Terms of Use

Upbit Terms of Use

Article 1 (Purpose)

The purpose of these Terms of Use is to set forth the rights, obligations, and responsibilities of Dunamu Inc. (hereinafter, the "Company") and Member with respect to Upbit and any Upbit-related Services offered by the Company.

Article 2 (Definitions)

The terms used herein shall have the following meaning:

1. "Service" means the Service of transacting Digital Assets (including various wired and wireless devices such as PC and portable terminals) and any Services related thereto, which are available by Upbit to the Member, regardless of device type used by the Member (such as PC and portable devices).

2. "Member" is a user that has agreed to the user agreement in accordance with these Terms of Use and uses the Services offered by the Company.

3. "ID (ID or Account)" means a combination of letters and numbers that is granted by the Company to a Member to verify the Member’s identity and provide the Services after the Member agrees to these Terms of Use and collection and use of personal information by the Company.

4. "Nickname" is the Member’s unique name (a combination of letters and numbers) set by the Member, who agrees to these Terms of Use and collection and use of personal information by the Company, and collected by the Company for the purpose of using the Services.

5. "Digital Assets" are digitalized assets with a certain value in the blockchain (such as Bitcoin or ETH) that can be traded in the Service. Unless otherwise specified in these Terms of Use, Digital Assets have the same meaning as Virtual Assets defined in the “Act on the Protection of Virtual Asset Users, etc.” (hereinafter, the “Virtual Asset User Protection Act”). Hereinafter, it is also referred to as Virtual Assets in these Terms of Use. The Member has the right to withdraw Digital Assets as much as the amount in the Member’s account.

6. "USDT" is an exchangeable virtual means of payment that can be used to trade Digital Asset into fiat within the Service by the Member. Member retains the right to claim cash withdrawals (i.e. the right to claim the return of deposits) equivalent to the value of USDT in the account.

7. "External Digital Asset Address" means any and all Digital Asset address or account that is owned or used by a Member or others outside the Services. All External Digital Asset Addresses are not owned, controlled or operated by the Company.

8. "Content" means the online digital information or materials that are made available by the Company to the Member in the form of signs, letters, diagrams, colors, voices, sounds, images or videos (or in the form of the combination of any of the above).

9. "Open Market" means the site of transacting applications, which is operated by "Open Market Operator".

10. "Open Market Operator" means an e-commerce company that offers the installation and payment function of the Services.

11. "Payment Service Providers" mean companies that provide electronic payment instruments available at "Open Market," such as credit cards and mobile applications.

12. "Payment" means the act of making a payment, in return for purchasing the Content and others within the Services.

13. "Paid Content" means the "Content" that is purchased by a way of making a "Payment."

14. "Market" means the virtual space where a Member can buy and sell Digital Assets according to their intentions.

15. "Important Partners" mean the companies that have concluded partnership contracts with the "Company" that provide a part of the functions (including but not limited to login functions and Digital Asset exchange connection functions) important for the "Service."

16. "Support Center" means online, call or offline services operated by the Company to serve customers related to the service.

17. "User Guide" means to matters related to service operation and use posted by the Company within the Service.

18. “CARF Implementation Rules” means the Public Notice on the Implementation of the Automatic Exchange of Crypto-Asset Information under the Information Exchange Agreement issued by the Minister of Economy and Finance, which prescribes matters delegated under Article 36 of the Act on International Tax Adjustment and Article 76 of its Enforcement Decree, as well as other matters necessary for implementing information-exchange agreements.

Article 3 (Posting and Amendment)

The Company shall post these Terms of Use on the initial landing and connecting page of the Services, to let these Terms of Use be known to the Member easily.
The Company may amend these Terms of Use to the extent of not violating relevant statutes, if necessary.
If the Company desires to amend these Terms of Use, it shall announce to (the acts of guiding all Members by posting on the initial landing page or bulletin board of the Services, or presenting a pop-up screen; the same applies below) or notify (the acts of guiding individual Members via e-mail, electronic memo, in-service message, text message (LMS/SMS), etc. provided by the Members to the Company pursuant to Article 19, Paragraph 1; the same applies below) the Member of the amended terms and the effective date from thirty (30) days prior to the effective date to one (1) day prior to the effective date. However, if these Term of Use need to be urgently revised and implemented in order to comply with the revised laws and regulations, policies and orders of governmental agencies, the Terms of Use may be announced and individually notified to the Members and implemented at the same time (provided that the revised contents are not unfairly disadvantageous to the Members).
According to paragraph 3 of this Article, if the Company clearly announced or notified the Member that, unless the Member expresses his/her/its intention to reject such amendment one (1) day prior to the effective date, the Member shall be deemed to have expressed his/her/its intention to agree to such amendment.
If a Member does not agree to amended Terms of Use, the Member may express his/her/its intention to reject such amended terms one (1) day prior to the effective date and terminate the user agreement of the Services.

Article 4 (Interpretation)

The Company may establish a separate or detailed operation policy other than these Terms of Use with respect to the Services.
Any matters not specified herein or interpretation thereof shall be subject to relevant statutes.

Article 5 (Conclusion of Use Agreement)

