1. Reason for Revision

The proposed revision establishes provisions for the implementation of the system of certifying the operators of used mobile communication terminal device as safe transaction operators due to the revision and enforcement of the Mobile Device Distribution Improvement Act (July 31, 2024).

2. Main Contents

a. The revision establishes the certification standards for operators of used terminal device safe transaction businesses (Article 6-2 of the draft).

b. The revision establishes procedures for the methods of application, issuance, and supplementary requests related to the certification system for operators of used terminal device safe transaction businesses (hereinafter referred to as the “certification system”) (Article 6-3 of the draft).

c. The revision establishes the period of validity of the certification system (5 years) and the extension procedure (Article 6-4 of the bill).

d. The revision establishes the basis for collecting application fees of certification system (Article 14-2 of the draft).

e. The revision establishes the basis for entrusting certification system work (Article 15-2 of the draft).