Chapter 1 General Provisions
Article 1 Purpose
The purpose of these terms is to stipulate the rights, duties, and liabilities of apM Members Co., Ltd. (hereafter “company”) and the member and other general matters with respect to using the apM Members service (hereafter “service”) that is provided by the company.
Article 2 Definition of Terms
The definition of key terms that are used in these terms are as follows.
1.
Service: Refers to the service that is provided by the company to allow the member to send/receive or purchase/sell apM Coins (or APM) and e-Vouchers within the apM Members app through various wired and wireless devices and programs, such as a mobile device or PC.
2.
apM Members app (hereafter “app”): Refers to the dedicated application that the company provides to the member for the purpose of providing services.
3.
Member: Refers to individuals who install the app, register, receive the company’s verification and approval, and sign a service usage agreement with the company.
4.
Operator: Refers to a person who was designated by the company for general management and efficient operation of the app and service.
5.
apM Coins (or APM): Refers to information that exists electronically on a blockchain network and are encrypted tokens that are issued in order to use the platform and service.
6.
apM e-Voucher (hereafter “e-Voucher”): An electronic prepayment method that is issued by the company, and can be recorded as electronic information, such as the amount, expiration date, place of use, etc.
7.
apM Asset: Collective term for apM Coins and e-Vouchers that have a valid monetary value or can be exchanged for monetary value, and can be used for online/offline payments, gifts, and other services through the app.
8.
PIN number: A member verification code is used to prevent unauthorized service use and unauthorized service access, and refers to a service password that is set separately by the member in order to use services.
9.
Biographical Information: Information related to physical traits that can identify an individual, such as their fingerprint, iris, face, etc. and is also referred to as bio information. The member can register their bio verification information in the app and use it as identity verification information when using services. The member can also choose to use this method to replace the password.
10.
Verification Information: Member identity verification method when using services, such as biological information and other identity verification methods that are recognized by the company.
11.
Payment: One of the methods of transferring the member’s apM Coins, e-Vouchers, and other assets. It includes the transmission method when the member who receives the asset uses special functions in the app after obtaining separate approval from the company.
12.
Gift: Refers to when the member uses verification information to transfer assets that can be gifted to another member after completing identity verification on the app.
13.
Refund: Refers to the act of converting the value of refundable assets into Korean won either online or offline through the operator.
14.
Settlement: Refers to converting the value of each asset, including apM Coins and e-Vouchers that the partner company received from the member in exchange for providing the partner company’s products or services, into the equivalent Korean won either online or offline through the operator.
15.
Electronic Wallet: Refers to a unique virtual wallet of members of apM Members that consists of alphanumeric characters and allows them to send and receive assets, such as apM Coins, apM Cash, e-Vouchers, and coupons, and can be used to send and receive assets between members or through external exchanges.
16.
QR Code: An image that contains alphanumeric information that allows members of apM Members to send and receive assets, and can be used to send and receive assets between members or through external exchanges or use apM Members services.
17.
Service Fee: The service usage fee that the company receives from the member for using the payment, prepayment, refund, and settlement services of apM Members. Service fees include payment fees, gifting fees, refund fees, exchange fees, settlement fees, etc.
Article 3 Changes to the Efficacy of Terms
1.
These terms are applicable to all users who intend on using the service.
2.
The content of these terms shall be posted on the service screen or announced to users through another method, and these terms shall be applicable to users who agree to these terms and use the service.
3.
These terms may be changed when deemed necessary by the company, and these terms may be changed within a scope that does not violate the “Act on the Regulation of Terms and Conditions”, “Act on Promotion of Information and Communications Network Utilization and Information Protection, Etc.”, and other relevant laws. If these terms change, the changes shall be immediately announced through the method in Paragraph 2. However, important changes to regulations regarding the user’s rights or duties must be announced at least 30 days before the effective date. However, if an urgent amendment is necessary due to an amendment in the law, the minimum announcement period may be bypassed and the announcement may be sent after the fact.
4.
If the member does not explicitly express their intent to refuse the changed terms even after the company announced that failure to express intention to refuse the changed terms by the effective date will imply that the member agrees to the changed terms when announcing the changed terms in accordance with Paragraph 2 above, this shall imply that the member agrees to the changed terms. If the member does not agree to the changed terms, service use shall be discontinued and the usage agreement may be canceled.
Article 4 Policy Outside of These Terms
1.
The company may have other operational policies aside from these terms.
2.
