Article 1. Purpose The purpose of these General Terms and Conditions is to set forth the basic terms and conditions for electronic financial transactions between Korea Exchange Bank (hereinafter, the "Bank") and its Customers so that fast and efficient processing of the transactions may be promoted and the interests of the parties to the transactions are reasonably adjusted. Article 2. Definitions of Terms The terms used in these General Terms and Conditions shall be defined as follows: 1. "Customer" shall mean the user of the Electronic Financial Transactions. 2. "Electronic Financial Transaction(s)" shall mean inquiry, deposit, withdrawal, transfer services, etc., and such other transactions that are offered by the Bank through Electronic Means and are directly used by the Customers. 3. "Electronic Means" shall mean cash dispensers, ATM's (Automatic Teller Machines), computers, telephones, debit card terminals and other electronic devices used for processing the Electronic Financial Transactions. 4. "Transaction Request" shall mean the request by which the Customer asks the Bank to process an individual Electronic Financial Transaction pursuant to an agreement of Electronic Financial Transactions. 5. "Payer" shall mean the holder of the account from which funds will be withdrawn (hereinafter, the "Withdrawal Account") in an Electronic Financial Transaction. 6. "Recipient" shall mean the holder of the account into which funds will be deposited (hereinafter, the "Deposit Account") in an Electronic Financial Transaction. 7. "Transfer Services" shall mean the transactions whereby the Bank withdraws funds from a specified account and transfers them to another account opened at the same bank or another bank pursuant to the Transaction Request made by the Payer. 8. "Reserved Transfer Services" shall mean the transactions whereby the Customer makes a Transaction Request in advance designating a future date as the date on which Transfer Services are to take place, and the Bank executes the requested Transfer Services on such date. 9. "Remittance Services" shall mean the transactions whereby the Customer makes a deposit of funds into his/her own account or another's account through an ATM. 10. "Business Day" shall mean days on which the Banks are open for normal business operation at its business places. 11. "Means of Access" shall mean cards, certifications, passwords, user numbers and others which are necessary to make a Transaction Request through the method of Electronic Financial Transactions. Article 3. Applicable Transactions These General Terms and Conditions shall apply to the following Electronic Financial Transactions between the Bank and the Customer: 1. Transactions using cash dispensers or ATM's; 2. Transactions using computers; 3. Transactions using telephones; 4. Transactions using debit card terminals; and 5. Transactions using other electronic media. Article 4. Execution of Agreements for Transactions The Customer shall enter into a separate agreement for transactions with the Bank before he/she could use the Electronic Financial Transactions, except in the following cases: 1. Simple inquiries (e.g., account balances, records of deposits and withdrawals made, etc.) 2. Simple transactions which are processed with payment of service fees; 3. Transactions using cash dispensers or ATM's; and 4. Other transactions designated by the Bank. Article 5. Service Hours (1) The Customer may use the Electronic Financial Transactions during the service hours set by the Bank. (2) The service hours may be subject to change depending on the circumstances of the Bank. If the Bank wishes to change the service hours, it shall post such changes three (3) Business Days in advance both at its business places and over Electronic Means which are amenable to posting of notice, except in the cases of inevitable circumstances, such as system recovery, urgent program repair works, external causes, etc. Article 6. Ceiling Amount for Transfer Services The Customer shall set his/her own ceiling amount for Transfer Services within the maximum limit set by the Bank and in accordance with the method designated by the Bank. Article 7. Registration of Passwords In case the Customer registers his/her password directly via Electronic Means after entering into an agreement for transactions, such registration shall be made within three (3) Business Days from the date of the agreement for transactions, inclusive of the transaction agreement date. Article 8. Formation of Transactions When the Customer wishes to use Electronic Financial Transactions, the transactions shall be formed at the following point in time: 1. In case of Transfer Services, at the time when the Bank confirms the contents of the Transaction Request entered by the Customer and records the withdrawing of the "withdrawal amount" (this term hereinafter shall include service fees, if any) on the ledger of the Withdrawal Account; 2. In case of cash withdrawals, at the time when the Bank confirms the contents of the Transaction Request entered by the Customer and records the withdrawing of the "withdrawal amount" on the ledger of the Withdrawal Account; 3. In case of Remittance Services, at the time when the Bank confirms both the contents of the Transaction Request entered by the Customer and the amount to be deposited; and 4. In case of Reserved Transfer Services, at the time when the Bank confirms the contents of the Transaction Request made by the Customer, subject to the condition that the Withdrawal Account shall have sufficient funds available at the time of execution of the requested Transfer Services. Article 9. Criteria for Processing the Transaction Requests (1) The Bank shall process a Transaction Request upon verification of the identify of the account number, password, user number, etc. stated on the Transaction Request against those reported to the Bank. (2) When the Bank withdraws funds from the Withdrawal Account pursuant to the Transaction Request of the Customer, the Bank may effect such withdrawal