Invest KOREA

CHAPTER 1 General Provision

Article 1 (Purpose)

The purpose of this Terms of Use is to prescribe the matters related to the condition of use and the procedure of the services provided by the "Invest KOREA" website (www.investkorea.org), a national investment promotion website operated by Invest KOREA.

Article 2 (Notification and Revision)

• This Terms of Use is displayed on the website (www.investkorea.org) where services as explained in Article 3(“Services”) are offered to “Members”(refers to the “Investor” who obtains membership as described in Article 5 below and the “Korean Companies” who uses the "Invest KOREA" website (www.investkorea.org), and the other people who will use the services.
• This Terms of Use prescribes general information on the Service Use Agreement made between Invest KOREA and Members. Invest KOREA may amend the Terms and notify the amended Terms to Members if necessary.
• When Invest KOREA wishes to amend the Terms, Invest KOREA shall specify and notify the effective date of the amended Terms of Use and the cause of such amendment from seven to one day before the effective date.
• By agreeing to this Terms of Use, Members shall comply with this Terms of Use and the Site Use Policy displayed to the Members by Invest KOREA.

Article 3 (Types of Services)

Invest KOREA offers the following Services:

• Investment Matching : This service provides virtual business matching service which includes meeting arrangement, coordination, review through the website(www.investkorea.org) operated by Invest KOREA.
• Initial Investment Cost : This service provides labor cost, four major insurances, rent and other taxes data for investors to refer to estimating initial investment cost.

CHAPTER 2 Application and Termination

Article 4 (Principle of Use Agreement)

• To make a service contract(“Use Agreement”) between the Investor and Invest KOREA, the Investor shall enter the user information into the prescribed form set by Invest KOREA and agree to this Terms of Use.
• Only the Investor who is permitted to use the website(www.investkorea.org) by the Invest KOREA administration team is entitled to obtain membership and use Services to prevent any disputes that may arise in business relations between Members.

Article 5 (Application)

The applicant who wishes to use Services shall enter the following information in accordance with the membership application form provided by Invest KOREA.

• Essential Information : ID(E-mail), Password, Name, Company name, Country(nationality of the company), Website URL, Time zone
• Optional Information : Designation, Phone number (Office, Mobile), Industrial classfication, KOTRA office near you

Article 6 (Acceptance of Application)

• When the applicant enters the information specified in Section 1 of Article 5 and agree to this Terms of Use, the Invest KOREA administration team shall check the information entered and may accept the application.
• If Invest KOREA cannot identify whether the information entered by an applicant is true, Invest KOREA may request the applicant to submit more information and evidence thereto.
• The applicant who is accepted by Invest KOREA manager obtains membership as a member of Invest KOREA and can use the Services.

Article 7 (Rejection and Suspension of Application)

• Invest KOREA may reject the application in, but not limited to, the following cases:
  [Example]
  • The name entered into the prescribed form is not right or false
  • The information entered is false
  • The application is illegal or unreasonable.
• Invest KOREA may suspend the application. At the time of such suspension, Invest KOREA shall notify the cause of the suspension, period of time allowed to submit any additional information requested by Invest KOREA, or additional information or evidence needed for acceptance of the application through e-mail or other methods.

Article 8 (Termination of Use Agreement)