If matters that are not stipulated in these terms are stipulated in relevant laws, the relevant laws shall be followed.
Chapter 2 Service Usage Agreement
Article 5 Establishing the Service Usage Agreement and Member Registration
1.
Those who wish to register as a member and use services shall apply to register by expressing their intent to agree to these terms and the collection and use of personal information when requesting service.
2.
The service usage agreement between the company and member shall be established when the company approves the agreement after the member completes the identity verification process set forth by the company. The company shall not be held responsible for any disadvantages if the member refuses the company’s request for provision and cannot verify their identity.
3.
When providing personal information or company information to raise their member level, the member must provide information under their name and the company’s name. Members who register with another person’s name or the name of another company cannot receive legal protection, and may be restricted from using and service and subject to punishment in accordance with relevant laws.
4.
The member’s level is classified according to the security verification level in the apM Members app and service in accordance with the company’s internal member management policies.
5.
If the company approves the member’s registration request from Paragraph 2, the company shall notify the member of the member ID and other information that the company needs via e-mail, etc.
Article 6 Service Restriction and Suspension
1.
In any of the following cases, the company may cancel the service usage agreement or restrict or suspend service use.
a.
If the wrong password is entered consecutively, if the account is hacked, or if an accident occurs
b.
If there is suspicion of stealing another person’s ID, password, mobile phone number, etc.
c.
If a national institution requests service restriction in accordance with relevant laws
d.
If there is involvement or suspicion of involvement in money laundering, unfair trading, or criminal activities
e.
If the member violates relevant laws, supervisory regulations, or the guidelines of supervisory institutions
f.
If the service cannot be used properly due to usage suspension or cancellation of the mobile device, etc.
g.
If the service is used for illegitimate purposes that deviate from the purpose of the service
h.
If information obtained by using the company’s service information is copied, distributed, or used for commercial purposes without the company’s prior consent
i.
If there is a threat to the service, such as the distribution of a computer virus program, etc.
j.
If service cannot be provided in accordance with relevant laws, supervisory regulations, guidelines of supervisory institutions, or the company’s terms and guidelines, etc.
k.
Service use may be restricted if the user is a national, citizen, permanent resident, or resident of a country or region that has been designated as a non-cooperative country or territory by the Financial Action Task Force (FATF), and the member does not guarantee the following:
i.
That they are not a national, citizen, permanent resident, or resident of a non-cooperative country
ii.
That they will not use the service while residing in a non-cooperative country
l.
Other cases where there is a violation of these terms, if illegal or unauthorized usage request is confirmed, or other cases where the company deems it necessary with reasonable precaution
2.
If the member has an objection to the company’s measures from Paragraph 1, they may submit an objection in accordance with the procedures set forth by the company. If the company acknowledges the legitimacy of the objection, the company shall immediately resume the apM Members app and service use.
3.
If the usage agreement is canceled in accordance with Paragraph 1, all rights and duties regarding the apM Members app and service use shall be annulled, and the company shall not be required to provide compensation.
4.
If the company intends on restricting the apM Members app and service use in accordance with Paragraph 1, the company shall notify the member or their representative (company employee, etc.) of the reason, date, and period through a method such as e-mail.
5.
When the company confirms that the reason for suspending or restricting service use has been resolved during the usage suspension or restriction period, the company shall immediately lift the usage suspension or restriction measures.
6.
If there is or is concern for a war, disaster, natural disaster, or other equivalent national emergency situation or other reasons attributable to force majeure, the company may restrict or suspend all or a portion of the apM Members app or service without going through the process in the previous paragraph.
Article 7 Announcement and Cancellation of Service Usage Restrictions
1.
While the member’s service use is suspended or restricted, if the reason for the suspension or restriction occurs again, the company may cancel the usage agreement.
2.
If the member does not log in for 12 months or more, the company may automatically convert their account into a dormant account and may go through the process of suspending the account in accordance with regulations.
a.
Once the account is dormant, the member shall be unable to use apM and various services.
b.
The company shall perform an internal investigation on the dormant account and ask the member regarding their intent to use the service after notifying them through the member’s registered e-mail address, text message, or other valid method.
c.
If the member wishes to continue using the service, they may log in to apM to convert their account back to a regular account.
Article 8 Usage Agreement Cancellation
1.
If the member wishes to cancel the usage agreement, they may ask the company to cancel the agreement after transferring all of their assets (apM Coins, etc.) externally or converting them into Korean won.
