has violated laws of the Republic of Korea in the course of using the service
▷ the service has been used as a means of telecommunications-based financial fraud, or it is confirmed that the amount of damage caused by telecommunications-based financial fraud has been deposited or withdrawn
▷ a member applies for withdrawal from membership even though an account has been created in accordance with the member's application, or applies for the same account even though the withdrawal process has been completed
▷ a member's personal information is leaked or thought to have been leaked
▷ the Company suffers damages due to a member’s illegal activities in the course of using the service
▷ the Company cannot create a new account due to the establishment, change, or abolition of policies of the Korean government or affiliated organizations
▷ it is believed that the Company's act of accepting the member's account creation may be recognized as a violation of the laws of the Republic of Korea
▷ other relevant laws or standards set by the Company, including detailed instructions, are violated
ARTICLE 8 – SUSPENSION AND TERMINATION OF USE AGREEMENT
1. Any member who does not want to use the service or does not agree to the TOS can apply to cancel the service use agreement at any time using the menu provided in the service or through the customer center, and the Company must terminate the use agreement as prescribed by law.
2. The Company, however, shall not be liable for any damages incurred by the member in the process of canceling the service use agreement in accordance with the member's application, provided such damage does not involve the Company's intention or negligence.
3. The Company may stop the service use or terminate the use agreement immediately or at a specific time, and in some cases, may restrict re-subscription, in any of the following circumstances:
▷ Member steals another member’s service ID and password
▷ Member lends, transfers, or provides as collateral his or her account information to others
▷ Member intentionally interferes with the stable operation of the service
▷ Member signs up under a name other than his or her own
▷ Member intentionally distributes content that is detrimental to public order and morals
▷ Member plans or executes service use for the purpose of impeding national or social interests
▷ Member impairs or damages the reputation of others
▷ Member transmits a large amount of information or advertising information for the purpose of interfering with the stable operation of the service
▷ Member distributes computer virus programs that cause malfunction of information and communication facilities or the destruction of information
▷ Member copies, reproduces, modifies, distributes, sells, transfers, rents, or provides as collateral the service or parts of the software contained therein, or permits others to use them without the consent of the Company
▷ Member reproduces or distributes information obtained using the Company's service information, or uses it for business purposes without the prior consent of the Company
▷ Member registers multiple accounts using different IDs
▷ Member infringes the intellectual property rights of the Company, other members or third parties
▷ Member receives a request for correction from an external organization such as the Korea Communications Commission or an authentic interpretation from the Election Commission regarding illegal election campaigns
▷ Member’s account becomes dormant, and member does not express his/her intent to use the service within a certain period of time after receiving a notice of long-term dormancy
▷ Member collects, stores, or discloses the personal information of other users without their consent
▷ Member manipulates market prices or disturbs the market order to obtain unfair profit
▷ Member is judged to be involved with crime
▷ Member violates other relevant laws, company policies, and other terms and conditions set by the company, including the TOS, or is judged by the operator or administrator to be inappropriate for the service use.
4. When limiting the use of any member, the Company shall notify the member of the reason, date and time of such limitation in writing, by telephone, or by e-mail. However, if the Company needs to urgently suspend a member’s service use, it may restrict the use of the service without notice.
5. If the Company stops the service use of a member, the Company can investigate the account, and the member must actively cooperate with the company's investigation.
6. Any member or his/her agent who has been notified of the suspension of service use may file an objection if necessary.
7. The Company will cancel the suspension of service use only when it is confirmed that the reason for the suspension has been cleared during the suspension period.
8. If the same act is repeated more than once or if the reason is not cleared within 30 days after the Company has stopped or restricted the use of the service, the Company may terminate the service use agreement.
9. If the service use agreement is terminated by the Company, membership registration will be cancelled. In this case, the Company shall delete the member information except when retention of the member information is required by applicable laws and the personal information policy. In this case, the member cannot request the provision of member information held by the Company.
10. Even if the service use agreement is terminated, the member can apply for a service use agreement again with the Company. However, when signing a subsequent service use agreement, the member may be subject to time limits and restrictions as per the TOS.
11. If a member has no record of logging in or accessing the service for the period prescribed by the law, the Company may destroy the member's information or keep it separately after notification by effective means such as the e-mail or SMS registered by the member. If there is insufficient information necessary for using the service, the service use agreement may be terminated.