The user agreement shall be concluded by taking the following steps: i) a person who desires to become a Member (hereinafter, an "Applicant") agrees to these Terms of Use and completes the application in the procedure prescribed by the Company, ii) and then the Company accepts such application.
The Company may not accept an application if such an application falls into any of the following.
1. If reapplied by a Member who/that had forfeited Membership under these Terms of Use
2. If applied by an Applicant who/that uses a false name or the name of another person, not his/her/its real name
3. If the Applicant indicates or provides false or wrong information or fails to indicate the information requested by the Company
4. If it is impossible to accept an application due to reasons attributable to the Applicant or if the Applicant is in violation of any and all matters stipulated herein
5. If the Applicant intends to use the Services for Telecommunications-based Financial Fraud, fraudulent acts or other business purposes
6. If applied in violation of relevant statutes or for purposes of harming well-being and public order or proper social customs
7. If the Applicant is a non-resident, a foreign corporation or a minor
8. If the Applicant is a national, resident or a stayer of a country (hereinafter, a “Risky Country”) listed in the reliable data used to evaluate national risk according to the Act on Reporting and Use of Certain Financial Transaction Information (hereinafter, the "Certain Financial Information Act") and related laws, Regulations on Preventing Money Laundering and Prohibiting the Solicitation of Funds for Terrorism, and other guidelines provided by the FIU (hereinafter, "FIU guidelines")
9. If the Applicant is a person who requires additional information verification related to money laundering or is considered a person of interest according to the Certain Financial Information Act and related laws, FIU guidelines, and government instructions
10. If it is confirmed that the applicant is already registered as a Member and falls under a duplicate application
11. If the device environment is not supported by the Company
12. If the Applicant has not completed the phone authentication process
The user agreement shall be deemed to have been constituted when the Company has indicated the completion of creating the Applicant’s account in the application procedure or a notice given under Article 19 has reached the Applicant. A Member may use the Services only after the customer verification procedures have been completed and the identity verification certificate required under the CARF Implementation Rules has been duly submitted.
The Company may request to verify a Member’s real name or identity through a professional institution to the extent permitted by laws to check whether the information provided by the Member is true.
The Company implements a policy of one account per Member. The Member can use only one account under his/her/its own name, but can use two or more accounts only when the Company permits it exceptionally according to the Company's policy or if there is a separate agreement with the Company. If the Member uses two or more accounts without the Company's exceptional permission or separate agreement with the Company, the Company may take account consolidation procedures for the Member’s account or may take action against the Member's account in accordance with Articles 17 and 18 of these Terms of Use.
In order to prevent unauthorized use of the Services, re-enrollment in the Services is restricted for 24 hours upon withdrawal of membership (meaning termination of the user agreement; hereinafter the same shall apply). However, the Company may accept a re-enrollment request if the Member provides a reasonable explanation through the Customer Center demonstrating the grounds for requesting re-enrollment after withdrawal.

Article 6 (Change of Member’s Information)

The Member may access and change his/her/its personal information at any time through the Services. However, the Member may not change their ID that is required for the management of the Services.
If there have been any changes in the matters entered by a Member in applying for the Services, the Member shall directly make changes in the Services or notify the Company of such changes through the Support Center.
The Member is liable for any disadvantage that arises from failure to notify the Company of such changes as stipulated in paragraph 2 above, unless the disadvantages are caused by an intentional or negligent act of the Company.

Article 7 (Management of Member’s Information)

The Company may limit the use of a Member’s Nickname if the Nickname is likely to leak the Member’s personal information, to lead others to mistake the Member for another person or entity, if it is found to be antisocial or to harm proper social customs, or if it infringes on the rights of a third party or if it is likely to lead others to mistake the Member for the Company or the operator of the Company. In addition, the Company may limit the use of a Member’s Nickname if it is deemed necessary in the Company’s reasonable judgment.
The Company shall consider a user to be a Member without any verification procedure if the Account and password registered by the Member are the same as those registered with the Company.
The Member shall be responsible for keeping secure any and all information required for accessing his/her/its Account, including password, so as to deny a third party the unauthorized access to his/her/its Account without his/her/its permission.
If a Member becomes aware that his/her/its information used to access his/her/its Account has been lost, stolen or disclosed to a third party, the Member shall immediately notify the Company of the fact. The Company may immediately take measures, including the suspension of use of the Account.
The Company shall not be liable for any damage that is incurred to a Member due to the loss, theft or disclosure of the Member’s Account-related information, such as the password. Provided, this is not applicable to a circumstance where it is caused by the Company's intentional or negligent act.

Article 8 (Protection of Personal Information)

The Company shall make efforts to protect Members’ personal information in accordance with relevant statutes including the Personal Information Protection Act. The protection and use of personal information shall be governed by relevant statutes and the Company’s Privacy Policy. However, the Company’s Privacy Policy shall not apply to the page that offers links to external websites other than the pages created and offered by the Company.

Article 9 (Company’s Obligations)

The Company shall comply with relevant statutes and these Terms of Use, and do its best to provide the Services in a continuous and stable manner.
The Company may set up a security system designed to protect the Members’ personal information (including credit information) to ensure that the Member use the Services securely, and announce and comply with the Company’s Privacy Policy.
If the Company acknowledges that a Member’s opinion or the complaint filed by the Member in connection with the use of the Services is just, it shall reflect such opinion or handle such complaint and may notify the Member of the process and result of such reflection or handling through the bulletin board within the Services or by e-mail.
The Company shall (i) comply with the obligations of a virtual asset service provider prescribed under the Certain Financial Information Act, the Virtual Asset User Protection Act, the Act on International Tax Adjustment, and other related laws and regulations (including but not limited to the obligations of a virtual asset service provider relating to customer due diligence, the obligation to provide information for wire transfers, confirmation requirements for virtual asset transfers, the duty to take necessary measures as a virtual asset service provider, receipt of identity verification certificates, due diligence, verification of reportable users, reporting of transaction information, and the obligations of a crypto-asset service provider under the CARF Implementation Rules) (ii) take appropriate measures to prevent money laundering, including measures presented by the FATF and government agencies, and other measures to reduce money laundering risks, and (iii) comply with legal or de facto administrative dispositions, orders, recommendations, or guidance of financial supervisory authorities, and other government agencies. In this regard, the Company may choose appropriate methods to comply within the scope allowed by applicable laws and regulations, and may establish in the user guide the details of the actions that the Member must cooperate with the Company and the procedures for such actions.
In relation to the implementation of the obligations and measures under paragraph 4 of this Article, the Company shall fulfill the obligation to report and provide information necessary to government agencies in accordance with relevant statutes, and when reporting or providing information, the information collected and generated by the Company in the course of fulfilling its obligations and measures can be included.
In order to fulfill its obligations as a withholding agent stipulated by the relevant laws and regulations of the tax law, the Company may withhold the digital asset income of taxpayers such as non-residents and foreign corporations (including, but not limited to, the method of depositing digital assets as much as the expected tax amount each time a Member withdraws digital assets), and report and pay (including, but not limited to, transferring the deposited digital assets to the Company’s account at the time of withholding and/or the cash payment by selling the deposited digital assets).
In order to prevent unauthorized use of the Services, re-enrollment in the Services is restricted for 24 hours upon withdrawal of membership (meaning termination of the user agreement; hereinafter the same shall apply). However, if a Member withdraws and re-enrolls for more than three times within a year, the Company may restrict the member from re-enrollment for one (1) year from the time of the first withdrawal. The Company shall accept an application for re-enrollment only if the Member demonstrates through the customer center that there was a reasonable ground for re-enrollments after withdrawals.
The Company shall prepare standards and payment procedures for calculating the deposit usage fee, and shall pay the Members the consideration for the use of the deposit accordingly. In such cases, the deposit usage fee shall be reasonably calculated in consideration of operating income, expenses incurred, etc., and the Members shall be informed in writing, e-mail, fax, phone call, text transmission, or the equivalent thereof. In special circumstances where it is difficult for the Company to pay the deposit usage fee, such as when a Member fails to fulfill the Member’s customer verification obligation, when a real name verification deposit account is not registered, or when the Member is identified as a non-resident, the deposit usage fee may not be paid until the reason for the inability to pay the deposit usage fee is resolved, and accordingly, the amount of the deposit usage fee actually received by the Member may vary. The Company may determine and guide specific matters concerning the deposit usage fee in the user guide.
The Company may request a Member to submit an identity verification certificate or supporting documentation in accordance with the CARF Implementation Rules, and if a Member falls under any of the following subparagraphs, the Company may deem the Member to be an “obstructionist to the performance of obligations” under the CARF Implementation Rules and may report the Member to the Commissioner of the National Tax Service:
1. A person who refuses to submit an identity verification certificate or supporting documentation
2. A person who delays the submission of an identity verification certificate or supporting documentation
3. A person who submits an identity verification certificate or supporting documentation that is falsely prepared
4. A person who fails to notify the Company of changes to information contained in the identity verification certificate or supporting documentation
5. A person who otherwise engages in conduct that obstructs the Company’s performance of its obligations