2.
The member may request to cancel the usage agreement at any time through the information management menu or the customer service center, and the company must immediately process this request as prescribed in relevant laws.
3.
Once the usage agreement is canceled, all of the member’s information shall be deleted, excluding the information that the company must retain in accordance with relevant laws and the privacy policy.
4.
In spite of the previous paragraph, if the company cancels the usage agreement, the company may retain the member’s information for a set period of time in order to receive and process objections from the member, and member information (excluding apM Coin deposit and withdrawal records) shall be deleted after this period passes.
5.
If the member does not want to use the service that is provided by the company, they may delete their account at any time. All services that are provided by the company shall be discontinued as soon as the account is deleted.
6.
If the member is unable to log in with their ID and password, this implies that their account has been successfully deleted. The ID of a deleted account cannot be used again, even if it will be used by the same user (member).
Chapter 3 Service Use
Article 9 Service Use
1.
The services that are provided by the company to the member are as follows.
a.
Paying with apM assets, receiving payments, settlements, refunds
b.
Sending and receiving apM assets as gifts
c.
Viewing service usage records
d.
Managing partner stores, managing employees
e.
Using additional services that are provided from the apM shuttle bus, QR code, verification, guidance, and other services
2.
The company may provide additional services by developing them or through a partnership, and the content or format of the service is subject to change or disappear depending on the company’s internal and external circumstances and policies.
3.
When paying with apM assets or sending them as gifts, the company may request the member to provide personal information, complete real name verification, or complete identity verification through a specialized institution within the scope that is permitted by the law in order to verify whether or not the information that was provided by the member is true and to verify the matters that are set forth in laws related to money laundering.
4.
When paying with apM assets or sending them as gifts, there may be a limit to the number of times or maximum/minimum limit per transaction depending on the member level or regulations stipulated by the company. Details regarding limits are posted separately on the apM Members app or website.
5.
The member may pay with apM assets or send them as gifts to another member within the app after setting their transmission method from either their electronic wallet address, QR code, or phone number.
Article 10 Service Usage Fees
1.
The company shall charge the member fees for providing the service through the apM Members app.
2.
The fees may be charged when paying, settling, refunding, or sending gifts. Details regarding fees are indicated in the service description section of the apM Members app and website, and are subject to change according to the company and market circumstances.
Article 11 Service Content Announcement and Changes
1.
The company must announce matters regarding the characteristics, procedures, and methods of each service depending on the service type, and the member must understand the announced details before using the service.
2.
If the service content changes or if other announcements are to be sent, the company may notify members through the members’ registered e-mail address, an announcement on the apM Members app or website, app push notification feature, etc. For notifications through an announcement, the announcement must be posted for at least 7 days, and the company shall not be held responsible for any damages that are incurred by the member for not reading the announcements.
Article 12 Service Maintenance and Suspension
1.
By default, the service shall be available 24 hours a day, year round as long as there are no operational or technical difficulties by the company. However, the service may be temporarily suspended due to the company’s tasks or for technical reasons, and the service may be temporarily suspended for the period set forth by the company for operational purposes. In this case, the company shall announce the suspension before or after the fact.
2.
The company may divide up the service into different ranges and set separate time slots for when the service is available depending on the range. In this case, the details shall be announced in advance.
3.
In any of the following cases, the company may suspend the service.
a.
In unavoidable cases when a service facility requires repairs or other construction
b.
If the key telecommunications business operator prescribed in the Telecommunications Business Act suspends telecommunications services
c.
If a partner company or other 3rd party suspends services that are provided by the company through a partner company or other 3rd party instead of a service that is provided directly by the company
d.
Other cases involving reasons attributable to force majeure
4.
The company may restrict or stop all or a portion of the service if there is a hindrance to normal service use due to a state of national emergency, power outage, service facility defect, or a surge in service use, etc.
Chapter 4 Duties of Contracting Parties
Article 13 Company’s Duties
1.
The company shall allow the member to use the apM Members app and service once they are registered as long as there are no special circumstances.
2.
The company has the duty to provide safe and continuous service as set forth in these terms.
3.
The company shall process opinions that are presented by the member through the appropriate procedures. If it cannot be processed within a certain period of time, the company shall notify the member of the reason and the processing schedule.
4.
The company shall thoroughly maintain the security of the member’s personal information or company information that were discovered while providing the service. This information shall only be used for the purpose of operating or improving high-quality services, and cannot be leaked or distributed to 3rd parties without the member’s consent. However, this shall not be the case if it is in accordance with appropriate procedures under relevant laws.
