BTCNIA Terms and Conditions

Article 1 (Purpose)

These terms and conditions set forth the rights, obligations, responsibilities, and other required matters related to the usage of the BTCNIA and various BTCNIA related services provided by SL Partners Co. Ltd. (hereinafter referred to as the “Company”).

In addition, by accessing or using the services of the BTCNIA platform (including clicking “Agree”), you agree to the following terms and conditions and to be legally bound by all terms and conditions.

Article 2 (Definitions)

The definitions of the terminology used in these terms and conditions are as follows.

1. "Service" is defined as the cryptocurrency transaction services and all various related services of BTCNIA that the user can use regardless of terminal (including various wired and wireless devices such as PCs, mobile phones etc.).

2. "Member" is defined as a customer who has accessed the Service, entered into a service agreement in accordance with these terms and conditions, and uses the services provided by the Company.

3. "ID(ID or account)" is defined as the combination of letters or numbers assigned to the Member to allow the Company to identify the Member and provide services after the Member has agreed to these terms and conditions and the privacy policy.

4. "Nickname" is defined as the distinctive name(combination of letters and numbers) that a Member, who has agreed to these terms and services and the privacy policy’ determines and the Company collects to use the Service.

5. "Cryptocurrency" is defined as the subject of the Service which is information that exists electronically in a blockchain which can be transacted in the Service such as Bitcoin, Ethereum etc.

6. "KRW" is defined as the virtual means of payment which the Member can use for cryptocurrency transactions in the Service, and which can be exchanged for cash.

7. "External Cryptocurrency Address" is defined as any cryptocurrency address or account that the Member or another party owns or uses outside of the Service. External Cryptocurrency Accounts are not owned, controlled, or operated by the Company.

8. "BTCNIA wallet" is defined as the cryptocurrency wallet used by BTCNIA to store Cyptocurrency linked with the BTCNIA ID of the Member. The Member may send and receive Cyptocurrency with an External Cryptocurrency Address through the BTCNIA wallet.

9. "Posting" is defined as text, pictures, videos, various files, and links in the form of information such as symbols, characters, audio, sound, images, video etc. that the Member posts on the Service.

10. "Contents" is defined as online information or data in digital form such as symbols, characters, audio, sound, images, video etc. that the Company provides to the Member.

11. "Open Market" is defined as the application transaction site operated by the “Open Market Service Provider”.

12. "Open Market Service Provider" is defined as the electronic commerce company which provides the installation of the Service and payment functions.

13. "Payment Company" is defined as the company providing electronic payment methods such as credit card payment and mobile phone payment etc., that can be used in the “Open Market”.

14. "Charge Payment " is defined as the act of payment to purchase charged Contents etc. within the Service.

15. "Paid Contents" is defined as Contents purchased through Charge Payment.

16. "Market" is defined as the virtual space where the Member may buy and sell Cryptocurrency based on their own intentions.

17. "Major Partner Company" is defined as a company that provides a major function (including but not limited to login function, cryptocurrency exchange linkage function etc.) for the Service through a partnership agreement etc. with the Company.

18 “Mining” is defined as the act of receiving the set number of tokens proportional to the commission expenditure which occurs from commission expenditure incurred when transacting cryptocurrency within the set environment of the Service.

19. “NIA Token” is the cryptocurrency issued by the Company and is defined as the cryptocurrency used for Services (transaction commission refund, voting services) provided by the Company. 

20. “Airdrop” is defined as the act of refunding commission incurred in BTCNIA in accordance with prior agreed upon conditions. 

21. “Holding” is defined as the act of the customer to select a time where NIA tokens are locked in a state where they cannot be sold to prevent them being transacted in the market for the purpose of receiving more Airdrops.

22. “Buyback” refers to the act by the company to purchase a certain number of tokens which have been actively traded in BTCNIA.

23. “Destruction” is defined as the complete deletion of a certain portion of issued tokens and this means that the number of total tokens issued will decrease by the number of destroyed tokens.

24. “Niabox” is an account created to provide Services in BTCNIA and is defined as an account sharing information with an investor who owns a certain amount of NIA Tokens, does not sell the owned NIA Tokens in the market, and who pays the operation fess, buyback, event costs of BTCNIA by receiving Airdrops from owned NIA Tokens. 

25. “Golden Bell” is an event provided by BTCNIA which is defined as the event of providing an agreed upon certain amount of cryptocurrency to the first buyer of the prior notified price when the price of the Cryptocurrency reaches a price prior announced by the operator.