Article 10 (Members’ Obligations)

The Member shall be prohibited from conducting any of the following:
1. Stealing another’s information
2. Changing the information posted by the Company
3. Transmitting or posting information (including computer programs) other than the information designated by the Company
4. Infringing on the intellectual property rights of the Company and any third party, including their copyrights
5. Tarnishing the reputation of the Company or any third party or disrupting their operations
6. Disclosing or posting obscene or violent messages, videos, audios, false facts or information that harms public order and proper social customs, on the Services
7. Using the Services for profitable purposes, without the prior consent of the Company
8. Accessing the Services, creating or increasing the number of exposure and clicks, applying for the use of the Services, or causing overload on the server of the Company, by automated means, such as Agent, Script, Spider, Spyware and Toolbar or by any other fraudulent means, without the prior permission of the Company
9. Collecting the personal information and Account-related information of another Member
10. An act that falls under Article 10, Paragraphs 2 through 4 of the Virtual Asset User Protection Act or an act similar thereto, disrupting sound transaction order by methods of exercising undue influence on the prices of Digital Assets
11. Using two or more Accounts contrary to Article 5, Paragraph 5
12. Attempting to enter or withdraw by directly or indirectly exceeding the entry and withdrawal limits announced by the Company (including, but not limited to, cases where a Member withdraws digital assets to another Member by a direct withdrawal method, and the above-mentioned another Member sells the digital assets deposited within 24 hours and withdraws them in cash)
13. Illegal acts that violate other relevant laws
The Member shall comply with relevant statutes, these Terms of Use, any user guide and any matter informed or notified by the Company in connection with the Services, and shall not conduct any act of disrupting the operation of the Company. In addition, entity Members shall comply with the “Supplementary Terms of Use for Upbit Entity Members.
The Member must cooperate in fulfilling the certain cooperation obligations and measures prescribed in Article 9, Paragraphs 4, 5 and 6 in the process of applying and using the Services. In this regard, in order for the Company to fulfill its obligations under Article 9, Paragraph 6, by agreeing to these Terms of Use, the Member agrees that the Company may deposit digital assets or transfer the deposited digital assets to the Company’s account in the process of withholding tax pursuant to Article 9, Paragraph 6.

Article 11 (Ownership of Copyrights and Intellectual Property Rights)

The Company owns or manages all intellectual property related to the Services, including Service names, logos, etc. Without prior written permission from the Company, Members are not allowed to create or use any signs or similar items that indicate or represent the Company's Services, such as trade names or trademarks.
The Company grants Members only the right to use the Services in accordance with the Terms of Use established by the Company with respect to the Services, and Members may not dispose of such right by assigning, selling, or providing it as security.
Even if the Company does not exercise its rights or remedies under the Terms of Use or related laws, it shall not constitute that the Company has waived its rights or remedies.
If a member wishes to use the Company's intellectual property, such as the Company's trademark or service screen, in his or her work such as a book or video, the Member must obtain prior written permission from the Company for such actions.

Article 12 (Provision of Services and Others)

In principle, the Services shall be available for 24 hours on 365 days. But the Company may divide the Services into several sub-Services and separately designate available Service hours for each sub-Service. In such case, the Company shall announce such Service hours in advance.
The Company may temporarily suspend the provision of the Services for maintenance and checkups for, replacement and failures of or loss of communication of, information communication equipment, such as computers, or if there is a reasonable operational reason. In such case, the Company shall announce to the Member of such fact on the initial landing page or bulletin board of the Services. However, if the Company is unable to announce to the Member in advance due to unavoidable circumstances (for example, circumstances that are difficult to predict or cannot be controlled by the Company, such as a sudden server failure, and similar circumstances), it may do so later.
The Company may conduct a checkup if deemed necessary for the provision of the Services. The checkup hours shall be announced on the page of the Services.
Notwithstanding the preceding Paragraph 3, if the Company blocks the deposit or withdrawal of a Member's Virtual Assets, it may notify the Member individually or collectively (or announce) the reason for blocking the deposit or withdrawal as prescribed in Article 19, Paragraph 7 of these Terms of Use.

Article 13 (Amendment of Services)

The Company may amend the terms and conditions of the Services or make operational or technical changes in the Services, to ensure the provision of stable Services.
If the Company amends the Services that affects the rights and obligations of the Members, it shall give a seven (7) day prior notice of such amended terms and the effective date. However, if the Company is unable to give a prior notice due to unavoidable circumstances, it may do so later.
If a Member does not agree to such amended terms, the Member may express his/her/its intention to reject such amended terms and terminate the user agreement.
In the event of a service change, existing non-contracted orders may be canceled for user protection (but in this case, the Company shall notify the Members in advance in accordance with paragraph 2 of this Article).

