(1) An electronic financial business entity registered with the Financial Services Commission under Article 28 to engage in the business under paragraph (2)3 of that Article (hereinafter referred to as "prepaid business entity") shall manage an amount prescribed by Presidential Decree corresponding to not less than 50/100 of the prepaid recharge funds (referring to the balance remaining after deducting the amount used for payment, transfer, refund, etc. from the amount paid by a user to a prepaid business entity in exchange for the issuance of prepaid electronic payment means; hereinafter the same shall apply) through a financial company prescribed by Presidential Decree, such as a bank (hereinafter referred to as "prepaid recharge fund management institution"), by a method falling under any of the following subparagraphs (hereafter referred to as "separate management" in this Article and Articles 36-2,42-2,49, and 51), and shall not use such funds for any purpose other than electronic payment transactions using prepaid electronic payment means. <Amended on Dec. 16, 2025>
1. Trust business;
2. Deposit;3 Payment guarantee insurance prescribed by Presidential Decree.
(2) A prepaid business entity may directly manage a prepaid recharge funds which is not separately managed and a prepaid recharge funds for which a payment guarantee insurance policy has been purchased pursuant to paragraph (1) 3.
(3) The prepaid recharge fund management institution that separately manages prepaid recharge funds pursuant to paragraph (1) and a prepaid business entity that directly manages prepaid recharge funds pursuant to paragraph (2) shall manage prepaid recharge funds in a safe manner prescribed by Presidential Decree.
(4) A prepaid business entity shall clarify the purport that the amount of prepaid recharge funds separately managed pursuant to paragraph (1) is the property of the user.
(5) No one shall offset or seize (including provisional seizure) any prepaid recharge funds that is separately managed pursuant to paragraph (1).
(6) No prepaid business entity shall transfer or offer separately managed prepaid recharge funds under paragraph (1) as security, except in cases prescribed by Presidential Decree, such as a merger or transfer of business.
(7) Where a prepaid business entity falls under any of the following subparagraphs, a prepaid recharge fund management institution shall preferentially pay a separately managed prepaid charge to a user upon a user's request. In such cases, necessary procedures, such as the method of making a request, shall be prescribed by Presidential Decree:
1. Where permission or registration is revoked or canceled;
2. Where a resolution for dissolution is passed;
3. Where a prepaid business entity is declared bankrupt or in other cases similar thereto prescribed by Presidential Decree;
4. Where an order to suspend all electronic financial business affairs is issued pursuant to Article 43 (2);
5. If any other cause or event equivalent to the causes and events under subparagraphs 1 through 4 has occurred.
(8) Where any cause falling under any subparagraph of paragraph (7) occurs, a person prescribed by Presidential Decree, such as a prepaid business entity, who becomes aware of such fact, shall immediately notify a person prescribed by Presidential Decree, such as a prepaid recharging management agency, of such fact.
(9) Where a prepaid charge management agency falls under paragraph (7) 2 or 3, the relevant prepaid charge management agency shall preferentially pay the separately managed prepaid recharge funds to a prepaid business entity. In such cases, the prepaid business entity shall re-manage the prepaid charge separately through another prepaid recharge fund management institution pursuant to paragraph (1) within the period prescribed by Presidential Decree.
(10) Where a prepaid recharge fund management institution is required to pay a prepaid recharge funds to a user pursuant to paragraph (7), a prepaid business entity which has separately managed the prepaid recharge funds may provide the following information to the agency as information on the relevant user:
1. Information that can identify the user;
2. Information on the prepaid recharge funds to be paid to the user;
3. Other information similar to those referred to in subparagraphs 1 and 2, prescribed by Presidential Decree as deemed necessary to comply with user requests.
(11) A user who holds a claim for a prepaid recharge funds, a transferee of such claim, or any other person prescribed by Presidential Decree shall have the right to be reimbursed with respect to the property separately managed with a prepaid recharge funds by a prepaid business entity in preference to other creditors.
(12) The Financial Services Commission shall check the management status of prepaid recharge funds under this Article on a quarterly basis.
(13) The scope of prepaid recharge funds to be managed separately, methods of calculating such money, standards and methods for separate management, methods of inspecting the status of management of such money, and other matters necessary for the management of such money shall be prescribed by Presidential Decree.[This Article Added on Sep. 14, 2023]