Electronic Financial Transactions Act

전자금융거래법

Act · 금융위원회 · English text effective 2026-12-17 · Korean current 2026-10-02

Articles

• CHAPTER I GENERAL PROVISIONS
• Article 1 Purpose
• Article 2 Definitions
• Article 3 Scope of application
• Article 4 Principle of 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 of using telephone numbers used in illegal advertisements
• Article 6-3 Use and management of account information
• Article 7 Confirmation of transaction details
• Article 8 Correction 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
• 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
• Article 19 Refund of prepaid electronic payment 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
• Article 21-5 Notification 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
• Article 24 Clarification of terms and conditions and notification of alterations thereof
• Article 25 Preparation and alteration of terms and conditions
• Article 25-2 Protection of prepaid recharge funds
• Article 25-3 Duty to notify protective measures for prepaid recharge funds
• Article 25-4 Protection of funds subject to settlement
• Article 25-5 Duty to notify protective measures for funds subject to settlement
• Article 26 Provision 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 for permission, registration and authorization
• Article 33-2 Preliminary permission
• Article 33-3 Permission for change and registration of change
• Article 34 Cancellation of registration subject to application
• Article 35 Restriction on concurrent businesses
• Article 35-2 Concurrent operation of small-amount post-payment business
• Article 36 Prohibition of use of similar names
• Article 36-2 Rules of conduct of prepaid business entities
• Article 36-3 Rules of conduct for electronic payment settlement agents
• Article 37 Matters to be observed by chain stores
• Article 38 Recruitment of chain stores
• CHAPTER V SUPERVISION OF ELECTRONIC FINANCIAL BUSINESS
• Article 39 Supervision and inspection
• Article 39-2 Notice of measures taken against retired executive officers
• Article 40 Supervision and inspection of outside orders
• Article 41 Requests for submission of data by Bank of Korea
• Article 42 Keeping separate accounts and guidance for sound management
• Article 42-2 Protection of users
• Article 43 Revocation of permission or registration
• Article 44 Hearings
• Article 45 Authorization for merger, dissolution, or business closure
• 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 Delegation of authority
• CHAPTER VII PENALTY PROVISIONS
• Article 49 Penalty provisions
• Article 50 Joint penalty provisions
• Article 51 Administrative fines

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