• Termination by Investor
  • Investor may terminate the Use Agreement by notifying his/her intention to terminate the Use Agreement to Invest KOREA. The Use Agreement is terminated when Invest KOREA identifies the intention of the termination.
  • Investor shall complete, withdraw from, or cancel all ongoing meetings before the intention of the termination is notified to Invest KOREA. The disadvantages caused by withdrawing from or canceling the ongoing contracts or purchase procedures shall be a burden to be borne by the Investor.
  • A Investor who terminates the Use Agreement may re-apply for Invest KOREA after the termination in accordance with the application procedure specified in the Terms of Use. However, the ID(E-mail) cannot be re-used.
• Termination by Invest KOREA
  • Invest KOREA may terminate the Use Agreement without any notice in the following cases:
    • A Investor violates the regulation set by Invest KOREA when the Member transacts business with another Member
    • A Investor has business relations or attempts to do business by violating this Terms of Use or the regulation set by Invest KOREA
    • A Investor infringes the right of Invest KOREA or Members, defames their reputation, impairs their credit, or otherwise disadvantages them
    • A Investor disturbs or attempts to disturb Invest KOREA
    • A Investor forces business transactions via negotiation, contract, and order even if the Member does not intend to trade in products.
    • A Investor distributes contents against public morals or public order.
    • A Investor defames other Member's reputation or disadvantages other Members.
    • A Investor sends a large amount of unsolicited information or spam to disturb the stable operation of Services.
    • A Investor distributes computer virus programs that cause malfunction of information communication facilities or provide incorrect information.
    • A Investor infringes intellectual property right of Invest KOREA, other Members, or the 3rd party. For examples:
      A Investor illegally uses the personal information such as user ID and password of other Members.
    • A Investor posts obscene materials on the bulletin board or links to obscene sites.
    • A Investor violates other agreements or related laws.
      b. Invest KOREA may give an opportunity for the Investor to express his/her opinion about the reason for termination before or after the termination.
      c. The damages caused by the termination of the Use Agreement shall be a burden borne by the Investor whose membership is expired by the termination

CHAPTER 3 Protection and Provision of Personal Information

Article 9 (Collection of Personal Information)

• Invest KOREA may collect the minimum information required for arranging business meetings and confirming investors using ‘Initial Investment Cost’ service. The information specified in Section 1 of Article 5 shall be essentially included, and other information shall be optional.
• The personal information provided by Invest KOREA shall be used only for prompt and safe meeting arrangement platform, and shall not be used for other purposes. However, if the corresponding Member allows using the information for other purposes, the information may be used.

Article 10 (Offer and Share of Personal Information)

• Invest KOREA may use personal information(except for the information displayed on the website(www.Invest KOREA.org) such as user ID, name, etc.) in other websites directly operated by Invest KOREA, and KOTRA for the following purpose of the collection; use, seamless service, and service expansion, which are mentioned when the information is collected, and shall not use the information for other purposes. However, if the data subject allows use of his/her the information, the information may be used.
• Invest KOREA may expose Investor information on the Invest KOREA website(www.investkorea.org) when the Investor registers its promotioanl information on Invest KOREA website(www.Invest KOREA.org).
• Invest KOREA shall not provide personal information collected to a 3rd party without the permission of the data subject except in the following cases:
  • When the personal information is required for operating virtual meetings.
  • When law allows the use of the information of a Member or a 3rd party.
  • When the personal information is required for ‘meeting review’ after the meeting ends.
• Korean company‘s phone number may be displayed on the ’Investment Opportunities’ page.
• The information of a Investor is provided to the counterpart for follow-up meetings.

Article 11 (Protection of Personal information)

• Investor always can view or change his/her information.
• Invest KOREA shall make every effort to protect personal information, and a Member shall take proper measures to protect his/her information.

Article 12 (Storage of Personal information)

• When the Use Agreement with a Investor is terminated, Invest KOREA shall stop collecting, using, providing the corresponding personal information and destroy such information immediately. However, personal information shall be retained in the following cases:
  • Invest KOREA shall retain personal information for a certain time period set by the related laws such as commercial law and customer protection law.
  • Even if the Use Agreement is expired, Invest KOREA may retain the information such as user ID, user name, phone number, and meeting history for a certain time period for further management for a Member who has investment history.
  • Invest KOREA may retain personal data and the information relating to past transactions for a certain time period after the expiration or termination of Use Agreement to prevent any Member who has trade history attempting to disturb or restrict the Services by intentionally evading this Terms of Use.
  • Invest KOREA may retain some information(such as user ID, user name, phone number, address, and the information related to the termination of the Use Agreement and membership suspension) for a certain time period after the expiration or termination of Use Agreement to check if there is any cause to reject any re-application in the case where Invest KOREA terminates the Use Agreement or a Member’s membership is suspended.

