(1) Except as otherwise provided in other statutes, this Act shall apply to all electronic financial transactions; provided, this Act shall not apply to any of the following transactions: <Amended on May 22, 2013, Dec. 16, 2025>
1. Among electronic financial transactions conducted in accordance with separately agreed contracts between financial companies and electronic financial business entities, cases prescribed by Presidential Decree;
2. Cases where consideration is incidentally received and settlement is made in the course of conducting business activities under any of the following statutes:(a) The Fair Transactions in Franchise Business Act;(b) The Act on Fair Transactions in Large Retail Business;(c) The Passenger Transport Service Act;(d) The Act on the Consumer Protection in Electronic Commerce;(e) Other statutes prescribed by Presidential Decree that regulate business activities similar to those under statutes provided in items (a) through (d).
(2) The provisions of Chapter V shall not apply to the financial companies referred to in subparagraph 3 (c) and (d) of Article 2. <Amended on May 22, 2013>
(3) The following shall not apply to the financial companies prescribed by Presidential Decree, considering the frequency of electronic financial transactions, size of company, etc. among financial companies: <Added on May 22, 2013>
1. Meeting the standards set by the Financial Services Commission for the information technology sector, in terms of human resources, facilities, electronic apparatus, etc. and electronic financial business under Article 21 (2);
2. Establishing and submitting plans for the information technology sector under Article 21 (4);
3. Appointing the chief information security officer under Article 21-2;
4. Analyzing and assessing the vulnerability of electronic financial infrastructure under Article 21-3.