without utilizing passbooks, withdrawal request forms or checks, notwithstanding the provisions of the General Terms and Conditions of Deposit Transactions. (3) In case of transactions where the Recipients cannot be confirmed due to the nature of the requested transactions, such as batch Transfer Services and Transfer Services to accounts opened at another bank, etc., the requested transactions shall be processed on the basis of the account numbers of the Recipients. (4) Transfer Services to accounts opened at another bank shall be processed on a same-day basis, provided that in the event the same-day processing is not possible, the requested transactions shall be processed in accordance with Paragraph 4 of Article 20. (5) In case of Reserved Transfer Services, the requested transactions shall be processed only if the Withdrawal Account has sufficient funds to cover the amount requested by the Customer on the Transaction Request at the time of execution of the requested transactions. (6) In case of Reserved Transfer Services, if the requested transfer date falls on a Bank's holiday, then the requested transactions shall be processed on the following Business Day. Article 10. Restrictions on Transactions (1) In any of the following cases, the Electronic Financial Transactions requested on the Transaction Request may be restricted: 1. In case the balance of the Withdrawal Account is less than the withdrawal amount at the time of execution of the Electronic Financial Transaction, provided, however, that if there are other provisions under individual terms and conditions for the Electronic Financial Transactions, then such other provisions shall apply; 2. In case the Deposit/Withdrawal Accounts are closed or suspended; 3. In case a certificate of balance is issued for the Deposit/Withdrawal Accounts on the requested transfer date; 4. In case the amount requested for Transfer Services on the Transfer Request exceeds the ceiling amount set by the Customer; 5. In case the Transfer Request requests Transfer Services to be made to an account other than the designated Deposit Account, when the Customer has agreed to use only the designated Deposit Accounts for Transfer Services; and 6. In case the Bank determines that provision of services may not be appropriate for reasons of legal restraints placed on withdrawal, etc. (2) In any of the following cases, all of Transfer Services conducted via applicable Electronic Means may be restricted: 1. In case the certification has expired or is canceled; or 2. In case no Transfer Services have been used for six (6) months or more by the Customer who has been a user of the Electronic Financial Transactions using computer or telephone. (3) In the event that the Electronic Financial Transactions are restricted pursuant to the foregoing Paragraphs (1) and (2), the Bank shall notify the Customer of the reasons therefor over the same Electronic Means upon receipt of a Transaction Request of the Customer. (4) In case of the foregoing Paragraph (2), the Customer may resume the Electronic Financial Transactions by taking appropriate steps, such as re-issuance or extension of the certification required by the Bank or expression of intent to use, etc. Article 11. Completion of Transactions (1) For Transfer Services and Remittance Services, the requested transactions shall be completed upon recording of the deposit on the ledger of the Recipient's account. (2) For cash withdrawals, the transactions shall be completed upon provision of cash to the Customer. Article 12. Service Fees (1) The Bank may collect service fees for Electronic Financial Transactions either by withdrawing the fees from the Customer's account or by receiving cash directly from the Customer. The payment method of the service fees shall be determined in accordance with the individual terms and conditions. (2) Service fees shall be determined in accordance with the Bank's method of calculating the service fees. In the event the Bank wishes to change the service fees, it shall post the proposed changes at its business places and over Electronic Means which are amenable to posting of notice for one (1) month starting from one (1) week prior to the effective date of the changes. Article 13. Revocation or Modification of the Transaction Requests (1) Once transactions are formed pursuant to Article 8, the transactions may not be revoked or modified, provided that Reserved Transfer Services may be revoked if a revocation of the Transaction Request is made via applicable Electronic Means by one Business Day immediately preceding the requested transfer date. (2) When the Withdrawal Account is closed at the request of the Customer, any Transaction Request for Reserved Transfer Services registered with such Account shall also be terminated. (3) Neither death or adjudication of quasi-incompetency or incompetency of the Customer nor dissolution, bankruptcy or merger of the Customer or the Bank by itself will have the effect of revoking or modifying the Transaction Requests or affect the powers of the Bank. Article 14. Amendment of Reported Items (1) If the Customer wishes to make changes to any of the items reported to the Bank, such as the account number, password, user number, company name, address, telephone number, etc., the Customer shall report to the Bank on such changes in accordance with the provisions of the individual terms and conditions for Electronic Financial Transactions. (2) The amendments to the reported items shall take effect upon passage of reasonable time required for computer entry after receipt of the report under the foregoing Paragraph (1). Article 15. Termination of the Agreement for Transactions If the Customer wishes to terminate the agreement for Electronic Financial Transactions, he/she shall file an application for termination with the Bank either in writing or via applicable Electronic Means in accordance with the provisions of individual terms and conditions for Electronic Financial Transactions. Article 16. Verification of the