12. In addition, if a member does not log in to the service for a certain period of time, the Company may request additional information necessary for the service use of the member; in particular, if the member has not logged in for more than 12 months, the Company may initiate the process of account suspension in accordance with Article 8 (1).
ARTICLE 9 – PROVISION OF INFORMATION
The Company may provide members with information deemed as related to the use of the service, such as notices and management messages, by e-mail.
Chapter 3: MEMBER OBLIGATIONS
ARTICLE 10 – Member's obligations for account management and service use
1. Each member's account must be used only by the account holder, and in no case shall other people be allowed to use the member's account. In addition, members must manage their passwords to ensure that other people cannot use their member accounts without permission.
2. Any member who discovers an unauthorized use of his/her account should immediately notify the company thereof by way of the customer center, and the Company may immediately take measures such as suspension of account use. The Company shall not be liable for any disadvantages arising from a member’s failure to follow the Company's instructions, regardless of whether or not the member has notified the Company of unauthorized use.
3. If the account and password entered by a member to log in is identical to that registered with the company, the Company considers the user as its member, without any additional verification process.
4. If a member's account information is stolen by a third party and used for illegal activities, the member may be liable for damages to third parties, including victims of electronic financial fraud.
5. If a member does not confirm important information provided by the Company, in accordance with the service use agreement, to the contact addresses such as the e-mail that the member has entered as information for the service, the member is responsible for any disadvantages arising therefrom.
6. Members are not allowed to lend, transfer, give or provide as collateral to others the right to use the service, claims/obligations with the Company due to the use of the service, and other contract status, and the Company is not responsible for any disadvantages that may arise from the member’s failure to observe this requirement.
7. Members who live in a place where the use of the company's services are or may be in violation of local laws should acknowledge that there may be disadvantages caused by the use of services. In particular, when the Company has confirmed that the use of the service in the place where the member resides may constitute a violation of the local laws (e.g. when an investigation by an investigative agency in or outside Korea is initiated for the member's use of the service), the Company can immediately begin the account suspension process.
8. If any account and e-wallet need to be frozen for investigation by public powers, such as investigation agencies, the judiciary, and administrative agencies, the Company can freeze the account and e-wallet without the member's consent, and at the same time, begin the account suspension process.
9. Members must provide the Company with accurate details regarding the deposit and withdrawal of digital asset, and faithfully follow the company's instructions. If a member provides incorrect information when withdrawing digital asset and the Company believes this incorrect information and performs a withdrawal, or if a member does not follow the prescribed guidelines when depositing digital asset, the Company shall not be liable for any damage caused therefrom.
10. The Company can immediately begin the process of suspending the account if a member tries to access the service, generate or increase impressions and clicks, apply for the service use, or cause a load on the company's server by automated means such as Agent, Script, Spider, Spyware, and Toolbar or other illegal means (hereafter collectively referred to as “dishonest behavior”), and engages in any of the acts specified in the following subparagraphs or similar behavior without prior consent of the Company.
- Transmitting, posting, e-mailing, or otherwise distributing information that infringes the intellectual property rights of the company or a third party, including copyrights
- Attempting to create a negative public opinion regarding the Company by spreading unfounded or falsified information
- Using the service for commercial purposes (unacceptable commercial activities, etc.) without prior consent of the Company
- Posting other dishonest behaviors, etc.
Chapter 4: GENERAL PROVISIONS FOR SERVICE USE
ARTICLE 11 – TYPE OF SERVICES
1. The Company shall provide services to allow members to conduct digital asset transactions (services related to buying and selling, e-wallet, price information retrieval, etc.), and the types of services provided by the Company may be changed from time to time depending on company circumstances.
2. Depending on the nature of the service provided to the member, the Company may request the consent of an individual use agreement if it is required for technical reasons or by applicable laws. In this case, each member can use the individual service according to the service use agreement that they have agreed to.
ARTICLE 12 – NOTICE AND CHANGE OF SERVICES
1. The Company must announce the characteristics, procedures, and methods of each service on the service screen, and members should understand the details of each service announced by the Company before using the service.
2. The service may be changed in terms of its contents or terminated for reasons such as the termination or change of contracts with partners to provide the company's service, or the start of a new service. When the service is changed in its contents or terminated, the Company can notify the members via their registered e-mail addresses or by posting a notice on the company's announcement page, and will not responsible for any damages incurred by members due to their failure to check the contents of such notice.