Article 14 Member’s Duties
1.
When entering verification information, the member must use their own name or the name of their own company.
2.
The member must not use another person’s name or another person’s company name.
3.
The verification information that is entered must be truthful.
4.
The member is responsible for managing their ID and password.
5.
One ID cannot be used by multiple people to use the service that is provided by the company.
6.
If the member’s ID is used for unlawful purposes, the member must inform the company of the fact.
7.
Information that was obtained by using the service must not be copied, changed, published, broadcast, or used without the company’s prior consent. This information cannot be provided to another person or used for illegal purposes.
8.
The member must not partake in any actions that infringe upon the company’s copyrights, 3rd party’s copyrights, or any other rights.
9.
The member cannot partake in commercial activities by using the service without the company’s prior consent, and the company shall not be held responsible for the results that occur as a result of this.
10.
The member cannot transfer or give their service usage permissions or other rights in the usage agreement, and cannot offer it as collateral or other instances of disposal.
11.
The member must comply with the matters that are stipulated in these terms and relevant laws.
12.
The member must manage their taxes regarding service use. The company shall not be held responsible for tax issues.
Article 15 Duty to Manage the Member’s Verification Information
1.
The member is responsible for managing their verification information, and shall be responsible for all issues that occur due to a lack of managing their verification information or unauthorized use of this information.
2.
If the member becomes aware that their verification information was stolen or that a 3rd party is using their information, they must immediately take action such as changing their verification information. The member must notify the company and follow the company’s instructions, if provided. When entering verification information, the member must use their own name or the information of their own company.
Chapter 5 Personal Information Protection
Article 16 Personal Information Protection
1.
The company works to protect the personal information of members as set forth in relevant laws, including the “Act on Promotion of Information and Communications Network Utilization and Information Protection, Etc.” and “Personal Information Protection Act”.
2.
Relevant laws and the company’s privacy policy are applicable to the protection and use of personal information. However, the company’s privacy policy is not applicable to externally linked pages aside from screens that are created and provided directly by the company.
Article 17 Consent to the Use of Member Information
1.
The company’s privacy policy is applicable to the member’s personal information. When the member writes their member information on the usage application form and agrees to these terms and the privacy policy, this implies that they agree to the collection, use, and provision of the member information that they wrote on the usage application. The person in charge of managing member information is the operator that is designated by the company.
2.
The company may use member information or provide it to partner companies in accordance with the procedures set forth in this agreement in order to allow the member to use the company’s services and services provided by partner companies in a useful and convenient fashion. However, aside for cases where information is requested by national institutions in accordance with the regulations of the Framework Act on Telecommunications, for the purpose of investigating a crime, requested by the Korea Communications Standards Commission, or when information is requested in accordance with the procedures set forth in relevant laws, member information shall only be shared or distributed to 3rd parties after obtaining consent from the member and after announcing the partner company, purpose of providing information, and the information that will be provided in advance. However, if a transaction has been established and information on the transaction is exchanged between the parties involved in the transaction, the restrictions in this article shall not be applicable.
3.
If there is a change in the personal information that was written when the applicant or member requests to use the service, they must immediately revise the relevant information through the operator or through the member information change page. However, the member ID and name cannot be changed for identity management purposes.
4.
The member shall be responsible for any damage that is incurred as a result of not updating their information as prescribed in the previous paragraph, and the company shall not be held responsible.
5.
Cancellations to the member’s usage agreement shall be in compliance with Article 8. If the usage agreement is canceled, the member’s personal information shall be retained for the period of time that is stipulated in relevant laws, such as the “Act on the Consumer Protection in Electronic Commerce, Etc.”, and the information shall be deleted when the stipulated period of time passes.
6.
Even if the company has the duty to discard personal information, if it is necessary to retain the information in accordance with commercial law and other relevant laws, the member’s personal information shall be retained for the period of time that is stipulated in relevant laws.
7.
The personal information that was provided by the member cannot be used for purposes other than for the purpose that the member consented to. However, the following cases are excluded.
a.
When personal information is provided to the payment agency in order to charge fees and process payments
b.
When information is provided to an investigative institution as legal evidence
Chapter 6 Compensation for Damages and Indemnification Clause
Article 18 Limitation of Liability and Indemnification Clause
1.