Transaction Results (1) The Customer shall verify whether the Transaction Request and the processing results mentioned in Paragraph 1 of Article 21 correspond to each other. (2) Upon the Customer's learning of any discrepancies between the Transaction Request and the Bank's processing results, he/she shall immediately notify the Bank of such fact, and the Bank shall take necessary measures, such as tracking down the funds or putting holds on withdrawals, etc. Article 17. Handling of Errors (1) When the Bank learns that the Electronic Financial Transaction was processed differently from the Transaction Request, it shall effect appropriate corrections to the processed transaction to make it conform to the Transaction Request. (2) The Bank shall notify the Customer of such corrections made under the foregoing Paragraph (1). Article 18. Recording of the Transactions In order to ensure accuracy of transactions, the Bank may record the telephone communications of transactions between the Customer and the Bank's employees, provided that such recording shall be used only as evidence for the relevant transaction in the event of a dispute, in which case the Customer may request disclosure of the contents of the recording. Article 19. Maintenance of Transaction Records and Provision of Data, etc. (1) The Bank shall keep and maintain transaction records of the deposits and withdrawals made in Electronic Financial Transactions for five (5) years. (2) At the request of the Customer, the Bank shall provide the Customer with relevant records and data maintained and managed by it concerning the Electronic Financial Transactions to the extent that it does not violate the "Act on Real Name Financial Transactions and Guarantee of Secrecy" and any other laws and regulations. Article 20. Handling at the Time of Accident or Impediment (1) When the Customer learns of the theft, loss, forgery or alteration of the Means of Access to the transaction accounts or leakage of other information which is required to be kept confidential for the purpose of transactions, he/she shall promptly notify the Bank of such fact. (2) The reporting made under the foregoing Paragraph (1) shall take effect upon passage of reasonable time required for computer entry after receipt of the report. (3) In the event that the reporting made under the foregoing Paragraph (1) is to be revoked, the Customer himself/herself shall file a written application therefor with the Bank. (4) In the event that the Electronic Financial Transactions cannot be processed as requested on the Transaction Request because of telecommunications impediment or other causes, the Bank shall deposit the money back to the Withdrawal Account and notify the Customer of such fact to the reported contact point of the Customer. (5) At the request of the Customer, the Bank shall promptly investigate the reasons for any accidents or impediments, and shall notify the Customer of the results of the investigation. Article 21. Method and Effect of Notice (1) The Bank shall promptly notify the Customer of the processing results of Article 11 via the relevant Electronic Means, provided that in case of Transfer Services to accounts opened at another bank or Reserved Transfer Services, the Bank shall promptly notify the acceptance results thereof over the relevant Electronic Means. (2) In notifying matters in the process of Electronic Financial Transactions under Paragraph 2 of Article 17 and Paragraphs 4 and 5 of Article 20, the Bank shall provide notice either by phone, in writing or via other Electronic Means to the contact point reported by the Customer. (3) When the Bank provides a notice in writing, it shall be deemed delivered upon passage of normal time required for such delivery, except in cases of acts of God and other force majeure events. (4) In the event that the written notice sent by the Bank under the foregoing Paragraph (3) does not reach or is delayed in reaching the Customer due to the Customer's negligence in notifying any changes pursuant to Article 14, the notice shall be deemed delivered upon passage of normal time required for such delivery. Article 22. Management of the Means of Access (1) The Customer shall not lend, entrust or assign to a third party the Means of Access necessary for the Electronic Financial Transactions. (2) The Customer shall not disclose the Means of Access to a third party, and shall take good care in safeguarding the Means of Access to prevent stealing, forgery or alteration of the same. Article 23. Risk of Loss and Immunity (1) In case of a wrongful transfer which has been effected after passage of reasonable time required for computer entry after receipt of the reporting from the Customer under Article 20, the Bank shall be liable for such wrongful transfer amount together with interests accrued thereon calculated at the rate of a one-year time deposit, provided that if the amount of the damage caused to the account concerned by such wrongful transfer exceeds the amount calculated at the rate of a one-year time deposit, then the Bank shall compensate the actual damage amount. (2) In case of the Electronic Financial Transactions which have been processed pursuant to the Transaction Request upon verification of the account number, password, user number, etc. stated on the Transfer Request against those reported to the Bank, the Bank shall not be liable for any damages suffered by the Customer for reasons of forgery, alteration or other accidents not attributable to the Bank, provided that such shall not be the case if the accident has occurred in the course of transmission of the Transaction Request, not caused by intentional or negligent conduct of the Customer. (3) In the event that the Electronic Financial Transaction requested by the Customer cannot be executed or is delayed by reasons of acts of God and power failure, fire, telecommunications impediment or other force majeure events which are not attributable to the Bank, and the Bank notifies the Customer of the reasons for such non-processing