26. “Short-cut Key” is defined as the service where purchase price, amount, transaction completion, transaction cancellation can be completed using the keyboard when buying/selling Cryptocurrency. 

27. “Penalty” is defined as a reduction in a certain number of tokens that have been in Holding in the case Holding is cancelled.

Article 3 (Disclosure and Changes to the Terms and Conditions)

①   The “Company” shall post these terms and conditions in the service or in a linked screen so that a “Member” may easily examine the contents of the terms and conditions.

②   When required, the Company may amend these terms and conditions to an extent not violating related legislations.

③   In the case the “Company” amends these terms and conditions, it shall it shall provide a disclosure specifying applicable date and amendments from 7 days prior to the applicable date to the date prior to the applicable date. Provided that such amendment is disadvantageous to the “Member”, disclosure will be made 30 days prior to the applicable date.

④   In the event that the Member does not express their intent despite clear disclosure by the Company in accordance with the previous paragraph that a lack of intent by one day prior to the application date following a disclosure by the Company shall be considered expression of agreement, unless the Member has clearly expressed disagreement it shall be assumed that the Member has agreed to the amended terms and conditions.

⑤   In the event that the “Member” disagrees with the amended terms and conditions, the “Member” is allowed express refusal to the “Company” by 1 day prior to the application date and to cancel the agreement.

Article 4 (Interpretation of the Terms and Conditions)

①   The company may have separate operating policies in addition to these terms and conditions.

②   For matters or interpretations not specified in these terms and conditions, they shall follow operating policies, operation guides, and related legislation.

Article 5 (Entering into the Agreement)

①   The usage agreement is entered into when the a person who wishes to become a Member(hereinafter referred to as the “Applicant”) agrees to the contents of the terms and conditions provided by the company, completes the application procedure determined by the Company, and when the “Company” approves such application.

②   Related to the application of Applicants, the “Company” may not approve applications that are applicable to the following and it may cancel approvals or terminate service agreements thereinafter if any of the following have been confirmed.

    1. In the case the Applicant has previously experienced membership disqualification under these terms and services 

    2. In the case a false name or the name of another person has been used 

    3. In the case false information was provided, or in the case information requested by the Company has not been provided

    4. In the case approval is not possible due to reasons attributable to the user, or in the case an application was made in breach of these terms and conditions or other conditions or regulations

    5. In the case the Services are to be used for illegal purposes or separate business purposes

    6. In the case the application was made in violation of related legislation, or in the case it was made for the purpose of harming wellbeing and order or society or to harm traditional customs

    7. In the case the Applicant is a non-resident foreigner or under the age of 19

③   The time of entrance into the agreement shall be set as the time when the Company has marked the completion of account creation in the application procedure, or when notification has reached the Applicant in accordance with the method outlined in Article 22.

④   The Company may request real name confirmation or identity authentication from specialized organizations in accordance with legislation to confirm whether the information provided by the Member is factual.

Article 6 (Modification of Member Information)

①   The Member may inspect and modify their personal information at any time through the Service. However, IDs required for service management may not be modified.

②   In the case the information provided at the time of member application has changed, the Member shall change the information directly through the Service or inform the Company on the changes through the customer center.

③   The Company shall not be liable for any damages that may occur by not informing the Company of the changes from the previous paragraph.

Article 7 (Management of Member Information)

①   The Company may limit the use of the Nickname of a Member in the case there is a concern of personal information leakage, the case the Nickname can be confused to be of someone other than the Member, in the case it is anti-social or harms traditional customers, in the case it infringes on the rights of a 3rdparty,orinthecasetheNicknamecanbeconfusedwiththeCompanyorCompanyoperator. In addition, in the case the Company acknowledges that there is a need following reasonable judgement, usage to the relevant Nickname may be restricted.

②   In the case the account and password registered by the Member matches the ones registered in the Company, the user shall be considered the Member without additional identification procedures.

③   The Member has the duty to safely store all required information for account access including the password to prevent 3rdpartieswhohavenotreceivedauthorizationfromtheMembertoaccesstheMemberaccount.

④   As soon as a Member has recognized that they have lost their account access information, in the case it has been stolen, or has been disclosed to a 3rdparty,theymustinformtheCompanyimmediately. The Company may take steps including immediately blocking account usage etc.

