(1) In assessing the credit standing of a sole proprietor, a sole proprietor credit rating company shall comply with the following:
1. It shall also consider information that can advantage the sole proprietor in the assessment, in addition to information that can disadvantage the sole proprietor in the assessment;
2. It shall not discriminate between persons who have a commercial transaction relationship, including financial transactions, with a sole proprietor credit rating company and persons without such relationship.
(2) No sole proprietor credit rating company shall engage in any of the following acts:
1. Forcing to purchase or use goods or services of the sole proprietor credit rating company or its affiliates in the course of assessing the credit standing of a sole proprietor;
2. Other activities prescribed by Presidential Decree, which are likely to undermine the protection of credit data subjects or sound credit order.
(3) A sole proprietor credit rating company shall establish internal control standards, which are standards and procedures to be complied with by its executive officers and employees in performing their duties, including the following; provided, a sole proprietor credit rating company that conducts a sole proprietor credit rating business pursuant to Article 11(2) need not include subparagraph 1 in its internal control standards if it assesses the credit standing of a sole proprietor by means of automated evaluation:
1. Matters regarding the separation of an assessment organization and a sales organization;
2. Matters regarding the prevention of conflicts of interests;
3. Matters concerning prevention on unfair practices;
4. Matters regarding the standards for assessing the credit standing, which are suitable for the characteristics of sole proprietors;
5. Other matters necessary for internal control standards, as prescribed by Presidential Decree.[This Article Added on Feb. 4, 2020]