Terms and Conditions of the Confirmation of Purchase Conditions and Payment Agency Service

Article 1 (Purpose)

The purpose of these Terms and Conditions is to prescribe the basic matters concerning electronic financial transactions between the Company and the User in connection with the User’s use of the electronic payment gateway (payment agency) service provided by Shaashop Co., Ltd. (hereinafter referred to as the “Company”).

Article 2 (Definitions)

(1) The meanings of the terms used in these Terms and Conditions are as follows. Terms not defined in these Terms and Conditions shall have the meanings defined in accordance with general transaction practice.

“Electronic financial transaction” means a transaction in which the “Company” provides goods and services through an “electronic device” (hereinafter referred to as “electronic financial business”) and the “User” uses the same in an automated manner without meeting or communicating directly with an employee of the “Company.”
“Electronic financial transaction service” means the electronic payment gateway (payment agency) service that the “Company” provides as its “electronic financial business.”
“Electronic payment gateway (payment agency) service” means a service that transmits or receives payment settlement information, or that acts as an agent for or intermediates the settlement of the consideration therefor, in connection with the purchase of goods or the use of services by electronic means.
“Electronic payment means” means a means of payment by electronic methods as prescribed in Article 2, subparagraph 11 of the Electronic Financial Transactions Act, such as a credit card.
“Electronic payment transaction” means an “electronic financial transaction” in which a person who gives funds (hereinafter referred to as the “payer”) causes the “Company” to transfer funds to a person who receives funds (hereinafter referred to as the “payee”) using an “electronic payment means.”
“Electronic device” means a device used to transmit or process “electronic financial transaction” information by electronic means, including an automated cash dispenser, an automated teller machine, a payment terminal, a computer, a telephone and any other device that transmits or processes information by electronic means.
“Access medium” means any of the means or information falling under any of the following items, which is used to give a “transaction instruction” or to secure the authenticity and accuracy of the “User” and of the transaction details in an “electronic financial transaction”:
1. An electronic card and electronic information equivalent thereto
2. Electronic signature generation information under Article 2, subparagraph 4 of the Digital Signature Act and a certificate under subparagraph 7 of the same Article
3. The “User” number registered with the “Company”
4. Biometric information of the “User”
5. A password necessary for using the means or information under item a) or b)
“User” means a person who consents to these Terms and Conditions and uses the “electronic financial transaction service” provided by the “Company” in accordance with these Terms and Conditions.
“Transaction instruction” means the “User” instructing the “Company” to process an “electronic financial transaction” in accordance with these Terms and Conditions.
“Error” means a case where an “electronic financial transaction” has not been performed in accordance with these Terms and Conditions or with the “User’s” “transaction instruction,” without any intent or negligence on the part of the “User.”

(2) Except for matters defined in this Article and in the other provisions of these Terms and Conditions, the matters prescribed by the Electronic Financial Transactions Act and other relevant statutes shall apply.

Article 3 (Specification and Amendment of the Terms and Conditions)

(1) The “Company” shall post these Terms and Conditions on the service page before the “User” uses the “electronic financial transaction service,” so that the “User” may confirm the important contents of these Terms and Conditions.

(2) Upon the request of the “User,” the “Company” shall deliver a copy of these Terms and Conditions to the “User” by means of the transmission of an electronic document (including transmission by e-mail) or otherwise.

(3) When the “Company” amends these Terms and Conditions, it shall give notice to the “User” by posting the Terms and Conditions to be amended on the “Company’s” website one month prior to the effective date thereof. Provided, that where the Terms and Conditions are amended urgently due to an amendment of statutes, the “Company” shall post the amended Terms and Conditions on the “Company’s” website for at least one month and shall notify the “User” thereof.

(4) When the “Company” gives the public notice or the notification under Paragraph 4, it shall also give notice to the effect that “if the User does not consent to the amendment of the Terms and Conditions, the User may terminate the contract within 30 days from the date on which the User receives the public notice or the notification, and if the User does not raise an objection to the amended contents, the User shall be deemed to have consented to the amendment.”

(5) If the “User” does not raise an objection to the amended contents from the date of the public notice or the notification under Paragraph 4 until the business day preceding the effective date of the Terms and Conditions to be amended, the “User” shall be deemed to have consented to the amendment of the Terms and Conditions.

Article 4 (Types of Electronic Payment Gateway (Payment Agency) Services)

(1) The “electronic payment gateway (payment agency) services” provided by the “Company” are as follows.

Payment agency service: This means a service that transmits and receives payment information, through the Company’s electronic payment system, with respect to the payment settlement means provided by the User for the payment of the settlement amount, and that acts as an agent for or intermediates the settlement of the payment amount.

