Electronic Banking Transaction Agreement

General Terms & Conditions of Electronic Financial Transactions 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 Woori Bank (hereinafter, the "Bank") and its users (the "Users") so that fast and efficient processing of the transactions may be promoted and the interests of the parties to the transactions are reasonably reconciled. Article 2 (Definitions of Terms) ① The terms used in these General Terms and Conditions shall be defined as follows: 1. "Electronic Financial Transaction(s)" shall mean financial products and services, which are offered by the Bank through Electronic Means and are directly used by the Users in non-facing and automated manner. 2. "User" shall mean the customer of the Electronic Financial Transactions pursuant to the agreement entered into with the Bank in order to conduct the Electronic Financial Transactions (the "Electronic Financial Transactions Agreement"). 3. "Payer" shall mean the holder of the account from which funds will be withdrawn (the "Withdrawal Account") in an Electronic Financial Transaction. 4. "Recipient" shall mean the holder of the account into which funds will be deposited (the "Deposit Account") in an Electronic Financial Transaction. 5. "Electronic Means" shall mean CD (Cash Dispensers), ATM's (Automated Teller Machines), debit terminals, computers, telephones, and other electronic devices used for transmitting or processing the electronic financial transaction information. 6. "Means of Access" shall mean any of the following means or the information equivalent thereto, which can be used to make a Transaction Request in the Electronic Financial Transactions or to secure the authenticity of the User or content of transaction: a. Electronic cards provided by the Bank or any other electronic information equivalent thereto; b. Algorithm information on Digital Signature or authorized certificate under the Digital Signature Act; c. User ID No. registered with the Bank; d. Registered bio-information of the User; and e. Passwords required for use of means or information referred to in item (a) or (b) above. 7. "Electronic Document(s)" shall mean the information prepared, transmitted, received or stored pursuant to Article 2, subparagraph 1 of the Framework Act on Electronic Commerce. 8. "Transaction Request" shall mean the request by which the User asks the Bank to process an individual Electronic Financial Transaction pursuant to the Electronic Financial Transactions Agreement. 9. "Error" shall mean the case where an Electronic Financial Transaction has not been effected in accordance with these Terms and Conditions (including any individual terms and conditions), the agreement on Electronic Financial Transactions or the Transaction Request of the User, in absence of the intention or negligence of the User. 10. "Transfer Services" shall mean the transactions whereby the Bank withdraws funds from the Withdrawal Account of the Payer and transfers them to another account opened at the same bank or another bank pursuant to the Transaction Request made by the Payer through the Electronic Means. 11. "Collection Transfer Services" shall mean the transactions whereby the Bank withdraws funds from the Withdrawal Account of the Payer and transfers them to another account opened at the same bank or another bank pursuant to the collection request made by the Recipient through the Electronic Means. 12. "Reserved Transfer Services" shall mean the transactions whereby the User 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. 13. "Remittance Services" shall mean the transactions whereby the User makes a deposit of funds into his/her own account or another's account through an ATM. 14. "Reserved Collection Transfer Services" shall mean the transactions whereby the User makes a Transaction Request in advance designating a future date as the date on which Collection Transfer Services are to take place, and the Bank executes the requested Collection Transfer Services on such date. 15. "Business Day" shall mean days on which the Banks are open for normal business operation at its business offices. ② The terms not defined herein shall be in accordance with the Electronic Financial Transactions Act and other relevant laws. Article 3 (Applicable Transactions) These General Terms and Conditions shall apply to the Electronic Financial Transactions, such the Transfer Services (this term hereinafter shall include the Reserved Transfer Services), the Collection Transfer Services (this term hereinafter shall include the Reserved Collection Transfer Services), the inquiry related to the Remittance Services and the deposit or withdrawal between the Bank and the User through any of the following Electronic Means: 1. Transactions using cash dispensers, ATM's or debit terminals; 2. Transactions using computers; 3. Transactions using telephones; 4. Transactions using debit card terminals; and 5. Transactions using other Electronic Means. Article 4 (Execution and Termination of Agreements for Transactions) ① The User shall enter into a separate Electronic Financial Transactions Agreement 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, ATM's or debit terminals; and 4. Other transactions designated by the Bank. ② The User may terminate the Electronic Financial Transactions Agreement by application therefor to the Bank in writing or through the Electronic Means in accordance with the individual terms and conditions regarding the electronic financial transactions. Article 5 (Issuance and Registration of Means of Access) ① The