or delayed processing, the Bank shall not be liable therefor. (4) The Bank shall not be held liable for damages caused by the Customer's delay in making the reports required under Paragraph 1 of Article 20. (5) The Bank shall not be liable for damages caused by the Customer's failure to verify or notify pursuant to Article 16, provided that such shall not be the case if the Bank has processed the requested transactions differently from the Transfer Request made by the Customer. (6) In case of notices prescribed by the foregoing Paragraph (3) and Paragraph 2 of Article 21, if the Bank fails to provide a notice for reasons not attributable to the Bank, the Bank shall not be held liable for damages suffered by the Customer caused by such failure. (7) In case of failure to provide notice in connection with use of notice services (through fax, etc.) due to impediment of the telecommunications medium designated by the Customer or in case of leakage of information regarding the Customer due to the Customer's own carelessness, the Bank shall not be held liable. Article 24. Confidentiality Except as provided by laws and regulations, the Bank shall not disclose to any third party information regarding the Customer acquired by it in connection with performing the Electronic Financial Transactions without consent of the Customer himself/herself. The Bank, however, shall be held liable when the Customer-related information is stolen or leaked due to the Bank's negligence in managing the information. Article 25. Amendment of General Terms and Conditions (1) If the Bank wishes to amend these General Terms and Conditions, it shall post the proposed amendment at its business places and over Electronic Means which are amenable to posting of notice prior to one (1) month from the amendment date. If the amendment is not favorable to the Customer, then in addition to posting the same at its business places and over Electronic Means, the Bank shall make a public notice of the contents of the amendment in a daily newspaper and shall notify the Customer via e-mail to the e-mail address previously provided by the Customer. However, if these General Terms and Conditions need to be urgently amended due to changes in laws and regulations or systems, then the Bank shall immediately post such fact, and if the amendment is not favorable to the Customer, the Bank shall make a public notice of the contents of the amendment in a daily newspaper and shall notify the Customer via e-mail. (2) After posting of the proposed amendment, if no objection of the Customer is received by the Bank by one Business Day immediately preceding the effective date of the amendment, the Customer shall be deemed to have consented thereto. Article 26. Priority of Application (1) In the event that any individual agreements made by the Bank and the Customer conflict with the provisions of these General Terms and Conditions, then such individual agreements shall take precedence over these General Terms and Conditions. (2) Those matters regarding the Electronic Financial Transactions not provided for by these General Terms and Conditions shall be determined in accordance with the individual terms and conditions of the transactions. (3) Those matters not provided for by these General Terms and Conditions nor by individual agreements for Electronic Financial Transactions shall be, in absence of other agreements, governed by the relevant laws and regulations, the Bank's General Terms and Conditions of Deposit-Taking Transaction and General Terms and Conditions of Credit Transactions. Article 27. Raising of Objections In the event that the Customer has any objection concerning the processing of the Electronic Financial Transactions, he/she may refer the matter to the Bank's grievance board for settlement of the dispute, or may file an application for mediation of the dispute with the Financial Dispute Mediation Committee of the Financial Supervisory Service or with the Consumer Dispute Mediation Committee of the Korea Consumer Protection Board. Article 28. Governing Law These General Terms and Conditions shall be governed and construed in accordance with the laws of Republic of Korea. ADDENDA Article 1. Effective Date The General Terms and Conditions shall take effect on December 1, 2001. Article 2. Interim Measure The e-mail notice prescribed by Article 25 shall take effect on December 1, 2002. Information that a customer must keep in mind In case a customer intends to register his or her password with e-banking on the internet, he or she must register it within three-business day after the date of signing up for e-banking transaction. A customer must verify any discrepancies between transaction requests and transaction results. A customer must manage any means to access e-banking at his or her disposal, such as his or her password, transfer password. Please do not lend, entrust or assign passwords to a third party under any circumstances. KEB's duty and liability for Customers Where KEB intends to change service fees, it shall post the proposed changes, 1 week prior to its effective date of changes, at its branches or e-banking website for 1 month KEB shall maintain transaction records of the deposit and withdrawals made in Electronic Financial Transactions for 5 years and provide a customer with relevant records and data maintained at the request of a customer. In case KEB processes lost and stolen reports made by customers after passage of reasonable time required, which leads to inflict financial damages on customers, it shall make up for the loss and the accrued interests calculated at the rate of one-year-time deposit. If accident happens in the course of transmission of transaction request, which is not caused by intentional or negligent conduct of a customer, KEB shall be liable for the damages. In case KEB amends the according policy that is not favorable to customers, it shall post such facts at its branches, a public notice on a daily newspaper and notify customers of such facts via email.