Article 14 (Use of Services)

If a Member deposits (including the collection by the Company with the Member’s consent) fiat into the account designated by the Company, the Company shall display to the Member’s Upbit Account the USDT amount that is calculated at the ratio of 1(fiat) : 1(USDT) and is equivalent to the deposited amount. The Member must use a verified deposit/withdrawal account (an account from the same financial institution that allows transactions, etc. between the Company and the Member) to exchange (deposit and withdraw) fiat and "USDT" within the deposit and withdrawal limits announced by the Company.
A Member shall submit an order on the sale and purchase of Digital Assets in the method prescribed by the Company.
When submitting an order, the Member must have the right to withdraw USDT or Digital Assets in excess of the amount required to execute an order.
Before a Member submits his/her/its order, the Company shall provide a summary that includes the quantity and price of the Digital Asset that the Member intends to purchase or sell, and a fee for the Member. The Member agrees that the Company’s failure to provide this order confirmation does not affect the order submitted by the Member.
A Member agrees that the Company shall not be liable for price fluctuations in Digital Assets. In the event of the suspension of Digital Asset markets or any occurrence of force majeure events as described in Article 20, Paragraph 2, the Company may take one of the following steps, and the Company shall not be liable for the loss incurred to the Member unless it is caused by an intentional or negligent act of the Company.
1. Denying any access to the Services
2. Suspending all activities within the Services
If a Member requests the Company to withdraw the USDT held by the Member, the Company shall pay the fiat that is calculated at the ratio of 1 (fiat) to 1 (USDT) to the pre-registered account by the Member.
The Company may request a professional institution to verify a Member’s real name or his/her/its identity to the extent permitted by laws, to check whether the information provided by the Member is true, in depositing/withdrawing cash and Digital Asset. If authentication fails, deposit and withdrawal will not proceed. If verification fails, deposit and withdrawal will not proceed.
If the remaining balance of Digital Assets in a Member’s Upbit Account is bigger than the amount of an order that is not executed, the Member may transmit the remaining balance less a fee to the External Digital Asset Address. The Member shall be liable for the accuracy of the External Digital Asset Address provided by the Member, and the Company shall not be liable for transmitting Digital Assets to the External Digital Asset Address that is wrongly indicated by the Member unless it is caused by an intentional or negligent act of the Company.

Article 15 (Matters to be Noted with Respect to Use of Services)

A Member may cancel his/her/its order only before the order submitted through the Services is executed. If an order is partially fulfilled, the remaining unfulfilled quantity may be cancelled.
If the Digital Asset that is available for use in a Member’s Upbit Wallet falls short of the amount needed to execute the order submitted by the Member, the Company may cancel the entire order or execute only the partial portion of the order, which is equivalent to the Digital Asset that is available in the Member’s Upbit Wallet.
The Company may suspend all Services if it becomes difficult to maintain the Service due to important managerial reasons such as the discontinuance of business (including business transfer, split, or merger), termination of contracts with Important Partners, and the drastic profit deterioration of the Services concerned. In this case, information such as the suspension date, suspension reason, and the transfer method for Digital Assets held by the Member shall be notified to the Member no later than 30 days before the suspension date using the method stipulated in Article 19, Paragraph 1 unless there are other unavoidable reasons. Provided, the Company shall support the Digital Asset transfer (withdrawal) of the Member in accordance with paragraph 4 of this Article to allow the Member to safely transfer (withdraw) their own Digital Asset even if the Company has suspended the support of trades.
The Company may suspend trade supports for individual Digital Assets the Member can use in the Service if there are unavoidable reasons to suspend the provision of Service (including defects in the Digital Asset itself, the bankruptcy or dissolution of Important Partners, in accordance with the "Trade Support Termination Policy," or the termination of trade support for Digital Assets), government measures (including relevant statutes and supervisory authorities), or other reasons equivalent to the above. The Company shall make reasonable efforts to notify the Member in advance whether to suspend the trade support for Digital Assets. If the Company suspends trade support for certain Digital Assets, the Company shall support the transfer (withdrawal) of the Digital Assets to a private wallet issued at an exchange other than Upbit for a minimum period of thirty (30) days (hereinafter, “Withdrawal Support Period”) after the notification has been made for the suspension of Digital Asset trade support. Provided that, if there is (i) a restriction under the policies of any state agency or relevant statutes, or (ii) a technical issue or reason, including an error in the blockchain network itself or the operator (project, etc.) of the relevant blockchain network carrying out an upgrade to the network, the period in which withdrawal will be supported may be shortened or changed (including a temporary suspension and subsequent resumption). However, the Withdrawal Support Period may be shortened or changed (including temporary suspension and resumption) if (i) there are restrictions under national government policies and relevant laws and regulations, (ii) the blockchain network itself fails or the operating entity (project, etc.) of the blockchain network has technical problems or reasons, such as upgrading the network. The Company shall specify the specific reasons for termination of trade support for Digital Assets in the "Trade Support Termination Policy" posted within the Service.
If a Digital Asset becomes untransferable due to network loss, operational interruption, etc. (including but not limited to cases where no block has been generated for more than 3 months), the Company will notify the Member holding the Digital Asset of the relevant details in accordance with the method stipulated in Article 19 and grant a grace period of at least 2 weeks. Unless the Member proves within the grace period that the network of the Digital Asset is in a transferable state, the Company may deduct the balance of the Digital Asset after the end of the grace period. However, if the Member consents, the Company may deduct the balance of the Digital Asset before the end of the grace period.
The Contents provided in the Service are auxiliary materials for Service use and are not a recommendation or suggestion for investment or trade. The Company strives to ensure the accuracy of the information provided in the Contents or by other information providers.
The Company may support the trade of new Digital Assets according to the Upbit Market Support Policy.
When issuing a Digital Asset deposit address, the Member must accurately check the Digital Asset type of the address issued. If a different type of Digital Asset is deposited to the issued address, the deposit will not be processed. The Company shall not bear any responsibility, such as compensation for damages, recovery support, etc., unless the Company intentionally or negligently conducts such wrong deposit (or wrong withdrawal; hereinafter the same shall apply). However, if the Company has a reasonable judgment that there is no or significantly reduced security risk and that the recovery support for the wrong deposit is technically and economically possible, the Company may support the recovery of the wrong deposit. In this case, the Company may inform the Member who requested the restoration in advance and charge a reasonable level of recovery cost.
The network type and quantity, etc. used by the Digital Asset are displayed on the right side of the name of the Digital Asset section at the top of the Digital Asset deposit/withdrawal menu. Members must accurately confirm the type of network of the digital asset to be used. In the event of wrong deposit due to wrong network selection or description, the Company is not liable of any responsibility for compensation for damages or recovery support unless it is caused by an intentional or negligent act of the Company. However, if there is no or a significantly reduced security risk and the Company reasonably determines that the recovery support for wrong deposit is technically and economically feasible, the Company may support the recovery of the wrong deposit, and in this case, the Members who requested the recovery may be informed in advance and charged a reasonable level of recovery costs.
When issuing deposit addresses for digital assets that do not have their own mainnet configured, the deposit address may be issued as a contract address. Unlike a regular wallet address, the contract address itself does not have a private key. Therefore, in case of a wrong deposit to the contract address, it cannot be recovered using the general Digital Asset recovery method using the private key, and it is also impossible for the Company to recover the wrong deposited asset. However, an exception is made in the case of a wrong deposit due to an intentional or negligent act of the Company.
Digital Assets for which trade support has ended will not be deposited, and will be processed so that they are in a state of pending deposit. During the Withdrawal Support Period under Paragraph 4 of this Article, the Member may make a request through the Upbit Customer Center for his or her Digital Asset, which is in a state of pending deposit, to be returned.
If the issuer of Digital Assets or a third party pays Digital Assets, NFTs, etc. to a Member with an intention to make payment to the Member without prior consultation with the Company by using a Digital Asset address that is managed and controlled by the Company or by using a separate Digital Asset address that uses the same character string and private key as the Digital Asset address managed by the Company (hereinafter, "Arbitrary Deposit"), the Company shall not bear any responsibility, including deposit processing, compensation for damages, recovery support, etc., for the Arbitrary Deposit unless there is intent or gross negligence on the part of the Company. However, if the Company determines that there are no security risks or that they have been significantly reduced, and that deposit processing, recovery support, etc. related to the Arbitrary Deposit can be carried out within a reasonable range technically and economically, the Company may decide to proceed with deposit processing, recovery, etc. For deposit processing, recovery, etc., a reasonable cost may be charged after informing the requesting Member in advance.
In order to protect users, comply with relevant laws such as the Electronic Financial Transactions Act, and manage security, the Company may set per-transaction and daily limits on deposits and withdrawals of USDT and Digital Assets, taking into consideration the market price, transaction volume, frequency of and demand for deposits and withdrawals, network characteristics, and other relevant factors for each Digital Asset. Specific matters regarding the applicable limits shall be governed by the Deposit & Withdrawal Guide and User Guide available through the Support Center. If a Member wishes to make a deposit or withdrawal exceeding the daily limit, the Member must agree with the Company in advance on whether such deposit or withdrawal may be made and the method of deposit or withdrawal (including visiting the Support Center).
The Company shall specify the minimum amount of Digital Assets on its website or service, and the Member shall verify the minimum amount of Digital Assets before the deposit and withdrawal of Digital Assets. If a Member deposits Digital Assets (hereinafter, "A") less than the minimum amount of deposit, the Company will approve the deposit of digital assets (the sum of "A" and "B," “B” as defined below) deposited by the Member at the time the Member deposits Digital Assets more than the minimum amount of deposit (hereinafter, "B") to the same wallet address. However, UTXO-based Digital Assets (which refer to Digital Assets that use a method of managing the balance by the transmission record unit; please refer to the user guide for details) deposited below the minimum amount of deposit may be approved for each monthly settlement cycle.
With regard to entity Members, specific matters other than those stipulated in these Terms of Use are stipulated in the “Supplementary Terms of Use for Upbit Entity Members.
When a Member places a buy order and/or sell order in the BTC market or USDT market, the order may be executed through the cross trading service.