ARTICLE 13 – MAINTENANCE AND SUSPENSION OF SERVICES
1. The service is in principle available 24/7 unless there is a specific problem with technology or company business. Notwithstanding the foregoing, the service may be temporarily suspended due to periodic or temporary inspection for the maintenance or repair of equipment, or for other significant reasons. In this case, the schedule of such service suspension may be announced within the service or on a social media account. If the service is stopped for unforeseen reasons, the Company should try to recover the service immediately upon understanding the situation.
2. The Company can divide the service into certain modules and set the available time for each module separately. In this case, the details should be announced in advance.
3. In any of the following circumstances, the Company may suspend the service:
▷ it is inevitably necessary to suspend the service due to construction, such as the repair of service equipment
▷ the key telecommunications service provider, prescribed in the Telecommunications Business Act, stops providing telecommunications service
▷ for a service provided by a third party, such as an affiliate, rather than directly by the Company, when the third party stops providing the service
▷ where there are other force majeure reasons
4. The Company may limit or suspend all or part of the service when normal service use is impossible due to a national emergency, power outage, service facility failure, or a sudden increase in service use.
5. In the event of a system error including errors of individual programs during the use of the service, the Company may restore or display the actual information after deleting the erroneous information caused by the error, and in some cases, cancel all transactions made immediately after the error occurs and restore transaction information produced immediately before the error occurs. At this time, if incorrect information displayed at the time of system error recognition is changed, this means that the error has been corrected or deleted to display actual information. As such, members can exercise their rights or bear obligations related to the service based on actual information.
6. Communication and financial expenses incurred by the member in the course of using the service are the cost of communication and financial services used by members, and are not related to the Company.
7. Members who use the paid service provided by the Company must pay for the use of the service using the method determined by the Company. For services requiring regular payment, payment is made monthly unless members stop using the service and request the cancellation of the regular payment.
Chapter 5: USE OF DIGITAL ASSET-RELATED SERVICES
ARTICLE 14 – DIGITAL ASSET TRADING
1. The Company provides services that can be used to trade digital asset held in an electronic wallet, transmit it to a third party, or receive it from a third party at a transaction price agreed upon between members (including market price, designated price, or other methods).
2. Members enters a sell or buy order by specifying a certain desired price or market price for the digital asset held in the e-wallet depending on how the service provided by the company is used, and a sales contract between members is concluded as soon as the order entered matches another member's intention to trade.
3. Members who wish to sell or buy digital asset via the service provided by the Company must register the transaction using the form provided by the Company.
4. Members cannot change the digital asset information registered for trading after the transaction, and cannot delete it once a buyer has been selected.
5. The interest and digital asset earned by the Company in the process of providing the service is the price of the service provided by the Company, and members cannot claim for its return.
6. Even when a sales contract is concluded, there may be a temporary delay before the conclusion of the sales contract is reflected on the member's terminal. Therefore, please use the service in a normal communication environment.
7. The transfer of digital asset is not completed until the time required to carry out the necessary procedures in the blockchain to which the digital asset belongs has elapsed. The Company performs transmission of digital asset to the e-wallet designated by the member, and is independent of the blockchain network in which digital asset transfer is performed. In this process, the Company estimates and receives from members the fees to be paid to miners and delivers the fees to the miners. Fees to be delivered to miners may fluctuate depending on the standby demand for transmission.
ARTICLE 15 – RESTRICTION ON SERVICE USE AND NOTICES
1. The Company may limit the member's use of the service according to the following criteria. The Company shall notify the members thereof by e-mail or the like.
|
Restrictions |
Grounds for Suspension |
Effect of Suspension |
Conditions of Relief |
|
Restrictions on services |
- Real name (contact information) not confirmed - Member is determined to be a minor. - Member is involved in hacking / fraud incidents - Member is involved in an incident (or reasonably suspected to be involved in an incident) - Continuous security-related errors - Application for membership withdrawal - Member is suspected of engaging in criminal activity - Member is suspected of manipulating the market to obtain an unfair advantage, or disturbing the market order, etc. - Member is judged by the administrator to cause serious obstacles (including, but not limited to, DODS, unauthorized access, traffic generation due to mining, etc.) to normal service provision |
Suspension of transaction / deposit / withdrawal services other than login |
- Reasons for suspension cleared - To be determined by administrator |
|
Restrictions on login |
- Consecutive password errors - Member information is not sufficient for the changed policy even though the grace period related to the change of the service use policy has passed. - Other reasons for which the administrator decides to restrict the login |
Login not allowed |
- Reasons for suspension cleared - To be determined by administrator |
|
Restrictions on some services
|
- Membership is suspected of being used for a crime, such as money laundering and communication fraud, or using the service for fraudulent or abnormal transactions - It is suspected that the actual user's name does not match the member's name, because the member has given or loaned his/her account to a third party. - Member information is not sufficient for the changed policy even though the grace period related to the change of the service use policy has passed. - Company is notified by a government agency or financial company in Korea that the member's account has violated anti-money laundering obligations, or has been used for crimes such as telecommunication fraud - Service provision to a member has been suspended due to the judgment, decision, or order of a court or the request from the investigative agency. |
Restrictions on the use of services designated by the administrator |
- Reasons for suspension cleared - To be determined by administrator |
2. The Company may close the account of a member who is subject to service use restrictions after giving prior notice at its own discretion. The Company shall notify the member of the decision and its reasons for such a decision, and the member will be provided with a resolution procedure.