Article 5 (Service Hours)

(1) The “Company” shall, in principle, provide the “electronic financial transaction service” to the “User” 24 hours a day, all year round without holidays. Provided, that this may be determined otherwise depending on the circumstances of financial institutions and other issuers of payment means.

(2) Where the suspension of the service is unavoidable due to the repair or inspection of information and communications facilities, other technical needs, or the circumstances of financial institutions and other issuers of payment means, the “Company” may temporarily suspend the “electronic financial transaction service” after posting the fact of the suspension of the “electronic financial transaction service” through electronic means available for posting, no later than three days prior to the suspension of the “electronic financial transaction service.” Provided, that in unavoidable cases such as recovery from a system failure, urgent program repair, or external factors, the “Company” may suspend the “electronic financial transaction service” without prior posting.

Article 6 (Confirmation of Purchase Conditions and Transaction Details)

(1) The “Company” shall enable the “User” to confirm the “User’s” transaction details (including ‘matters concerning the fact of the “User’s” request for the correction of an “Error” and the results of the handling thereof’) through the “electronic device” used by the “User” for the “electronic financial transaction” (including, where there is an “electronic device” agreed upon in advance between the “Company” and the “User,” such “electronic device”); and where the “User” requests that the transaction details be provided in writing, the “Company” shall deliver a written document on the transaction details within two weeks from the date on which it receives such request.

(2) The “User” must accurately confirm, without fail, the detailed contents of the goods and the conditions of the transaction as set out on the site before purchasing the goods. All losses and damages arising from a purchase made without confirming the contents of the goods to be purchased and the conditions of the transaction shall be borne by the “User” personally. The “User” shall comply with these Terms and Conditions and with the contents notified by the Company on the service screen, and shall be liable for all losses and damages arising from a violation or non-performance of the Terms and Conditions and the notified contents.

(3) Where the “Company” is unable to enable the “User” to confirm the transaction details due to an operational failure of the “electronic device” or for any other reason, it shall immediately notify the reason therefor using the Internet or otherwise, and shall enable the “User” to confirm the transaction details from the time such reason ceases to exist.

(4) Where the “Company” has been requested by the “User” pursuant to Paragraph 1 to provide the transaction details in writing, but is unable to provide the transaction details due to an operational failure of the “electronic device” or for any other reason, it shall immediately notify the “User” thereof; in such case, in calculating the period for the delivery of the written document on the transaction details, the period during which the transaction details cannot be provided due to an operational failure of the “electronic device” or for any other reason shall not be counted.

(5) Among the transaction details subject to Paragraph 1, those for which the applicable period is five years are as set out in the following subparagraphs.

The type and amount of the “electronic financial transaction,” and information on the counterparty to the “electronic financial transaction”
The date and time of the “electronic financial transaction,” the type of the “electronic device,” and information by which the “electronic device” can be identified
Where the “electronic financial transaction” is conducted through an account, the name or number of the transaction account
Contents concerning the application for, and the change of the conditions of, the “electronic financial transaction”

(6) Among the transaction details subject to Paragraph 1, those for which the applicable period is one year are as set out in the following subparagraphs.

Matters concerning the fact of the “User’s” request for the correction of an “Error” and the results of the handling thereof

(7) Where the “User” wishes to request the delivery of the written document prescribed in Paragraph 1, the “User” may make such request at the following address and telephone number.

Address: 5th and 6th Floors, 6 Jong-ro, Jongno-gu, Seoul (Seorin-dong, Gwanghwamun Post Office)
E-mail: shaashop@naver.com
Telephone number: 070-4900-6420

Article 7 (Withdrawal of a Transaction Instruction)

(1) Where the “User” has conducted an “electronic payment transaction” using the “Company’s” “electronic financial transaction service,” the “User” may withdraw the “transaction instruction” through the transmission of an electronic document or otherwise, to the contact information stated in Article 5, Paragraph 6, until before the effect of such payment arises.

(2) The point in time at which the effect of the payment under the preceding paragraph arises means the time when the input of the information on the amount for which the “transaction instruction” was given has been completed into the electronic device of the financial company at which the “payee’s” account is opened, or of the “Company.”

(3) Where the effect of the payment under Paragraph 1 has arisen, the “User” may be refunded the settlement amount in accordance with the method for the withdrawal of subscription under relevant statutes such as the Act on the Consumer Protection in Electronic Commerce, etc.

Article 8 (Correction of Errors, etc.)

(1) Where the “User” becomes aware that there is an “Error” in using the “electronic financial transaction service,” the “User” may request the “Company” to correct the same.