Bank may issue the Means of Access to the User at his/her request and after the personal certification of the User. ② Notwithstanding paragraph ①, in any of the following events, the Bank may issue the Means of Access with the consent of the User for renewal or replacement of the Means of Access, in absence of request or personal certification of the User. 1. With respect to the Means of Access, which have not been used within six (6) months prior to the scheduled date of renewal or replacement, if the Bank has obtained the consent of the User in writing (including the Electronic Document containing the authorized digital signature (the "Authorized Digital Signature") pursuant to Article 2(3) of the Digital Signature Act) for renewal or replacement; or 2. With respect to the Means of Access, which have been used within six (6) months prior to the scheduled date of renewal or replacement, if the Bank notified the User of the scheduled issuance not later than one (1) month prior to such scheduled date and the Bank has not received any objection from the User. ③ If the User desires to directly register the passwords, etc. through the Electronic Means after the execution of Electronic Financial Transactions Agreement, the User shall register so within three (3) Business Days including the date of execution of agreement. Article 6 (Management of Means of Access) Unless otherwise provided in the applicable laws, the User shall not lend, entrust, assign or encumber to a third party the Means of Access necessary for the Electronic Financial Transactions. The User 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 7 (Use of Authorized Certificate) The User shall use the authorized certificate under the Digital Signature Act for use of the Electronic Financial Transactions, to which these Terms and Conditions apply, except in any of the following cases: 1. In case of inquiry to the account of the User; 2. In case of the Electronic Financial Transactions using the Electronic Means, such as ARS, ATM or debit terminals, etc., for which it is impossible to install and operate the authorized certificate; 3. In case of payment of tuition fees, admission application fees, etc., wherein the personal certification of the User is possible and the Deposit Account is designated; 4. In case of settlement by credit card for payment in electronic commerce transaction, or on-line Transfer Services of amount less than 300,000 Won; 5. In case where electronic currency or electronic prepayment means are used on line; or 6. Other cases that are deemed necessary and approved by the Governor of the Financial Supervisory Service. Article 8 (Service Hours) ① The User 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 one (1) month in advance both at its head office and branches and over Electronic Means, which are amenable to posting of notice or to which the User may easily access, except in the cases of inevitable circumstances, such as system recovery, urgent program repair works, external causes, etc. Article 9 (Service Fees) ① The Bank may collect service fees for Electronic Financial Transactions either by withdrawing the fees from the User's account or by receiving cash directly from the User. 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 both at its head office and branches and over Electronic Means, to which the User may easily access, for one (1) month starting from one (1) month prior to the effective date of the changes. Article 10 (Ceiling Amount for Transfer Services) The User shall set his/her own ceiling amount for Transfer Services, Collection Transfer Services and Remittance Services in accordance with the method designated by the Bank. Article 11 (Constitution of Transactions) When the User wishes to use Electronic Financial Transactions, the transactions shall be constituted at the following point in time: 1. In case of Transfer Services and Collection Transfer Services, at the time when the Bank confirms the contents of the Transaction Request entered by the User 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 User 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 User and the amount to be deposited; and 4. In case of Reserved Transfer Services and Reserved Collection Transfer Services, at the time when the Bank confirms the contents of the Transaction Request made by the User, subject to the condition that the Withdrawal Account shall have sufficient funds available at the time of execution of the requested Transfer Services. Article 12 (Criteria for Processing the Transaction Requests) ① The Bank shall process a Transaction Request upon verification of the Means of Access, such as identify of the account number, password, user number, etc. stated on the Transaction Request against those reported to the Bank. ② Each Electronic Document received by the Bank in connection with a Transaction Request of the User shall be deemed independent respectively. ③ Notwithstanding paragraph ② above, if the Electronic Documents of the same contents are repeatedly received during the time set by the Bank, the Bank may disuse, at its discretion, other Electronic Documents after undergoing the procedures for verification of real intention of the User for a Transaction Request through telephone or other Electronic Means which can be used for immediate notification to the User. ④ When the Bank withdraws funds from the Withdrawal Account pursuant to the Transaction Request of the User, 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. ⑤ 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. ⑥ 