Article 16 (Service Fee)

If a Member uses the Services provided by the Company, including the Service of trading Digital Assets and the Service of depositing and withdrawing Digital Assets, the Member shall pay corresponding fees. The calculation criteria for Service fees are specified on the Company’s website or within the Service.
If digital asset deposit approval is rejected pursuant to relevant laws or these Terms of Use and a return (withdrawal) fee is incurred to return the digital asset, the Member shall bear the fee.
The Company may determine Service fees in consultation with the Member under certain circumstances.

Article 17 (Restrictions on Use, etc.)

In any of the following, the Company may restrict the Member’s buy and/or sell orders:
1. In connection with a Member's exchange of "USDT", a Member's financial company account or the Company's financial company account is suspended under the Special Act on the Prevention of Damage and Refund of Damage to Telecommunications Fraud, or where a hacking or fraud accident has occurred or is reasonably suspected to have occurred (including, but not limited to, access to the Service through a remote app)
2. If a Member's account is involved in, or is reasonably suspected to be involved in, fraudulent activity, such as identity theft
3. If a governmental agency requests the restriction of Services according to the relevant statutes
4. If an investigation agency requests for restrictions on transactions and/or deposit, withdrawal
5. If the user having applied as a Member has been confirmed to be a minor, a non-resident or a foreign corporation or falls into Article 5, Paragraph 2, Subparagraph 8, 9, 10, 11, and 12
6. If it is confirmed that a person or corporation other than the account holder is using the account
7. If the Member does not fulfill the certain cooperation obligations prescribed in Article 10, Paragraph 3
8. If the Member and USDT and Digital Assets in Member’s account is subject to a debtor and a executed property respectively by execution of order of seizure, order of disposal, additional collection and any other similar orders by court or investigation agency
9. If other Member’s USDT or Digital Asset are exposed in the Member’s account due to server error, disruption etc.
10. If the Member or Member’s account is or is reasonably suspected to be involved in market manipulation, money laundering, unfair trade, or criminal activity, etc. (including if known through an Anti-Money Laundering solution and in accordance with the Company's internally established monitoring system but not limited to those cases)
11. If a Member is in a position to use undisclosed material information (information that can significantly affect an investor's investment judgment but has not been made public for unspecified individuals to know) regarding a particular Digital Asset, (such as where a Member is an employee, in a special relationship under the Commercial Act, or an agent of the Digital Asset issuer(including but not limited to persons, corporations, and other organizations), or a Member has concluded a contract with the Digital Asset issuer) and it is necessary to take measures to restrict the trading of the Digital Asset to prevent unfair trading
12. If it is necessary to comply with relevant laws and regulations, legal or de facto administrative orders, commands, recommendations or guidance from relevant laws and regulations, financial supervisory authorities, tax authorities or other government agencies
13. If a Member attempts to use the Service with the Member’s account while staying in any of the FATF high-risk countries or sanctioned countries designated by the United Nations, the United States, or the EU (hereinafter, collectively with FATF high-risk countries, the "Sanctioned Countries") or if the IP address attempting to use the Service with a Member's account is the IP address of any of the Sanctioned Countries (except where the use restriction exception is made pursuant to Paragraph 11 of this Article)
14. If the IP address attempting to use the Service with a Member's account is not confirmed to be from a certain country (excluding cases where the actual place of residence is proven through the Customer Center)
15. When making a deposit to trade Digital Assets on behalf of another person, such as a purchase agent
16. When it is difficult for the Company to check the actual IP of the Member, such as using VPN
17. When it is reasonably suspected that the account is used for crime (voice phising etc.) such as where digital assets equivalent to the deposit amount are requested to be withdrawn within 72 hours after the deposit of USDT
18. When Digital Assets that do not comply with the travel rules under the Certain Financial Information Act are deposited to the Digital Asset deposit address issued by the Member
19. If customer verification is not completed (including cases where customer verification is not completed within the deadline despite receiving a request from the Company to re-perform customer verification)
20. If a reason equivalent to each subparagraph occurs or measures are necessary to prevent the occurrence of such a reason
The Company may take one or more of the following measures to restrict login, deposit, or withdrawal for Member accounts if any of the following subparagraphs occur:
1. If the deposit or withdrawal of a Member's Virtual Assets cannot be carried out normally due to any of the following reasons
  (a) Where a computer failure occurs in the virtual asset information system (referring to an information system for virtual asset transactions and a network that issues and manages Virtual Assets; hereinafter the same shall apply) or it is impossible to use the virtual asset information system, such as due to maintenance and inspection
  (b) Where a computer failure occurs in the information and communication network for virtual asset transactions or the use of the information and communication network is impossible, such as due to maintenance and inspection of the information and communication network
  (c) Where a management agency or a financial company that has established a real-name verification account pursuant to Article 7, Paragraph 3, Sub-paragraph 2 of the Certain Financial Information Act has a computer failure in the information and communication network, or it is impossible to use the information and communication network, such as due to repairing or inspection of the information and communication network
  (d) Where the other party of the Member’s virtual asset transaction cannot normally deposit or withdraw Virtual Assets due to a computer failure in the virtual asset information system used by the other party
  (e) Where the Company proceeds with the procedure of terminating transaction support for the relevant Virtual Asset (meaning no longer performing the act of buying or selling or exchanging a specific Virtual Asset or the act of mediating, arranging, or acting as an agent for the buying or selling or exchanging of a specific Virtual Asset; hereinafter the same shall apply) (applies only to cases where deposits related to the relevant Virtual Assets are blocked)
  (f) Where the Company performs due diligence comparing the current status of Virtual Assets that it actually keeps with those entrusted by its Members