⑤   The Company shall not be responsible for damages to the Member that occurs due to the loss, theft, or disclosure of Member access information including account password etc. However, this does not apply in the case of intentional harm or negligence by the Company.

Article 8 (Protection of Personal Information)

The Company shall endeavor to protect the personal information of the Member in accordance to relevant legislations including the Act on the Information and Communications Network, Personal Information Protection Act etc. The personal information protection policy of the Company and relevant legislation applies with respect to the protection and usage of personal information. However, the personal information protection policy of the Company will not be applicable to any screens linked from screens provided by the Company.

Article 9 (Obligations of the Company)

①   The Company shall endeavor not to participate in actions that violate related laws or these terms and conditions and shall do its best to provide continuous and stable Services.

②   The Company shall have security systems to protect personal information(including credit information) so that the Member can safety use the Service and shall announce and follow their personal information handling policy.

③   In the case the Company acknowledges opinions or complaints by Members related to Service usage, it shall process this. For opinions or complaints raised by the Members, the Company shall utilize billboards in the Service or e-mail to inform to Member of the handling process and result.

Article 10 (Obligations of the Member)

①   Members may not participate in the following actions.

    1. Using the information of others

    2. Changing information posted by the Company

    3. Transmission or posting of information(computer programs etc.) other than the information selected by the Company

    4. Infringement of the intellectual property such as copyright etc. of the Company or other 3rd parties

    5. Acts that harm the dignity or impede the business of the Company or of a 3rd party

    6. Making information public or posting information on the Service which includes explicit or violent messages, videos, audio, false information, and other information that go against public order and standards of decency

    7. Use of Services for monetary purposes without prior approval from the company

    8. Use of automated methods including Agents, Scripts, Spiders, Spyware, Toolbars etc. without prior approval from the Company, access to the Service through other unauthorized methods, actions to unfairly create or increase view counts or click counts, acts to request Service usage, acts that places large loads on Company servers

    9. Acts to collect the personal information or account information of other Members

    10. Acts that disrupt healthy order in transactions through methods that negatively affect prices of Cryptocurrency etc.

    11. Other illegal or unfair behavior

②   The Member must follow related laws, these terms and conditions, usage guides and announcements related to service usage and the Service issued by the Company etc., and not participate in behavior that disrupts the business of the Company.

Article 11 (Copyrights of Postings)

①   The copyright of Postings posted within the Service by a Member shall receive protection under the Copyright Act and shall provide the Company with the perpetual license to use it following legitimate procedures and methods. The scope of usage and permission of the above license is as follows.

1. Rights to use, edit, save, copy, modify, disclose, transmit, public demonstration, public disclosure, distribution of   Postings for the operation, improvement, upgrade, new service development, promotion etc. of the Service

2. Rights to create and distribute secondary copyrights of the Postings

②   Rights to report, broadcast the contents of the Posting through media and telecommunications companies for the promotion of the Service. In the case the Company wishes to use the Posting of a Member in ways other than outlined in the above paragraphs, they shall receive prior approval from the Member through phone, fax, e-mail etc.

③   Even in the case the Member terminates the agreement or in the case the agreement is terminated in accordance with Article 21, this license shall persist within the scope of the purposes such as Service operation improvement, upgrade, promotion etc., provided in Paragraph 1.

Article 12 (Usage Rights of Postings)

①   The losses or other issues that arise from the unauthorized voluntary usage of a Postings shall solely be responsibilities following the individual judgement of a Member, and the Company shall not bear responsibility for this.

②   A Member may not use Postings for the purpose of violating the intellectual property rights or other rights including portrait rights, copyrights etc. of another. The results that may occur due to actions that violate the rights of others shall solely remain the responsibility of the Member.

③   A Member may not use Postings for commercial or other personal gain without authorization.

④   In the case a Member has caused damages to the Company through usage of Postings without Company authorization, the Member has the duty to repay damages to the Company following legal procedures.

Article 13 (Management of Postings)

①   A Member may not include content that violates the copyrights of other or include false information in Postings. In the case the Posting of a Member includes contents in violation of related legislation including the Act on the Information and Communications Network and Copyright Act etc., the copyright holder may request a cease of posting and deletion of the relevant Postings, and the Company must take action in accordance to relevant legislation.

②   Even in the case there is no request by the copyright holder pursuant to the previous paragraph, actions such as posting refusal or deletion of the relevant post may be taken in the case there is cause to acknowledge rights violations, in the case it is judged to be false information, or in the case it is in violation of other Company policy or related legislation.