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 19. ⑦ In case of Reserved Transfer Services and Reserved Collection Transfer Services, the requested transactions shall be processed only if the Withdrawal Account has sufficient funds to cover the amount requested by the User on the Transaction Request at the time of execution of the requested transactions. ⑧ In case of paragraph (7) above, if the requested transfer date falls on a Bank's holiday, then the requested transactions shall be processed on the following Business Day. Article 13 (Consent on Withdrawal from the Withdrawal Account) ① The Bank may not effect the Collection Transfer Services without the consent of the Payer on withdrawal from the Withdrawal Account, which shall be obtained by any of the following methods: 1. Method wherein the Bank receives the written application for withdrawal (this term hereinafter shall include the Electronic Document containing the authorized digital signature) from the Payer; or 2. Method wherein the Recipient receives the written consent of the Payer on withdrawal and delivers it to the Bank (including the delivery of details of such consent by the Electronic Means). ② The Payer may request the Bank to cancel his/her consent on withdrawal before the Bank has completely recorded the withdrawing of the "withdrawal amount" on the ledger of the Withdrawal Account pursuant to a Transaction Request of the User. ③ Notwithstanding paragraph ② above, the Payer may request the Bank to cancel batch transactions or Reserved Collection Transfer Services through written notice to the business place of the Bank by one Business Day immediately preceding the requested transfer date. Article 14 (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 User; 5. In case the Transfer Request requests Transfer Services to be made to an account other than the designated Deposit Account, when the User 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, violation of the Electronic Financial Transactions Act and other relevant laws, etc. ② In any of the following cases, all of Transfer Services conducted through applicable Electronic Means may be restricted: 1. In case the authorized certificate has expired or is canceled; or 2. In case no Transfer Services have been used for twelve (12) months or more by the User 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 User of the reasons therefor over the same Electronic Means upon receipt of a Transaction Request of the User. ④ In case of the foregoing paragraph ②, the User may resume the Electronic Financial Transactions by taking appropriate steps, such as re-issuance or extension of the authorized certificate required by the Bank or expression of intent to use, etc. Article 15 (Effectiveness of Payment) ① For Transfer Services, Collection Transfer Services and Remittance Services, the payment shall be effective upon recording of the deposit on the ledger of the Recipient's account. ② For cash withdrawals, the payment shall be effective upon receipt of cash by the User. ③ For payment made by other electronic payment means such as the electronic currency or electronic debenture, the payment shall be effective upon inputting the information on amount subject on the Transaction Request on the Electronic Means of a bank with which the account of the Recipient is opened. Article 16 (Revocation of the Transaction Requests) ① A Transaction Request may be revoked by the User through the Electronic Means used by the User in Electronic Financial Transactions or in accordance with the procedures set by the Bank before the transaction has been completed pursuant to Article 15. ② Batch transactions, Reserved Transfer Services and Reserved Collection Transfer Services may be revoked if a revocation of the Transaction Request is made through applicable Electronic Means by one Business Day immediately preceding the requested transfer date. ③ Notwithstanding paragraph ① above, in case of the Electronic Financial Transactions where the Bank cannot immediately confirm the completion of transactions due to the nature of the requested transactions, such as real-time transfer services, the Bank may restrict the cancellation of the Transaction Request made by the User. ④ When the Withdrawal Account is closed at the request of the User, any Transaction Request for Reserved Transfer Services registered with such Account shall also be terminated. ⑤ Neither death or adjudication of quasi-incompetency or incompetency of the User nor dissolution, bankruptcy or merger of the User or the Bank by itself will have the effect of revoking or modifying the Transaction Requests or affect the powers of the Bank. Article 17 (Verification of the Transaction Results) ① The Bank shall procure that the User may immediately verify the results of processing of transactions completed pursuant to Article 15, through the Electronic Means used by the User in the Electronic Financial Transactions or other alternative electronic means, such as computers. However, in cases of the Transfer Services to other bank and the Reserved Transfer Services, the Bank shall immediately notify the User of the results of receipt through the Electronic Means concerned. ② Notwithstanding paragraph ① above, if it is difficult to confirm the contents of transactions as requested by the User, through the Electronic Means concerned or other alternative electronic means, the Bank shall print the contents of transactions concerned in the form of writing (except the Electronic Document) and deliver it to the User. ③ The User shall verify whether the Transaction Request and the processing results mentioned in paragraph ① above correspond to each other. Article 18 (Correction of Errors) ① When the User learns that there was an Error in the Electronic Financial Transaction, he/she may request the Bank to immediately correct the Error. In such case, the Bank shall immediately investigate and effect appropriate corrections, such as verification of money transfer course and restriction on withdrawal thereof, and shall notify the User of the results of corrections within two (2) weeks from the receipt of such request. ② When the Bank learns that there was an Error in the Electronic Financial Transaction, it shall immediately investigate and effect appropriate corrections to the processed transaction, and shall notify the User of the results of corrections within two (2) weeks therefrom. Article 19 (Handling at the Time of Accident or Impediment) ① When the User learns of the theft, loss, forgery or alteration of the Means of Access to the transaction accounts or divulgement 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 receipt of the report by the Bank. ③ In the event that the reporting made under the foregoing paragraph ① is to be revoked, the User 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 due to telecommunications impediment or other causes, the Bank shall deposit the money back to the Withdrawal Account and notify the User of such fact to the reported contact point of the User. ⑤ At the request of the User, the Bank shall promptly investigate the reasons for any accidents or impediments, and shall notify the User of the results of the investigation. Article 20 (Indemnification) ① If the User has suffered any damages from an accident arising out of forgery or alteration of the Means of Access, or an accident arising in the course of execution of agreement or transmitting or processing of the Transaction Request by the electronic means, the Bank shall be liable for amount of such damages 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 Notwithstanding paragraph (1) above, the Bank shall not be held liable for all or any part of the damages suffered by the User in any of the following cases: 1. In case of (i) acts of God, war or terror or (ii) force majeure such as stoppage of power supply, fire, destruction of building, or other events that is not attributable to the Bank; 2. In case that the User lends, entrusts, assigns or encumbers to a third party the Means of Access; 3. In case that the User divulges or discloses his/her Means of Access to a third party, or permits such divulgement or disclosure even though the User knew or could easily know that such third party could do, without authorization, the Electronic Financial Transactions by using the Means of Access of the User; or 4. In case that the User, which is a juristic person (except the small enterprises as set forth in Article 2(2) of the Framework Act on Small and Medium Enterprises), has suffered the damages but the Bank has fulfilled its obligations of due care as reasonably requested, such as establishment of, and thorough compliance with, the security proceedings in order to prevent any accident. ③ In case that the Bank is notified from the User of the theft or loss of the Means of Access, the Bank shall compensate the amount of damages suffered by the User out of use of the Means of Access by a third party from the time of receipt of such notice. Article 21 (Provision of Transaction Records and Data) ① At the request of the User, the Bank shall provide the User 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. ② The scope of transaction records, of which the User may request the provision, and the subject period thereof shall be the same as those set forth in paragraphs ① and ② of Article 22. ③ If the User requests the Bank to provide the transaction records and data in the form of writing (except the Electronic Document; hereinafter the same shall apply), the User shall submit the written application form to the business place of the Bank. The Bank shall post, over the internet, etc., the address, telephone number, etc. of the business places, to which the User may submit such written application form. ④ The Bank shall deliver the statement of transaction to the User within two (2) weeks after the receipt of request for such statement by the User pursuant to paragraph ③ above. ⑤ If the Bank is unable to provide the transaction records and data (including the statement of transaction) due to any unavoidable cause, the Bank shall immediately notify the User of such cause. Upon the termination of such cause, the Bank shall confirm or provide the statement of transaction within the period set forth in any of the following subparagraphs: 1. Immediately in case of provision through the Electronic Means; and 2. Within two (2) weeks in case of provision in writing pursuant to paragraph ③ above. Article 22 (Maintenance of Transaction Records) ① The Bank shall keep and maintain transaction records relating to the Electronic Financial Transactions (except the inquiries) as referred to in any of the following subparagraphs for five (5) years: 1. Name and number of transaction account; 2. Type and amount of transaction, and information identifying the counterparty; 3. Transaction date, type of the Electronic Means, and information identifying the type of the Electronic Means; 4. Fees relating to the Electronic Financial Transactions, which have been received by the Bank; 5. Details of consent on withdrawal by the Payer