  (g) Where the Company proceeds with the procedure of terminating business or closure of business pursuant to Article 2, Paragraph 2 of the Virtual Asset User Protection Act due to reasons such as ex officio cancellation pursuant to Article 7, Paragraph 4 of the Certain Financial Information Act, or compliance with an order to suspend business pursuant to Article 7, Paragraph 5 of the Certain Financial Information Act (applies only to cases where deposits related to Virtual Assets are blocked)
2. If an accident under Article 12 of the Enforcement Decree of the Virtual Asset User Protection Act has occurred or is clearly expected to occur for the following persons, and there is an urgent need to block deposits or withdrawals of Virtual Assets for the protection and security of users
  (a) Virtual asset business operator
  (b) Issuer of Virtual Assets
3. If the deposit or withdrawal of Virtual Assets is blocked at the request, order, etc. of an administrative agency pursuant to relevant statutes, such as the Virtual Asset User Protection Act, the National Tax Collection Act, and the Certain Financial Information Act
4. If it is necessary to block the deposit or withdrawal of Virtual Assets in order to comply with relevant statutes, such as Articles 5, 5-2, 5-3, and 8 of the Certain Financial Information Act
5. If it is necessary to block withdrawal of Virtual Assets within 72 hours (when depositing the initial deposit, all virtual asset withdrawals are restricted for 72 hours, and when depositing additional deposits, withdrawals of virtual assets equivalent to the deposit are restricted for 24 hours) from the time Virtual Assets are deposited (including when a deposit has been deposited) in order to prevent telecommunications financial fraud and refund damages to victims of telecommunications financial fraud under Article 2, sub-paragraph 2 of the Special Act on the Prevention of Damage to Telecommunications Financial Fraud and Refund of Damages
6. If there is a reasonable reason to suspect that a Virtual Asset transaction is related to illegal property, money laundering and public intimidation financing under Article 2, sub-paragraphs 4 through 6 of the Certain Financial Information Act in order to prevent criminal acts such as money laundering, etc. (The period of blocking deposits or withdrawals shall be the minimum period necessary within the range of two months, but in case of unavoidable circumstances, the period may be extended up to two times)
7. If there are other cases where it is necessary to block deposits or withdrawals of Virtual Assets in order to protect users and establish a transparent and sound transaction order in the virtual asset market, and where the Financial Services Commission determines and publicly notifies them
8. In accordance with other relevant laws and regulations, such as the Virtual Asset User Protection Act, if it is clear that the Company has the right or obligation to take one or more measures to restrict login, deposit, or withdrawal of Member accounts
9. In cases falling under each of the subparagraphs of Paragraph 1 of this Article (Excluding cases where the restriction on use under this subparagraph violates Article 11 of the Virtual Asset User Protection Act and Article 17 of the Enforcement Decree of the same Act on the prohibition and permission of the blocking of deposits and withdrawals of virtual assets. To clarify, in accordance with relevant laws and regulations, cases where it is clear that the Company has the right or obligation to take measures under Paragraph 1 of this Article shall not be deemed illegal)
The Company may issue warnings or cautions to Members, rejects trading orders submitted through the Service, or place restrictions on trading order amounts and other trading order conditions if there is any of the following reasons of subparagraph or if it is necessary to prevent damage due to such reasons to the Member.
1. If any of the cases falls under each subparagraph of Article 5, Paragraph 2
2. If any of the cases falls under each subparagraph of Article 10, Paragraph 1
3. If any of the cases falls under each subparagraph of Paragraph 1 or Paragraph 2 of this Article
If any of the following applies, a Member's customer verification may be restricted.
1. If any of the cases falls under subparagraph 5 of Paragraph 1 of this Article
2. If an attempt is made to use the Service with a Member's account while staying in a Risky Country or a Sanctioned Country, or the IP address attempting to use the Service with a Member's account is the IP address of a Risky Country or a Sanctioned Country (except where an exception to the restriction of use is made pursuant to Paragraph 11 of this Article)
3. If the IP address attempting to use the Service with a Member's account is not confirmed to be from a certain country (excluding cases where the actual place of residence is proven through the Customer Center)
The Company may set specific conditions and details of the restrictions within the scope of this Article in the User's Guide.
If the Company limits the use of the Services under this Article, the Company shall notify the Member in the way prescribed by Article 19 below.
A Member may raise an objection to the limitation on the use of the Services under this Article through the Upbit customer center. If the Company considers such reason for objection is justified or if it is clearly confirmed by objective data, the Company shall immediately resume the use of the Services.
The Company may request an explanation or additional documents regarding the Member’s source of funds in order to determine whether the Member’s case falls under the reason for limitation.
If other Member’s USDT or Digital Asset is exposed in the Member’s account due to server, data processing or any other related error, the Company may take the necessary action such as recollecting the USDT or Digital Asset, restoration to original condition, correction of display, etc. The Company shall give notices to the Member of the reason and details of the action within 5 business days after taking the necessary action by the method prescribed in Article 19, Paragraph 1.
If the use of Services is restricted according to this Article, open orders or pending withdrawal requests may be canceled for the protection of the Member's assets.
If a Member has unavoidable circumstances to use the Service while staying in a Risk Country or a Sanctioned Country, the Member may apply for the exception of use restrictions pursuant to subparagraph 13 of Paragraph 1 or subparagraph 2 of Paragraph 4 of this Article through the Customer Center. In this case, the Company may request the Member to explain the length of stay and reasons in order to determine whether handling exceptions is reasonable.
If a Member’s right to claim the return of Virtual Assets, right to claim the withdrawal of deposits, or any other similar right is subject to an attachment, provisional attachment, provisional disposition or any other similar decision or order of a court, or if the Company receives a lawful request pursuant to applicable laws and regulations from a court, enforcement officer or other competent authority, the Company may, to the extent required by such decision, order or request, take measures necessary for compulsory execution, including restricting transactions, deposits or withdrawals, cancelling open orders, assigning the right to claim the return of Virtual Assets, transferring the Virtual Assets subject to such right, selling or exchanging such Virtual Assets, and delivering the proceeds from such sale.