Article 14 (Rights to Ownership)

①   Copyright and intellectual property rights related to the Service shall remain with the Company.

②   Related to its services, the Company only grants usage rights for Members following the usage terms set by the Company, and a Member may not participate in disposal actions such as transferring, selling, or putting up as collateral.

Article 15 (Provision of Services etc.)

①   The Company may divide the Service into a certain range and set separate usage times for each range. However, in this case, this must be announced in advance.

②   As a rule, the Service shall be provided throughout the year, 24 hours a day.

③   In the case of maintenance and inspection, replacement, and failure of information and communication equipment such as computers; loss of communication; or reasonable issues with operation, the Company may temporarily stop the provision of Services. In this case, the Company must notify the Members beforehand through notification in the initial Service screen or the announcements billboard. However, in the case the Company has an unavoidable reason that they were not able to give this notification in advance, they may notify after the fact.

④   The Company may conduct regular maintenance when required for the provision of services, and regular maintenance times shall follow the announcements on the service provision screen.

Article 16 (Modification of the Service)

①   The Company may modify the contents, operational and technical aspects of the Service to provide stable Services.

②   In the event the Service is changed, prior announcement including the contents of the services to change and the commencing date shall be made. However, in the case the Company has an unavoidable reason that they were not able to give this notification in advance, they may notify after the fact.

③   In the case a Member does not agree with the Service changes, they may express their intent of rejection to the Company and terminate the agreement.

Article 17 (Usage of the Service)

①   When the Member deposits cash into the account designated by the Company, the Company shall pay a number of KRW to the BTCNIA wallet of the Member corresponding to the calculation of a 1 won cash deposited to 1KRW ratio.

②   The Member must submit Cryptocurrency trading orders to the Company following the method determined by the Company.

③   In the case the Member submits a Cryptocurrency trading order, they must have the required KRW or Cryptocurrency in their BTCNIA wallet to complete the trading order.

④   If the Member owns NIA Tokens, a portion of the transaction commission that occurs in BITCNIA is Airdropped to the NIA Token owner wallet. The Airdrop ratio is announced beforehand at BITCNIA, and in the case the Airdrop amount for each category is below 10 won, Airdrops are not paid. Airdrop is calculated on a daily basis and paid out on the next day.

⑤ It is possible for a Member to place the NIA Tokens that they own in Holding in order to receive more Airdrops. When Holding additional Airdrops following the ratio announced beforehand in provided. Tokens in Holding cannot be transacted in the market. At the end of the agreed upon period, the Holding is automatically ended, and transactions are possible.

⑥   Holding cancellation before the agreed upon time is possible by a Member. A Penalty is incurred when cancelling Holding, and a Penalty amount is subtracted from the Holding amount before being paid to the Member. 

⑦   The Company provides order confirmation information including summaries of the amount, price, and commission etc. of the Cryptocurrency to be bought or sold to the Member before the order is submitted. The Member agrees that even in the case the Company does not provide this order confirmation information, it will not affect the order submitted by the Member.

⑧   The Member agrees to the Company not being responsible for price changes in the Cryptocurrency. In the occurrence of a halt in the Cryptocurrency market or unavoidable circumstances such as those shown in Article 23 Paragraph 2, the Company make conduct one or more of the following responses and the Company shall not be responsible for losses incurred by the Member due to these responses.

1. Cease of access to the Service

2. Cease of all activities within the Service

⑨   In the case a Member requests a withdrawal of the KRW the Member owns, the Company shall deposit cash in the amount calculated at a ratio of 1 won to 1 KRW to an account previously registered by the Member.

⑩   The Company may request real name confirmation or identity authentication from specialized organizations in accordance with legislation to confirm whether the information provided by the Member is factual when depositing or withdrawing cash or Cryptocurrency.

⑪   In the case the balance of Cryptocurrency in the BTCNIA wallet of the Member is larger than the amount corresponding to outstanding orders, an amount excluding commission from the balance may be sent to an External Cryptocurrency Address. Responsibility for the accuracy of the External Cryptocurrency Address provided by the Member lies with the Member, and the Company shall not be responsible for Cryptocurrency being sent to an incorrectly inputted External Cryptocurrency Address by the Member.