in case of the Collection Transfer Services; 6. Details of application for Electronic Financial Transactions and the application for change thereof; and 7. Access log data generated by the Electronic Means related to the relevant Electronic Financial Transactions. ② The Bank shall keep and maintain transaction records relating to the Electronic Financial Transactions as referred to in any of the following subparagraphs for one (1) year: 1. Records regarding the transactions of small amount not more than 10,000 Won per case of transaction; 2. Records regarding the approval of transactions; and 3. Request for correction of Error, and records of correction. Article 23 (Method and Effect of Notice) ① In notifying matters in the process of the Electronic Financial Transactions under paragraph ② of Article 17 and paragraphs ④ and ⑤ of Article 19, the Bank shall provide notice either by phone, in writing or through other Electronic Means to the contact point reported by the User. ② 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. ③ In the event that the written notice sent by the Bank under the foregoing paragraph ② does not reach or is delayed in reaching the User due to the User's negligence in notifying any changes pursuant to Article 24, the notice shall be deemed delivered upon passage of normal time required for such delivery. Article 24 (Amendment of Reported Items) ① If the User 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 User 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). ③ The User may give any notices, other than the reported items as set forth in paragraph (1) above, to an electronic financial assistant operator of the Bank. In such case, any notice given to such assistant operator shall be deemed given to the Bank. Article 25 (Matters to be Complied with, etc.) In order to conduct the secure Electronic Financial Transactions, the User shall comply with the following matters as determined by the Bank: 1. Measures and management method in order to prevent the leaking of the password or the hacking; 2. Procedure and method provided by the Bank in order to protect the interests of the Users; and 3. Other matters as determined by the Bank. Article 26 (Recording of the Transactions) In order to ensure accuracy of transactions, the Bank may record the telephone communications of transactions between the User 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 User may request disclosure of the contents of the recording. Article 27 (Confidentiality) Except as provided by laws and regulations, the Bank shall neither disclose to any third party, nor use for any purpose other than its business, the information regarding the personal matter and account of the User, and information or data regarding the contents and records of the Means of Access and the Electronic Financial Transactions acquired by it in connection with performing the Electronic Financial Transactions without consent of the User himself/herself. The Bank, however, shall be held liable when the User-related information is stolen or divulged due to the Bank's negligence in managing the information. Article 28 (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 head office and business places and over Electronic Means through which the relevant Electronic Financial Transactions are conducted (in case that such Electronic Means are not amenable for posting the notice, the Electronic Means to which the User may easily access) and give notice to the User at the e-mail address, prior to one (1) month from the amendment date. Should the User protest against the amendment, the Bank must confirm that the User had been notified of the amendment of Terms and Conditions in an adequate manner. 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 over the Electronic Means (for at least one (1) month) and shall notify the User through e-mail. ② The User may terminate the Electronic Financial Transactions not later than one Business Day immediately preceding the effective date of the amendment after posting or notification of the proposed amendment pursuant to paragraph (1) above. If no objection of the User is received by the Bank by such one Business Day immediately preceding the effective date of the amendment, the User shall be deemed to have consented thereto. Article 29 (Priority of Application) ① In the event that any individual agreements made by the Bank and the User 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 Electronic Financial Transactions Act, other relevant laws and regulations, the Bank's General Terms and Conditions of Deposit-Taking Transaction and General Terms and Conditions of Credit Transactions. Article 30 (Raising of Objections and Cooperation) ① In the event that the User 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. ② If the User raises any objection to the head office, business place or grievance board of the Bank, the Bank shall investigate and notify the User of the results of investigation or disposition within fifteen (15) days therefrom. ③ The Bank shall designate the manager and staff, who shall be responsible for settlement of the dispute, and post their contact information over internet website. ④ The User shall cooperate for the examination of the Bank and the examination or investigation procedures of the relevant authority relating to the settlement of the dispute, such as indemnification for damages arising out of the accident set forth in paragraph ① of Article 20. Article 31 (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 January 1, 2007.

