전자화폐의 도입에 따른 법적 과제 = Legal Problems on Electronic money

다국어 초록 (Multilingual Abstract)

Many electronic payment mediums have been introduced with remarkable
developments in Information and Telecommunication technologies. The use of
electronic money as one of the electronic payment mediums has been
astronomically increased due to its advantages in storage of value, ability to be
recharged, usage in various areas, and ability to complete the transaction
immediately. However, the financial transactions based on electronic money
inhibit several legal problems as the existing legal system does not state on this
form of transaction.
This research is, therefore, to discuss the possible legal methods to regulate
the problems that may arise from using electronic money. The summary of the
research is as follows.
First, electronic money is a payment medium which differs with credit
cards, gift certificates, or electronic transfers in that it is stored with the monetary
value in electronic medium such as computer, IC card, and network, and then,
utilized in transaction of goods and services.
Secondly, in consideration of the monetary function of electronic money as
storage of value and payment medium, an issuer of electronic money should be a
financial institution with public authority, which is stable and financially
100 金融法硏究제1권 제1호(2004)
The Korean Journal of Financial Law, Vol. 1, No. 1 (2004)
Legal Problems on Electronic money
MUN, ChongChin
transparent and has attained credibility in its operation to manage and operate
electronic money. In case of non-financial institution, it is proper that the
issuance of electronic money is authorized under the condition that it collaborates
with a financial institution.
Thirdly, an issuance contract of electronic money shall be deemed as a
transaction contract which offers the user with the complete right to be refunded.
Fourthly, although the payment with electronic money contains similarity
with the performance of obligation in light of compensating the seller of goods
and services, it is appropriate to regard it as one of the substantial/onerous
contracts, that is an exchange of goods, since the user has the obligation to the
substitution right of seller in repayment and on collateral.
Fifthly, the loss that has occurred in using the electronic money shall be
shared by the issuer and the user,considering the obligation of issuer in providing
credibility and stability.