Article 18 (Precautions related to Service Usage)

①   The Company may refuse an order submitted through the Service, or place limitations in transaction conditions such as transaction amount when required to prevent damages to Members due to the causes shown in Article 5 Paragraph 2, Paragraphs 1 and 2 of Article 20, and other similar causes. For example, limitations may be placed on the number of outstanding orders that can be set through the Service, or limitations may be placed on transactions with Members in a certain region. In this case, the Company shall notify Members following the methods in Article 22.

②   A Member may only cancel orders before the order submitted to the Service has been completed. For orders that have been partially completed, the remaining orders which have not been completed may be cancelled. In the case the Member has submitted an order at market price the Company may refuse the cancelation request.

③   A member can select price, quantity, order completion, order cancellation using Keyboard Short-cut Keys. Incorrect input using the Short-cut Keys may lead to loses for the Member. All responsibilities for transactions due to incorrect input and Member PC errors lies with the Member. 

④   In the case the amount of usable Cryptocurrency in the Member’s BTCNIA wallet is not sufficient to complete the order submitted by the Member, the Company may cancel the entire order or complete a partial order in the amount of usable Cryptocurrency in the Member’s BTCNIA wallet.

⑤   In the case continuing services is difficult due to the termination of the business following sale of the business, split-off, mergers etc.; termination of a contract with a Major Partner’; or major business issues such as marked deterioration in profits etc. the Company may end all Services. In this case, unless there are unavoidable reasons, the Service end date, reasons for Service end, methods to transfer Cryptocurrency owned by users etc., shall be notified to the Member using the method in Article 22 Paragraph 1 at least 30 days before the Service end date. However, even in the case the Company stops transaction support, it shall support the transfer(withdrawal) of the Member’s Cryptocurrency in accordance to Article 18 Paragraph 5 in these terms and conditions so that the Member is able to safety transfer(withdraw) their assets of Cryptocurrency.

⑥   The Company may add or exclude individual Cryptocurrencies that the Member can use in the Service based on causes for unavoidable cease of Service provision including defects in the Cryptocurrency itself, bankruptcy/dissolution of Major Partners, end of Cryptocurrency transaction support; related legislation the policies of the government including supervisory authorities; or other commensurate causes. The Company shall make a reasonable effort to inform the Member beforehand whether it will remove the Cryptocurrency. In the case a specific Cryptocurrency is excluded in the Services provided by the Company, the Company shall support transfer(withdrawal) of the Cryptocurrency to personal wallets issued by other exchanges other than BTCNIA for a period of at least 30 days from the announcement date of the Cryptocurrency transaction support ceasing.

⑦ The contents provided by the Service are supplementary material for Service usage and is not a recommendation or suggestion for investment or trade. The Company does not guarantee the accuracy of the information of the contents or the information provided by other information providers. The Company may support new Cryptocurrency transactions following its operating policy.

Article 19 (Service Commission)

① In the case a Member uses Services the Company provides including Cryptocurrency transaction services, Cryptocurrency deposit/withdrawal services etc., they must pay commissions in relation to the services. Service commissions are disclosed in the Company homepage or in the in the “Commission Guide” of the application.

② In the case of special conditions, the Company can determine Service commissions through negotiations with the Member.

Article 20 (Usage Restrictions etc.)

① The Company may restrict login to the Service by Members in the following cases.

   1.In the case of repeated incorrect password errors

   2. In the case hacking or fraud has been perpetrated

   3. In the case of suspicion of stolen identity

   4. In the case national authorities have requested Service restrictions following related legislation

   5. In the case of participation in price manipulation, money laundering, unfair practices, illegal activities or in the case when reasonable suspicion of participation exists

   6. In the case the user registered as a Member has been confirmed to be a minor

   7. In the case the Member has been confirmed to have made Korean won deposits/withdrawals into an account in the name of another person

   8. In the case of incidents commensurate to the above cases or in cases actions are required to prevent such cases

② The Company may delay or restrict the deposit and withdrawal of the Member in the following cases.

   1. In the case the user registered as a Member is confirmed to be a minor or a non-resident foreigner

   2. In the case hacking or fraud has been perpetrated or there is suspicion of such acts having occurred

   3. In the case of suspicion of stolen identity

   4. In the case national authorities have requested Service restrictions following related legislation

   5. In the case of participation in price manipulation, money laundering, unfair practices, illegal activities or in the case when reasonable suspicion of participation exists

   6. In the case the Member has been confirmed to have made Korean won deposits/withdrawals into an account in the name of another person

   7. In the case of incidents commensurate to the above cases or in cases actions are required to prevent such cases

④  The security level of accounts that have the potential to be misused for crimes such as voice phishing, money laundering etc. (small amount, long-term inactive accounts etc.) may be changed following operating policies.