Article 18 (Termination of Agreement)

The Member may apply for the termination of the user agreement through the information management menu or the customer center within the Services at any time, and the Company shall immediately process such application in accordance with relevant statutes. However, the exercise of the right to terminate may be restricted for Members who are restricted from using the Service under Article 17 of these Terms of Use.
Notwithstanding the preceding paragraph, there is no restriction on the exercise of the Members' right to terminate under the law.
The Company may designate a period to restrict the use of the Service and make a correction (clarification) request if circumstances stipulated below occur to a Member. The user agreement may be terminated if the correction (clarification) is not made in a reasonable period of time or the same violation occurs repeatedly for two (2) or more times after the correction (clarification) request has been made. However, if it falls under subparagraph 5 of this paragraph or if the reason occurred to the Member cannot be corrected objectively, the Company may terminate of the user agreement by notifying the Member in advance.
1. In the case of violating the obligations of Members prescribed in Article 10 of these Terms of Use or falling under the grounds for restriction of use prescribed in Article 17
2. If a Member violates relevant statutes, which includes providing illegal programs and disrupting the operation of the Services in violation of copyright laws, or illegally communicating, being engaged in hacking, distributing malicious programs, and violating access right to the Services in violation of the Act concerning Promotion of Utilization of Information and Communications Networks and Protection of Information, etc.
3. If a Member commits an act of disrupting the smooth process of the Services or attempts to do so
4. If the reason for refusal of acceptance of membership application under Article 5, Paragraph 2, each subparagraph of these Terms of Use is confirmed after membership registration
5. If, while in a state where no cellphone self-verification information is available, a period of one (1) year has passed since the Member used the Service, and a further period of 180 days has passed since that point
6. If there is a reason that this contract cannot be maintained due to any other reasons equivalent to the items set above
When the user agreement is terminated in accordance with the preceding paragraph, all benefits provided free of charge within the Service will be extinguished, and the Company will not compensate for this.
If the Company terminates the user agreement under this Article, the Company shall give notices to the Member in the method prescribed under Article 19 below.
Upon completion of termination of the user agreement, all of a Member’s information shall be deleted, except for the one that the Company shall retain in accordance with relevant statutes and its Privacy Policy.
Notwithstanding Paragraph 5 above, if the Company terminates the user agreement in accordance with Paragraph 2 of this Article, the Company may retain the Member’s information for a certain period of time for the purpose of accepting and processing objections filed by the Member, and if such a period lapses, shall delete the Member’s information, except for the details related to his/her/its sales and purchases of Digital Assets.

Article 19 (Notice to Member)

Unless otherwise provided herein, the Company may notify by e-mail, electronic memo, in-service message, text message (LMS/SMS), telephone, app push, notification talk, etc.
If the Company notifies all Members, it can be substituted for the notice in the preceding paragraph by posting announcement on the bulletin board within the Services or presenting a pop-up screen for at least thirty (30) days, unless otherwise provided herein.
If the contents of the notice to all Members fall under any of the following subparagraphs, the notice shall be individually notified by the method of Paragraph 1 of this Article by clearly displaying the contents of the notice so that Members can fully understand the contents along with the announcement by the method of Paragraph 2 of this Article.
1. Content unfavorable to the Member
2. Important information that affects the rights or obligations of the Member
If it is unavoidable for the performance obligations set forth in Article 9, Paragraph 4, or if there is an unavoidable reason for being unable to notify in advance, such as when the e-mail address, contact information, etc. registered by a Member is in a status of being unable to receive the notification, the Company may shorten the period or notify ex post facto, notwithstanding Paragraphs 1 to 3 of this Article. Provided that, if contact information and address for notification do not themselves exist, notification may be omitted.
When the Company notifies in accordance with Paragraph 1, it shall be presumed that it has reached the Member when the normal mailing period has passed, and if the Member has not notified the change in accordance with Paragraph 6 of this Article, it shall be considered that the Company’s notification has reached the Member if notified to the contact information before the change and the normal mailing period has passed.
In the event of changes in the address, phone number, e-mail address, etc. notified to the Company by the Member, the Company shall be notified of the changes in accordance with Article 6 of these Terms of Use.
Notwithstanding the preceding Paragraph 6, if the Company blocks the deposit or withdrawal of a Member's Virtual Assets, it may notify the Member individually or collectively (or announce) the reason for blocking the deposit or withdrawal, as prescribed in the following subparagraphs:
1. In principle, Members are notified individually in advance of specific reasons for blocking deposits and withdrawals. However, in consideration of the reasons for blocking deposits and withdrawals, methods such as collective notification (or announcement) may be used exceptionally to the minimum extent necessary, and even in this case, Members shall be made fully aware of it.
2. In cases where the reasons for blocking deposits and withdrawals cannot be foreseen in advance and advance notice is not possible due to urgent measures or compliance with legal obligations (in the event of a computer failure, an accident under Article 12 of the Enforcement Decree of the Virtual Asset User Protection Act, refusal to provide customer verification information, etc.), individual or bulk notifications may be made at the same time as the blocking.
3. In cases where an investigative agency requests a suspension of notification by sending an official document requesting a blocking of deposits and withdrawals in relation to a case under investigation (Article 17, Paragraphs 3 and 6 of the Enforcement Decree of the Virtual Asset User Protection Act), notification to Members may be suspended only upon request by investigative agencies, the National Tax Service, etc. In addition, in the case of Article 17, Paragraph 6 of the Enforcement Decree, the suspension period may be extended up to two times if there is an unavoidable reason.