(2) Where the “Company” receives a request for the correction of an “Error” under the provisions of the preceding paragraph, or becomes aware on its own that there is an “Error” in an “electronic financial transaction,” the “Company” shall immediately investigate and handle the same, and shall then inform the “User” of the cause and the results thereof by document, by telephone or by e-mail, within two weeks from the date on which it receives the request for correction or from the date on which it becomes aware that there is an “Error.” Provided, that where the “User” requests to be informed by document, the “Company” shall inform the “User” by document.

Article 9 (Generation, Preservation and Destruction of Records of Electronic Financial Transactions)

(1) The “Company” shall generate and preserve records that enable the tracing and searching of the details of “electronic financial transactions,” or the verification or correction of such details where an error occurs therein (hereinafter referred to as “electronic financial transaction” records in this Article).

(2) The types of records that the “Company” must preserve pursuant to the provisions of the preceding paragraph, and the preservation periods thereof, are as set out in the following subparagraphs.

The following “electronic financial transaction” records shall be preserved for five years.
1. Matters concerning subparagraphs 1 through 4 of Article 5, Paragraph 4 of these Terms and Conditions
2. The access records of the “electronic device” relating to the relevant “electronic financial transaction”
3. Records concerning “electronic financial transactions” in which the transaction amount per case exceeds KRW 10,000
The following “electronic financial transaction” records shall be preserved for one year.
1. Matters concerning subparagraph 1 of Article 5, Paragraph 5
2. Records concerning “electronic financial transactions” in which the transaction amount per case is KRW 10,000 or less
3. Records concerning transaction approvals relating to the use of “electronic payment means”

(3) Where the period for which records must be preserved pursuant to Paragraph 2 of this Article has elapsed and the commercial relationship, such as financial transactions, has terminated, the “Company” shall destroy the “electronic financial transaction” records (excluding credit information under the Credit Information Use and Protection Act) within five years. Provided, that this shall not apply where such records must be retained pursuant to other statutes, etc.

Article 10 (Prohibition of the Provision of Electronic Financial Transaction Information)

(1) The “Company” shall not provide to or divulge to a third party, or use for any purpose other than its business purposes, any information or materials concerning the personal particulars of the “User,” the “User’s” account, the “access medium,” and the contents and performance records of “electronic financial transactions,” which have been acquired in the course of providing the “electronic financial transaction service,” except where so required by statutes or where the consent of the “User” has been obtained.

(2) The “Company” shall establish and operate a privacy policy for the protection of the “User’s” personal information, so that the “User” may safely use the “electronic financial transaction service.” The “Company’s” privacy policy may be found on the “Company’s” website.

Article 11 (Management of the Access Medium)

(1) When providing the “electronic financial transaction service,” the “Company” shall select an “access medium” and shall verify the identity and authority of the “User” and the contents of the “transaction instruction,” etc.

(2) In using the “access medium,” the “User” shall not engage in any of the acts set out in the following subparagraphs, unless otherwise specially provided by other Acts. Provided, that this shall not apply where it is necessary for the transfer of, or the provision as security of, prepaid electronic payment means or electronic currency under Article 18 of the Electronic Financial Transactions Act (excluding the act under subparagraph 3 and the act of arranging the same).

The act of transferring or acquiring an “access medium”
The act of borrowing or lending an “access medium,” or of keeping, delivering or distributing the same, while receiving, demanding or promising consideration
The act of borrowing or lending an “access medium,” or of keeping, delivering or distributing the same, for the purpose of using it for a crime or with the knowledge that it will be used for a crime
The act of making an “access medium” the subject of a pledge
The act of arranging or advertising any of the acts under subparagraphs 1 through 4

(3) The “User” shall not divulge or expose the “User’s” own “access medium” to a third party or leave it unattended, and shall exercise sufficient care to prevent the misappropriation, forgery or alteration of the “access medium.”

(4) Where the “Company” receives notification from the “User” of the loss or theft, etc. of an “access medium,” the “Company” shall be liable to compensate for any damage incurred by the “User” from that time onward as a result of a third party’s use of such access medium. Provided, that the “Company” shall not be liable for damage relating to amounts stored prior to the notification of the loss or theft of prepaid electronic payment means or electronic currency.

Article 12 (Liability of the Company)

(1) Where damage is incurred by the “User” due to an accident falling under any of the following subparagraphs, the “Company” shall bear the liability to compensate for such damage.

An accident arising from the forgery or alteration of an “access medium”
An accident arising in the course of the conclusion of a contract or of the electronic transmission or processing of a “transaction instruction”
An accident arising from the use of an “access medium” obtained by false or other wrongful means through intrusion into an “electronic device” for an “electronic financial transaction” or into an information and communications network under Article 2, Paragraph 1, subparagraph 1 of the Act on Promotion of Information and Communications Network Utilization and Information Protection

(2) Notwithstanding the provisions of Paragraph 1, in a case falling under any of the following subparagraphs, the “Company” may have the “User” bear all or part of such liability.