⑤  The conditions and details of restrictions in the scope of usage restrictions in this article shall be pursuant to what the Company has determined in its operation policy, usage guidelines etc.

⑥  In the case Service usage is restricted or the agreement is terminated in accordance to this article, the Company shall inform the Member using the methods following Article 22.

⑦  A Member may file an objection the usage restrictions pursuant to this article through the BTCNIA customer center. In the case the Company acknowledges the object is justified, the Company shall immediately resume usage of the Service.

Article 21 (Cancellation of Agreement)

①   The Member may at any time request cancellation of the agreement through the my information management menu in the Service or through the customer center etc., and the Company shall immediately process this pursuant to related legislation.

②   In the event of the following cases, the Company may determine a period to restrict Service usage while at the same time request correction. In the case corrections do not occur over a significant time despite correction requests, or in the case the same violations are repeated more than 2 times, the agreement may be terminated.

   1. In the case the obligations of the Member stipulated in Article 10 of these terms and conditions are violated or the case they are applicable to causes for usage restrictions stipulated in Article 20

   2. In the case related legislation have been violated such as provision of illegal programs and operation disruption violating the Copyright Act; illegal communication and hacking, distribution of malware, acts exceeding access rights in violation of the Act on the Promotion of Information and Communications Network Utilization and Information Protection, etc. 

   3. In the case acts have been perpetrated or attempted to disrupt the smooth operations of the Services provided by the Company

   4. Other cases that are commensurate to these items which create causes that make it impossible to maintain this agreement

③ In the case of agreement termination following the above Paragraph, all benefits gained through the use of the Service shall be voided, and the Company shall not provide separate compensation for such loss.

④ In the case of Service agreement termination in accordance with this Article, the Company shall notify the Member using the methods following Article 22.

⑤  In the case agreement termination has been completed, all Member information excluding the information that the Company must store in accordance with related legislation and the personal information handling policy shall be deleted.

⑥ In the case the Company terminates the agreement following Paragraph 2, despite the previous paragraph the Company may store Member information for a certain period for the purpose of receiving and processing objection requests etc. and when the specified period has passed, Member information (excluding Cryptocurrency transaction details) shall be deleted.

Article 22 (Notification to Member)

① In the case the Company provides notification to the Member, it may do so through the e-mail address provided by the Member etc. unless there are separate regulations set in these terms and conditions.

② In the case of notifications by the Company to all Members, it can replace the notification in the previous paragraph by posting the notice in a billboard in the Service for over 7 days.

Article 23 (Limitation of Liability)

①  In the event the Company or Member has caused damages to their counterparty through violation of these terms and conditions, they shall have the responsibility to compensate those damages. However, this shall not apply in the case where there is no intent or wrongdoing by the acting party.

② In the event damages occurred to Members due to the following circumstances, when the Company has shown that it has taken all the required cautions by the manager to prevent damages to the Member, the Company shall not be liable for those damages.

   1. In the case caused by wartime, war, natural disaster, or equivalent national emergency

   2. In the case caused by following the practical or legal administrative measures and orders of government organizations

   3. In the case caused due to service disruptions of telecommunications companies including key telecommunications service providers according to the Telecommunications Business Act

   4. In the case disruptions to the Service is caused by faults in external systems that the Company cannot manage or by a fault by the user

   5. In the case disruptions to the server occur due to sudden increases in homepage access, flooding of orders in a specific category etc.

   6. In the case disruptions or errors occur in the transaction system, deposit/withdrawal system in the Service, or in the network of each Cryptocurrency (e.g. the Bitcoin network)

③ The required cautions by the manager from Paragraph 2 of this article includes the following.

   1. Appointment and management of an information protection supervisor

   2. Information protection training

   3. Protective measures for the data processing room (location where the electronic, communications, and security equipment required for the main operations of Cryptocurrency transactions of the Company or for storage of important information is installed), facilities in the building the data processing room is located, information protection systems (equipment and programs to protect information from actions to leak, change or falsify, or damage information within the data processing system, or to disrupt ordinary services of the information processing system), and the data processing system (hardware, software, and related equipment used by the IT department including for Cryptocurrency transactions)

   4. Encryption key (private key required for the signature to authenticate disposal authority related to Cryptocurrency) management methods

   5. Establish responses to react to information security breaches

   6. Regular inspections on information protection measures and security breach responses

   7. Other matters that information protection related legislation require Cryptocurrency handling personnel to adhere to

Article 24 (Payment Settlement)

①  While the price etc. of Paid Contents are determined by the price shown in the store etc. within the Service, in the case of payment in a foreign currency, differences between the estimated payment amount at the time of purchase and the actual billed amount may vary due to FX rates and commissions etc.

