The FSC and the FSS will revise the ‘Detailed Enforcement Rules of Regulation on Supervision of Electronic Financial Transactions Act’ that require online shoppers to mandatorily use accredited certificate when they make online payments worth more than KRW300,000.

With the revision, consumers would be able to shop online without accredited certificate when the payments are made by either debit or credit cards. For online money transfers, accredited certificate will be still required for payments worth more than KRW 300,000.

The revised rules will be enforced within June this year after the remaining procedures for revision are completed.

* Please refer to the attached PDF for details.