Internet Banking Service Agreement

Internet Banking Service Agreement Article 1 (Purpose) This『Internet Banking Service Agreement』(hereafter referred to as "Agreement") based upon the Electronic Banking Transaction Agreement, describes the terms and conditions pertaining to Internet Banking use between the service supplier, Woori Bank (hereinafter referred to as "Bank") and the customer. Article 2 (Types of Service) 1. Services provided by "the bank" includes, Internet Banking, Woori Escrow Service, Woori Cash Service, Scraping Service, etc. Specific service contents will be announced through electronic means. 2. Scraping Service provides inquiry and management service of customers' accounts at other Financial Institutions in one screen using customers' Internet access information for each Financial Institution. Article 3 (Electronic Means) The customer may access the service through the following "Electronic Means" : Personal Computer, TV, cellular phone, PDA(Personal Digital Assistant) Article 4 (Commencement and Termination of Services) ① Service commences upon the customer submitting a completed electronic banking use request form (hereinafter referred to as "request form") to "the bank", as well as the customer's registration of various required passwords. ② If the customer needs a separate agreement for a specific business purpose, the customer must terminate other existing individual agreements ③ If the customer desires to terminate the use of services as outlined in clause ①above, the customer must file a formal request for termination. However, individual customers may terminate the use of services via electronic means without filing a formal request. Article 5 (Authentication of Customer) For each instance of use of any of its services, "the bank" authenticates customer identity by comparing the required fields entered by the customer with the customer's data registered with the bank. 1. Internet Banking: User ID, user password, account password, fund transfer PIN number, security PIN number, OTP Generator number, electronic authentication password, Bio-authentication, etc 2. Other Services : User ID, user password, electronic authentication password, password for each service Article 6 (Payment Method for Service Charges) All services fees are automatically withdrawn from the customer's withdrawal account, either at the Bank's appointed date (typically the 10th of the following month) or another designated date agreed upon by the customer. Fees are calculated relative to the dates or the actual number of monthly uses. Article 7 (Opening or Closing Accounts) ① Through internet banking services, customers can open a new account in their name by simply withdrawing funds from their existing withdrawal account. ② Only after the identity confirmation can an account opened as in clause ① be withdrawn from or terminated at a branch office. ③ Although withdrawals or account termination through internet banking services do not require the formalities described in clause ②, withdrawals or terminated account funds can only be transferred to an account that has been identity confirmed by "the bank". ④ The type of deposit, savings, or trust accounts that can be opened shall be determined by "the bank". Article 8 (Withdrawal or Deposit Accounts) ① Withdrawal accounts registered under the customer's actual name have unlimited withdrawals and deposits, and can be designated either as Korean Won or Foreign currency deposit. However, certain services may be restricted according to user account type. ② The customer can designate the withdrawal/deposit status of fund transfer deposit accounts. Note that an account must be designated for deposit status in order to be able to accept deposits. Article 9 (Limit of Fund Transfer or Oversea Remittance) ① The customer may set a daily fund transfer limit within a range set by "the bank". If the customer chooses not to designate a limit, "the bank" will automatically set a limit according to pre-designated criteria. ② If, aside from clause ①, there exist other statutes or regulations governing transfer/remittance amounts, the limit is set according to the statute or regulation. Article 10 (Scraping Service) ①Process - The customer takes necessary measures such as applying for Internet Banking services in order to access and manage accounts which are opened at "the bank" and other Financial Institutions. - The customer uses the Scraping program provided by "the bank" and takes necessary measures to register accounts opened at "the bank" and other Financial Institutions. ②Obligation and Immunity - In case of being unable to make inquiry or bill collection of other banks due to any factor caused by the bank in question, the customer takes the necessary actions at one's own risk and "the bank" has immunity. Article 11 (Service Limitations) ① "The bank" cannot provide service in the following cases : 1. When there are 3 consecutive errors entering customer authentication data (service will be restored after the customer requests an input error cancellation at a branch office) 2. When payments for deferred service charges are overdue ② When service is restricted due to the reasons listed under clause ①, electronic notifications will be sent upon customer request. Article 12 (Confirmation of Transaction Details) At any of our branch offices, the customer can request details of fund transfers, oversea remittances, or other transactions. Through frequent balance inquiries and bankbook updates, the customer should confirm transactions in order to discover possible irregularities. Article 13 (Password Management) ① In order to prevent the disclosure of various passwords to others, customers may change their passwords at any time through the electronic means listed in Article 3. ② Confirmation or inquiries of passwords or PIN numbers are impossible, and loss, theft, or other such disclosure of security cards or passwords must be reported to a branch office in writing as soon as possible. In emergency situations, a verbal report can be processed for customers during business hours, but a written report must be turned in within the next business day. Article 14 (Modifying the Agreement) Modifications to this agreement shall be posted for customers' benefit through available electronic means at least 1 month before taking effect. The client is assumed to agree with the modifications if the client raises no objections to the bank up to 1 day before the effective date of the modifications. Article 15 (Entsprechende Anwendung) ① Details not specified or included in this agreement will be governed by the electronic banking transaction agreement, deposit transaction agreement, foreign exchange trading agreement, agreement by deposit type(including trusts), individual transaction agreement, K.T.F.C. (Korea Financial Telecommunications & clearings Institute) rules and regulations, etc. ② If this agreement specifies terms and conditions differently from other agreements, this agreement will have precedence over other agreements. Article 16 (Other notices) Information pertaining to Internet Banking service business hours, service charges, fund transfer limits, foreign currency trading limits, oversea remittance limit, and other services will be on file at our branch offices or posted through available electronic means. Article 17 (Governing Law) This Agreement shall be interpreted and governed by the laws of the Republic of Korea.

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