Article 20 (Limitation on Liability)

The Company or a Member is liable for the compensation of damages if there are damages to the other party from violating these Terms of Use. Provided, this is not applicable to circumstances where there is no intentional or negligent act on the part of the actor.
When there are damages to the Member that have occurred for the reasons stipulated below, the Company shall not be liable for the damages caused if the Company can prove that it has done its fiduciary duty to prevent damages to the Member.
1. If it is due to unavoidable circumstances including war, armed conflict, natural disaster, or another national crisis equivalent to the foregoing
2. If it is due to the compliance with a de facto or legal administrative measure and order from a government agency
3. If it is due to a service disruption of a telecommunication service company that includes key telecommunications business operators according to the Telecommunications Business Act
4. If the Service disruption has occurred due to a defect of a subcontractor system or reasons attributable to the Member that is outside of the Company’s control
5. If the Service disruption has occurred due to momentary increases for homepage access or flooding of orders for certain items
6. If it is due to the disruption or error in the trading system, deposit and withdrawal system, or the network of each Digital Asset (i.e., Bitcoin network) within the Service
The "necessary fiduciary duty" (in paragraph 2 of this Article) includes the following items:
1. Appointment and management of the information security officer
2. Information security training
3. Protective measures for the computer center (installation location for computer equipment and telecommunications / security equipment that stores important information or is necessary for Digital Asset trades, which is the essential task for the Company), facilities within the building where the computer center is located in, information security systems (equipment and programs that protect the information from activities that hinder the proper Service of information processing systems or leaking, forging / falsifying, and damaging the information within the information processing system), protection measures for information processing systems (hardware, software and related equipment used in the information technology sector, including Digital Asset transactions)
4. Encryption key (private key needed for signing, to prove the disposal rights for Digital Assets) management methods
5. Establishing countermeasures for information security accidents
6. Regular inspections for information security measures and information security accident countermeasures
7. Other items designated to be compliance-necessary for Digital Asset handling businesses by statutes relevant to information security

Article 21 (Payments)

The prices of Paid Contents shall be the same as indicated on shops within the Services. However, the estimated price at the time of purchase may differ from the actually charged price due to exchange rates and contingent fees imposed upon settlement of foreign exchange transactions.
The Member shall make payments in accordance with policies and methods that are prescribed by Open Market Operator or Payment Service Providers.
The ceiling on payments may be adjusted according to the policies of the Company, Open Market Operator and Payment Service Providers, and the government’s policy.

Article 22 (Withdrawal of Offers)

The Paid Content purchased by a Member is classified into the Content whose offer can be withdrawn and the Content whose offer may not be withdrawn. The Member may withdraw their offer on the Content whose offer can be withdrawn within seven (7) days after the purchase of such content. However, the Member may be restricted from withdrawing their offer on the Content for which seven (7) days have passed after the purchase of such content or on the content which is subject to events for limiting the withdrawal of offers, such as where the value of used content, goods, etc. has decreased significantly, or it falls under the reason for limiting withdrawal of offers stipulated by relevant statutes, such as the Act on the Consumer Protection in Electronic Commerce, etc. The Company shall indicate the fact that withdrawal of offers is restricted for the Content for which the withdrawal of offers is restricted, or provide the Content that can be tested.
A Member may not withdraw their offer on the Content which is not directly purchased by him/her/it, including the free or Paid Content made available by the Company to the Member for free, and the Paid Content gifted to the Member, etc.

Article 23 (Effects of Withdrawal of Offers)

If the Company receives an application for the withdrawal of offer from the Member, the Company shall refund the purchase price of Paid Content within three (3) business days (if the confirmation of the receipt is required, within three (3) days after the receipt date), except for the Content that cannot be withdrawn as stipulated by Article 22, Paragraph 1 above. If the Company delays the refund, it shall pay the interest that is calculated by multiplying the refund amount by the interest rate as specified by the Act on the Consumer Protection in Electronic Commerce, etc., for a period during which the refund has been delayed.

Article 24 (Refund for Overpayments)

The Company shall refund a Member’s overpayment. In principle, a Member shall apply to Open Market Operator for a refund of the overpayment that Member has made during the payment process. However, if Open Market Operator is able to assist in the processing of the refund according to its policy and system, the Company may request Open Market Operator to take a required refund procedure.
In principle, the refund shall be made in the same method as the payment initially made by the Member. However, if it is not possible, the refund may be made in any other methods.
If the overpayment is made due to reasons attributable to a Member, the Member shall bear a refund fee and other costs.
The refund shall exclude any charge incurred by using application download or network Services, such as call charge and data communication charge.

Article 25 (Refund for Paid Content)

The Member may receive a refund for Paid Content through the customer center in any of the following:
1. If there is no Service available for the Paid Content purchased by the Member, which is the Company’s sole responsibility
2. In cases as otherwise specified by the Company to protect customers
A Member who/that desires to receive a refund for Paid Content shall apply for the refund in the procedure prescribed by the Company, and the Company shall evaluate whether the application for the refund is appropriate.
If the Company decides to refund a Member's request for a refund, the Company shall refund the balance of the Paid Content purchased by the Member.
No refund shall be made for the content that is not paid by Member, including those provided by the Company to a Member for free or the content received free of charge by a third party and gifted to a Member.

Article 26 (Governing Law and Jurisdiction)

Disputes that arise between the Company and a Member shall be governed by laws of the Republic of Korea.
Disputes that arise between the Company and a Member shall be brought to the jurisdiction of the court agreed upon by both parties. If an agreement cannot be made, it shall be brought to the jurisdiction of the court according to the Civil Procedure Code.

<Supplementary Provisions>

These Terms of Use shall take effect on October 1st, 2026.
Previous Terms of Use are listed below.

<Supplementary Terms>

※ This English version of the Upbit Terms of Use is a translation based on the original Korean version of the Upbit Terms of Use. If there is any conflict between the original Korean version and this English version, the original Korean version of the Upbit Terms of Use shall prevail.