Many stores are feeling the effects as an increasing number of consumers are opting to shop online. Stores are responding to this challenge by setting up internet 'cybermalls'. In January 2000 the Korea Fair Trade Commission approved the Standard Agreement on Internet Cybermall Transactions.

According to the agreement:

  • the trading name, office location, representative's name, contact information, business registration number and details of the agreement must appear on the cybermall's homepage;
  • if the agreement is revised, the cybermall must post a notice stating the date of implementation of the revised agreement (and the reason for revision) on its homepage seven days before implementation;
  • a purchase will be deemed to have been made at the moment when the customer receives a message from the mall manager confirming his or her order;
  • if, after receiving the confirmation message, the customer finds that the ordered product is not what he or she wanted, cancellation or exchange of the product may be immediately requested;
  • the cybermall is liable for suspension or interruption of its services due to repair or modification work;
  • the cybermall must specify, among other things, the method and length of time for delivery of products, and to whom delivery costs are chargeable. The mall is liable if it delays the delivery of products beyond the period specified (whether intentionally or through negligence);
  • the customer can seek a refund, return or exchange for goods bought online within 20 days of delivery if they differ to representations made on the web site or are damaged;
  • the cybermall may use customer information for limited purposes. The mall must obtain the customer's consent for the use of his or her information, including information that will reveal his/her personal identity; and
  • the customer cannot use any copyrighted material gained from the cybermall with the intention of making a profit without the cybermall's consent, nor allow a third party to do the same.

For further information on this topic please contact Beom Gyu Seong, Bong Hee Han, Andrew Ryu or Jung Wook Cho at Woo, Yun, Kang, Jeong & Han by telephone (+82 2528 5200) or by fax (+82 2528 5228) or by e-mail ([email protected], [email protected], [email protected] or [email protected]).

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