Where the “User” has lent the “access medium” to a third party or has delegated the use thereof, or has provided it for the purpose of transfer or security
Where the “User” divulged or exposed the “access medium” or left it unattended, despite knowing, or being able to easily know, that a third party could conduct an “electronic financial transaction” using the “User’s” “access medium” without authority
Where an accident under Paragraph 1, subparagraph 3 has occurred because the “User,” without justifiable grounds, refused the additional security measures that the “Company” requires at the time of an “electronic financial transaction” for the strengthening of security, in addition to the verification under Article 10, Paragraph 1
Where an accident under Paragraph 1, subparagraph 3 has occurred because the “User” committed an act falling under any of the following items with respect to the media, means or information used for the additional security measures under subparagraph 3
1. The act of divulging or exposing the same or leaving it unattended
2. The act of lending the same to a third party or of delegating the use thereof, or the act of providing the same for the purpose of transfer or security
Where damage has been incurred by a “User” that is a corporation (excluding small enterprises under Article 2, Paragraph 2 of the Framework Act on Small and Medium Enterprises), and the “Company” has fulfilled the sufficient duty of care reasonably required, such as by establishing security procedures to prevent accidents and thoroughly complying therewith

Article 13 (Effect of an Electronic Payment Transaction Contract)

(1) The “Company” shall transmit the amount for which the “User” has given a “transaction instruction,” in accordance with the “electronic payment transaction” contract concluded with the “User,” so that the payment is made.

(2) Where the payment of the funds under the provisions of Paragraph 1 can no longer be made, the “Company” shall return the funds received to the “User.” In such case, where the payment was not made due to the negligence of the “User,” the “Company” may deduct the expenses disbursed in order to make such transmission.

Article 14 (Limits on the Amount of Use)

The monthly accumulated payment amount and the payment limit for each payment means of the “User” may be restricted in accordance with the “Company’s” policy and the standards of the payment companies (credit card companies, mobile carriers, etc.).

Article 15 (Dispute Handling and Dispute Mediation)

(1) The “User” may request dispute handling, such as the raising of opinions and complaints relating to “electronic financial transactions” and the claiming of damages, from the person responsible for dispute handling and the person in charge posted on the “Company’s” website.

Person in charge: Kim Tae-min
Inquiries: shaashop@naver.com

(2) The “User” may apply to the “Company” for the handling of a dispute, in writing (including electronic documents) or by using an electronic device; in such case, the “Company” shall inform the “User” of the results of the investigation or handling thereof within 15 days.

(3) Where the “User” has an objection concerning the handling of an “electronic financial transaction,” the “User” may apply for dispute mediation to the Financial Dispute Settlement Committee of the Financial Supervisory Service under the Act on the Establishment, etc. of Financial Services Commission, or to the Consumer Dispute Settlement Commission of the Korea Consumer Agency under the Framework Act on Consumers.

Article 16 (The Company’s Obligation to Ensure Stability)

The “Company” shall exercise the due care of a good manager so that “electronic financial transactions” may be processed safely, and shall comply with the standards prescribed by the Financial Services Commission concerning the information technology sector, such as the personnel, facilities, “electronic devices” and required expenses for electronic transmission or processing, concerning electronic financial business, and concerning authentication methods such as the use of certificates under the Digital Signature Act, so as to secure the safety and reliability of “electronic financial transactions.”

Article 17 (Rules Other than These Terms and Conditions)

(1) Where matters individually agreed upon between the “Company” and the “User” differ from the matters prescribed in these Terms and Conditions, such agreed matters shall be applied in preference to these Terms and Conditions.

(2) With respect to matters not prescribed in these Terms and Conditions other than the matters prescribed in Paragraph 1, where there is no other agreed matter between the “Company” and the “User,” the matters prescribed by relevant statutes such as the Electronic Financial Transactions Act, the Act on the Consumer Protection in Electronic Commerce, etc., and the Specialized Credit Finance Business Act shall apply.

Article 18 (Jurisdiction)

(1) With respect to matters not prescribed in these Terms and Conditions, the matters prescribed by consumer protection-related statutes, such as the Electronic Financial Transactions Act, the Act on the Consumer Protection in Electronic Commerce, etc., and the Act on Mail-Order (Distance) Sales, shall apply.

(2) The jurisdiction over disputes arising between the “Company” and the “User” shall be as prescribed by the Civil Procedure Act.

Addendum

Article 1 (Effective Date)

These Terms and Conditions shall apply from July 1, 2022.