3. If a member's account is in violation of local laws; or, if a court, an investigative agency or a government agency requests suspension of a member's account, the Company may freeze the account and e-wallet without the member's consent, and at the same time cooperate with the investigation process.
4. When a member attempts to obtain unfair profits or disrupt the order of the market or commits an act suspected of causing serious damage to the company's operations, such as a criminal act or hacking, the Company can suspend the use of the member's account and liquidate all digital asset balances arbitrarily.
5. In such an event, the Company shall not be liable for any loss or profit incurred by the member due to the company's actions, and the service will be suspended until the reason for account suspension is resolved.
ARTICLE 16 – REFUND UPON TERMINATION OF SERVICE USE AGREEMENT
In principle, if a member wishes to terminate the service use agreement, the member must withdraw all digital assets in his/her account before applying for termination. However, if a member requests to withdraw the balance from the Company or if the balance is less than the fee, the following criteria will be applied.
▷ The member must agree to the deletion of the assets held (non-withdrawal balance and the member's balance).
▷ If the amount of each digital asset is less than the minimum withdrawal amount, it will not be returned.
ARTICLE 17 – CANCELLATION OF RESTRICTIONS ON SERVICE USE
1. The Company may lift service restrictions when a member whose membership is suspended defends himself/herself against the reasons to limit the transaction and the Company determines that the defense is reasonable.
2. If the reason for suspension continues to occur, the suspension can be lifted only if all the release conditions are met.
ARTICLE 18 – Notice
1. The Company shall comply with the relevant laws and regulations and the TOS, and make every effort to provide the service continuously and reliably.
2. The company may have a security system to protect personal information (including credit information) so that members can safely use the service, and shall disclose and comply with the privacy policy.
3. The Company must deal with the opinions or complaints raised by members regarding the use of the service, if they are justified, and may communicate the process and results to members on the bulletin board in the service or by e-mail.
4. In no case does the Company guarantee the value and exchangeability of any digital asset, and the economic interests arising from the member's transaction belong entirely to the member.
5. The market price of the digital asset provided by the Company to members may be inconsistent with the actual transaction price due to technical limitations such as errors in the program or system, information asymmetry, and restrictions in the domestic and foreign communication environments. The Company, however, is making every effort to improve the consistency of the market price provided to its members.
6. The Company does not guarantee the authenticity of the personal information of the members held by the Company. However, upon confirming that the information provided by a member is not true, the Company is obliged to stop the member from using the service and take corresponding measures.
7. The Company shall not be liable for any damages arising from the theft of a member's account by a third party without any cause attributable to the Company.
8. The Company can set a minimum unit amount for all transaction activities using the service, and can truncate digital assets that fall below that amount. In such a case, the Company will not compensate the member for the truncated amount.
9. The price of digital asset can vary greatly depending on laws, policies, authoritative interpretations, economic environments, and other incidents in various countries including the Republic of Korea. In particular, the interpretation of the legal action for the transaction of digital asset differs from country to country, so there is a unique risk different from fiat currency. Members must be aware of this.
10. The Republic of Korea does not officially recognize the legal status of digital asset, and in particular, does not acknowledge digital asset transactions as financial transactions. Therefore, the legal status and value of the digital asset may change depending on changes in the policy of the Republic of Korea.
11. The communication service that members are using has nothing to do with the company's transaction service. Therefore, members must check the speed and other conditions of the communication service they are using, and be careful to prevent unwanted transactions when the communication status is poor.