The reasons for limiting the company’s liabilities in this article is also applicable when the member exercises their right to claim compensation for damages in accordance with the agreement and exercises their right to claim compensation for damages resulting from criminal activities.
2.
The content that is provided by the service is a supplementary tool for using the service. It does not recommend or suggest any investments or transactions. The content or information that is provided by other information providers may contain errors, delays, or other inaccuracies, and the company or other information providers shall not be held responsible for such inaccuracies.
3.
The information, opinions, or materials that are posted by the member on the service is independent from the company. Any legal liabilities related to the content of the posts shall be with the member who posted the post and members who read the post. In addition, the company shall not be held responsible for any information or materials that were posted by the member on the service, the reliability, accuracy, or legality of the facts.
4.
The company is not legally obligated to be involved in any disputes that occur between members or between the member or 3rd party regarding the service, and the company shall not be held responsible for this.
5.
The company shall not be held responsible for any damage that is incurred by the member if they are unable to provide services due to a natural disaster, DDOS attack, IDC error, server shutdown due to a surge in service access, or other equivalent cases attributable to force majeure. However, this shall not be the case if the incident was caused by the company’s intention or gross negligence.
6.
The company shall not be held responsible for any damage that is incurred by the member due to a 3rd party’s illegal company service access, other activities that hinder normal server operations, or unauthorized use of the company’s information up to the limit that is permitted by relevant laws. However, this shall not be the case if the incident was caused by the company’s intention or gross negligence.
7.
Aside from cases that are attributable to the company’s intention or gross negligence, the company shall not be held responsible for any unavoidable defects or service restrictions resulting from a defect in the cryptocurrency issuance management system itself or due to the nature of cryptocurrencies, such as technical limitations.
8.
The company is exempt from its duty to provide services if it must maintain or replace the company’s server in order to provide services.
9.
The company shall not be held responsible for server usage issues that occur due to reasons attributable to the member.
10.
The company shall not be held responsible for the use of services that are provided for free unless otherwise stipulated in relevant laws.
11.
The company excludes all explicit and implicit guarantees, including commercial value, appropriateness of a certain purpose, implicit guarantee regarding intellectual property rights or non-infringement up to the maximum scope in accordance with relevant laws. The company does not guarantee that the service features will satisfy the member’s demands or that temporary interferences or errors will not occur during computer use.
12.
When damage occurs due to the company’s partner, the damage shall be handled in accordance with the partner’s terms, and it shall be handled as a dispute between the member and the partner company.
13.
Among all the responsibilities that the company bears due to this service, relief to the members will only be provided in the form of a return of all or a portion of the commission fees. The company shall not be held responsible for any damage resulting from the service (including consequential, coincidental, indirect, special, economic, punitive, or other similar damages or loss of business profits, loss of business rights, business interference, computer failure or malfunction, loss of business information, or other general commercial or financial loss or damage) up to the maximum scope that is permitted by relevant laws. If the company is responsible, compensation shall not exceed the fees that were actually received from the member, excluding the customer’s assets.
Article 19 Compensation for Damages
1.
If Article 17 is applicable regarding use of the company’s services, the company shall not be held responsible for any damage that is incurred by the member. In all other cases, the company shall not be held responsible except if the incident was caused by the company’s intention or gross negligence.
2.
If the company, other member, or 3rd party receives damage as a result of the member’s violation of these terms, the member who violated these terms must provide compensation for all damages.
Article 20 Claiming Compensation for Damages
1.
Claims for compensation for damages must be written in writing by specifying the reason why compensation is being claimed to the company, amount being claimed, and basis of the calculations.
2.
The company’s liabilities to the member shall be limited to the return of all or a portion of the fees that were actually received from the member, excluding the customer’s assets, as long as there was no intent from the company.
Article 21 Governing Laws
1.
The laws of the Republic of Korea shall be the governing laws for lawsuits that are filed between the company and member.
2.
Lawsuits regarding disputes that occur between the company and member shall be filed to the company’s court of jurisdiction in accordance with the Civil Procedure Act.
Article 22 Relationship to Other Terms
1.
Regarding the “electronic prepayment method (e-Voucher)” that is used when using this app, these Terms of Service use shall take precedence over various matters that occur in the app and usage issues regarding this app. The electronic financial transaction (e-Voucher) terms and conditions shall take precedence for the direct rights and duties relationship regarding the electronic prepayment method (e-Voucher).
(Supplementary Provision) These terms shall take effect starting 2023.6.5.