②  The Member must pay the payment amount following the policies, methods etc. determined by the Open Market Service Provider and the Payment Company.

③  Payment amount limits can change following the policies of the Company, the Open Market Service Provide, or the Payment Company, or following policies of the government.

Article 25 (Subscription Withdrawal)

①  The Paid Contents purchased by Members is divided into contents where subscription withdrawal is possible and contents where subscription withdrawal is impossible. Subscription withdrawal is possible within 7 days of purchase for contents where subscription withdrawal is possible. Subscription withdrawal is limited for contents past this period or for contents where subscription withdrawal has been restricted by related legislation in the Act on the Consumer Protection in Electronic Commerce etc. For contents with subscription withdrawal restrictions, this fact shall be displayed or free contents that can be used for testing shall be provided.

②  Subscription withdrawal maybe limited even in the case of Paid Contents where subscription withdrawal is possible in the case 7 days have passed, in the case the value of the goods etc. has significantly decreased, in the case of other causes to restrict the subscription withdrawal of the Member.

③  Contents that the Member did not directly purchase such as contents the Company has provided for free to the Member (including Paid Contents and free contents), gifted Paid Contents etc. shall be exempt from being a target of subscription withdrawal.

Article 26 (The Effects of Subscription Withdrawal etc.)

In the case the Company has received a request for subscription withdrawal from a Member, it shall refund the purchase amount of the Paid Contents within 3 working days (within 3 working days from the payment confirmation date in the case payment confirmation is required) only in the case it is not contents where subscription withdrawal is impossible pursuant to Paragraph 1 and 2 of Article 24. In the case of delayed refund by the Company, a delay interest shall be paid calculated by multiplying the delay period with the interest rate set by Act on the Consumer Protection in Electronic Commerce etc.

Article 27 (Refund of Incorrect Payment)

① Refunds shall be made in the case incorrect payments are made by a Member. While in principle, refund requests must be made to Open Market Service Providers in the case incorrect payments were made in the payment process, in the case that refund procedures can be supported by the policy and system of the Open Market Service Provider, the Company may request the execution of the required refund procedure to the Open Market Service Provider.

② While refund using the same method used by the Member for payment is the rule, in the case when refund using the same method is not possible, refunds may be made using other methods.

③ In the case incorrect payments were made due to causes which are the responsibility of the Member, the Member shall bear the burden of fees etc. that are incurred in the refund.

④ Fees (phone bills, phone data bills etc.) which are incurred while downloading the application or when using network services shall be exempt from refunds.

Article 28 (Refund of Paid Contents)

① In the case the following situations apply in relation to Paid Contents, refunds can be received through the customer center.

   1. The case when Paid Contents were purchases, but there were no Services to use the purchased contents and when that responsibility is solely with the Company

   2. The other cases separately determined by the Company to protect consumers

② A Member who wishes to receive a refund for Paid Contents must make a refund request following the procedure determined by the Company, and the Company must evaluate whether the refund request is valid.

③ In the case the Company decides to provide a refund for the refund request by a Member, the Company shall calculate the balance of the Paid Contents that the relevant Member can receive, and it shall refund an amount excluding a 10% refund fee from the calculated balance. However, in cases when the service was not able to be used due to the fault of the Company as in Clause 1 of Paragraph 1 of this Article, the Company shall not deduct a refund fee.

⑤  Contents that the Member did not directly purchase such as contents the Company has provided for free to the Member (including Paid Contents and free contents), gifted Contents etc. shall be exempt from refunds.

Article 29 (Governing Law and Jurisdiction)

①  Disputes which occur between the Company and a Member shall be governed by the laws of the Republic of Korea.

②  The governing court for litigation related to disputes that occur between the Company and a Member shall be the court determined after negotiation between the parties, in the case negotiations are not successful, the governing court shall be the one determined by the Civil Proceedings Act.

Supplementary Provisions

1. These terms and conditions shall be effective as of December 20th,2018.