12. While the Company strives to secure the service, most actual hacking incidents occur secondarily due to hacking of the Wi-Fi network used by members, negligence of a member in managing account information such as passwords, and leakage of personal information recorded on the server, etc. Considering this, it is necessary to prepare for the damage caused by hacking.
13. The Company is committed to maintaining the integrity of the transaction system in order to minimize inconveniences that may occur when members use the service. Accordingly, the Company checks the company's servers and provides advance notices before various inspections. However, when the servers must urgently be checked for unexpected reasons, the reasons for the check and the progress will be reported through the service or social media account related to the service.
14. In the event that members are expected to suffer damage during an emergency check due to a sudden change in the price of digital asset or unexpected circumstances, the Company may attempt to minimize damages to members by canceling all orders received for a certain period of time.
15. To promote a sound and safe market, the Company does not provide margin trading services.
Chapter 6: SERVICE FEE
ARTICLE 19 – DIGITAL ASSET TRANSACTION SERVICE FEE AND APROBIT CONTENT FEE
1. In providing the service, the Company can choose between charging transaction fees and charging monthly flat-rate fees in exchange for providing services to the buyers/sellers. The service fee policy is specified on the company's service website, and may be changed from time to time depending on the company and market conditions.
2. When the service fee policy is changed, the Company must disclose such fact on the service website, and may charge the service fee according to the amended policy immediately after the announcement or from the effective date specified in the announcement.
ARTICLE 20 – CANCELLATION OF SERVICE SUBSCRIPTION AND REFUND
1. In any of the following circumstances, a member may cancel his/her subscription and obtain a refund by notifying the customer center, either verbally or in writing (including through electronic documents) during the use of the company's services.
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- if there is no service availability within 7 business days, and the service fee has been paid
- if the Company is solely responsible for the unavailability of the service
- in other cases specified by the Company for the protection of consumers
- If the Company decides to accept a member's request for a refund, the Company will calculate the balance that the member can receive and refund the remaining amount after deducting the refund fee. However, if the service is not available for reasons attributable to the Company, as per Article 20 (②), the Company should not deduct the refund fee.
- While members can object to refunds and service fees, any such objections must be raised within one month from the date the reasons for objection were recognized and within three months from the date the reasons for objection occurred. If no objection is raised within the above period, the rights related to the member's objection will expire.
- When a member requests a refund of the service fee for his or her own reasons, if the use or purchase of the paid service provided by the Company is completed with only one use after payment, a refund is not possible after using the service. In addition, if a member violates the TOS and the Company restricts the member's use of the service or terminates the agreement, the Company is not obliged to refund the member.
2. When a member requests a refund for reasons such as termination of the paid service use agreement and cancellation of subscription, the Company shall refund the member after deducting fees for the use of contents that the member did not purchase, such as services and gifts provided by the Company to members for free, and 10% of the paid service fee as a refund fee.
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- When the service price is discounted due to events or other reasons, the service fee and refund fee will be set based on the list price.
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ARTICLE 21 – RETURN OR COLLECTION OF OVERPAYMENTS OR ERRONEOUS PAYMENTS BETWEEN THE COMPANY AND MEMBERS
1. The Company and its members are obliged to immediately repay the difference in the event of any mistaken payment.
2. If the Company or a member discovers any mistaken payment, it must notify the other party. If the party taking the overpayment does not pay it back within one month, he or she may be punished according to the relevant laws.
3. Any overpayment by the member will be refunded. When an overpayment occurs during the payment process, the refund in principle must be requested from the open market operator. If an open market operator's policy and system support the refund process, the Company may ask the open market operator to implement the necessary refund process.
4. Refunds may be restricted if the service use is restricted or the service use agreement is terminated due to reasons attributable to members, such as violation of current laws and the TOS.
5. Overpayment will be refunded within 7 business days in accordance with the procedures established by the company.
6. In principle, refunds will be made in the same way as the original payment. However, if refunds cannot be made in the same way, they can be made in another way.
7. In the event of an overpayment due to reasons attributable to a member, the member will be responsible for the fees required for the refund.
8. Charges incurred using application downloads or network services (call charges, data call charges, etc.) are not eligible for refund.
Chapter 7: COMPENSATION FOR DAMAGES AND INDEMNITY
ARTICLE 22 – COMPENSATION FOR DAMAGES
1. The Company makes no promises or warranties for any specific matters not specified in this TOS in connection with the service, to the extent permitted by law. Moreover, the Company does not guarantee the integrity of digital assets not issued by the Company, nor does it guarantee the value of digital assets or goods for which payment is not guaranteed by the Company. In addition, the Company does not guarantee the reliability or accuracy of any information, data, and facts posted on the service by members.
2. The Company shall compensate the members for damages incurred in accordance with the laws and regulations of the Republic of Korea if the members suffer damages due to the company's intention or negligence. The Company, however, does not compensate for any damages that have been incurred by its members in the event that the Company is unable to provide the service to the members due to a force majeure event that is not attributable to the Company, such as war, incident, flood, earthquake and other natural disasters or actual or legal administrative measures and orders of the government agencies in Korea.
3. If any information provided by the member to the Company is different from the fact, the Company may stop providing the service at any time and terminate all or part of the service agreement under this TOC, and may claim compensation for damage caused to the Company.
4. If a member makes a claim for damage to the Company pursuant to this Article, the Company can compensate the member for such damage by paying digital asset in the e-wallet that is finally confirmed as held by the member. However, this applies only if the member wishes to be compensated in such manner.
5. In the event of damages to the Company due to illegal activities by a member, the Company may exercise the right to claim damages from the member. For this reason, members must ensure that they use the company's services in compliance with laws and regulations.
ARTICLE 23 – INDEMNITY
1. In the event of damages to a member due to the company's intention or negligence, the Company will compensate for the damages according to this TOC and the relevant laws. In the event of the following damages, however, the Company will recover only the digital asset that matches the result with error removed from the final transaction history that is confirmed in the company's data, and does not take any responsibility in this regard. Moreover, the Company shall not be liable for indirect damages, special damages, and punitive damages to the extent permitted by law, including:
▷ Service failure caused by member's fault
▷ Damages to a member in the process of accessing or using the service due to reasons attributable to the member
▷ Damages caused by a third party illegally accessing or using the company's servers
▷ Damages caused by a third party interfering with transmissions to or from the company's server
▷ Damage caused by a third party transmitting or distributing malicious programs
▷ Damages caused by a third party using the service, such as defamation
▷ Damages caused by the failure of telecommunications services provided by telecommunications operators (in particular, including cases where the company's service provision has failed due to reasons attributable to the operators who provide telecommunications service by establishing legal relationships such as service use agreements with the Company and members, or due to other force majeure events)
▷ Damages caused by force majeure events such as war, incident, flood, fire, earthquake, or other natural disasters or national emergencies
▷ Damages caused by inevitable failures due to the nature of digital asset (in particular, including cases where the company's service provision has failed due to a defect or technical limitation of the blockchain system itself)
▷ Damage caused by the Company checking the company's server for service provision
▷ Damages caused by other companies due to reasons other than their intention or negligence
ARTICLE 24 – DENIAL OF REPRESENTATION AND WARRANT
1. The Company makes no promises or warranties for any specific matters not specified in this TOS in connection with the service, to the extent permitted by law. Moreover, the Company does not guarantee the reliability or accuracy of information, data, and facts posted on the service by members, and is not responsible for any damages caused to the member therefrom.
2. The Company does not have the authority to represent members who want to sell or buy digital asset, and no act of the Company shall be considered as an act on behalf of the seller or buyer.
3. The Company does not take any liability of guarantee for the products or services handled on the sites linked to the Company. The Company and the sites linked to the Company operate independently of each other, and the Company does not take any responsibility for the transactions made between the sites linked to the Company and the members.
ARTICLE 25 – DISPUTE RESOLUTION
The TOS or the service shall be regulated or implemented in accordance with the laws of the Republic of Korea, and the applicable laws for resolving disputes shall be the laws of the Republic of Korea, regardless of the nationality and place of residence of the members. However, if there is no law or Supreme Court ruling regarding digital asset in Korea, any precedent or prevailing opinions outside of Korea may have the effect of applicable laws regarding disputes in this TOS or service. In any dispute between the Company and its members regarding the use of the service, it is desirable to first make an attempt to amicably seek a resolution between the parties. Nevertheless, if the dispute is not resolved in this manner, a lawsuit may be brought before the competent court under the Civil Procedure Act of the Republic of Korea; however, it is not permitted to file a lawsuit with a court, judicial authority, arbitral institution or other equivalent outside Korea, and members must also agree to the foregoing.
SUPPLEMENTARY PROVISIONS
- This TOS (Term of Service) shall enter into force on 01 June, 2020.