Article 13 (Change and Management of Personal Information)

• When the Investor’s information is incorrect, Investor may correct such information by him/herself or Invest KOREA may request to correct such information to the Investor immediately. If the information is determined as incorrect information, Invest KOREA may suspend the Services until the information is properly changed.
• Investor shall be responsible for the damages caused by failing to correct his/her information where such information had changed. Invest KOREA shall not assume the responsibility for such damages.
• Investor is responsible for managing his/her personal information such as user ID and password.
• Investor shall not transfer or lend his/her user ID and password to a 3rd party.
• If personal information is thieved or used by a 3rd party, the Investor shall notify the information leakage to Invest KOREA immediately after it comes to his/her knowledge, and follow the actions taken by Invest KOREA to manage and protect the personal information.

CHAPTER 4 Disclaimer

Article 14 (Limitation of Liability)

• To the maximum extent permitted by law, the Services provided by Invest KOREA on or through the website(www.Invest KOREA.org) are provided "as is", "as available" and “with all faults”, and Invest KOREA hereby expressly disclaims any and all warranties, express or implied, including but not limited to, any warranties of condition, quality, durability, performance, accuracy, reliability, merchantability or fitness for a particular purpose. A such warranties, representations, conditions, and undertakings are hereby excluded.
• To the maximum extent permitted by law, Invest KOREA makes no representations or warranties about the validity, accuracy, correctness, reliability, quality, stability, completeness or currentness of any information provided on or through the website. Invest KOREA makes no representations or warranties of any kind concerning any product or service introduced on the sites.
• Any material downloaded or otherwise obtained through the website(www.investkorea.org) or Services is done at each Member's sole discretion and risk and each Member is solely responsible for any damage to its own or to Invest KOREA’s computer system(s) or any loss of data that may result from the download of any such material. No advice or information, whether oral or written, obtained by any Member from Invest KOREA or through or from the website(www.investkorea.org) shall create any warranty not expressly stated herein.
• The website(www.investkorea.org) may make available to “Services” provided by independent 3rd parties. No warranty or representation is made with regard to such services or products. In no event shall Invest KOREA be held liable for any such services or products.
• Each Member hereby agrees to indemnify and save Invest KOREA, directors, officers and employees harmless, from any and all losses, claims, liabilities (including legal costs on a full indemnity basis) which may arise from such Member's access to or use of the website(www.investkorea.org) or Services (including but not limited to the display of such Member's information on the website) or from Member’s breach of any of the terms and conditions of the Terms of Use. Each Member hereby further agrees to indemnify and save Invest KOREA, directors, officers and employees harmless, from any and all losses, damages, claims, liabilities (including legal costs on a full indemnity basis) which may arise from Member's breach of any representations and warranties made by Member to Invest KOREA.
• Each Member hereby further agrees to indemnify and save Invest KOREA, directors, officers and employees harmless, from any and all losses, damages, claims, liabilities (including legal costs on a full indemnity basis) which may arise, directly or indirectly, as a result of any claims asserted by 3rd Party Rights claimants or other 3rd parties relating to products offered or displayed on the website. Each Member hereby further agrees that Invest KOREA is not responsible and shall have no liability to Members, for any material posted by others, including defamatory, offensive or illicit material and that the risk of damages from such material rests entirely with each Member. Invest KOREA reserves the right, at own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by Member, in which event Member shall cooperate with Invest KOREA in asserting any available defenses.
• Invest KOREA shall not be liable for any special, direct, indirect, punitive, incidental or consequential damages or any damages whatsoever (including but not limited to damages for loss of profits or savings, business interruption, loss of information), whether in contract, negligence, tort, equity or otherwise or any other damages resulting from any of the following:
  • the use or the inability to use the website(www.investkorea.org) or Services.
  • any defect in goods, samples, data, information or services purchased or obtained from a Member or any other 3rd party through the website(www.Invest KOREA.org) or Services.
  • violation of 3rd Party Rights or claims or demands on the website(www.Invest KOREA.org) or through the services may violate or may be asserted to violate 3rd Party Rights; or claims by any party that they are entitled to defense or indemnification in relation to assertions of rights, demands or claims by 3rd Party Rights claimants.
  • unauthorized access by 3rd parties to data or private information of any Member.
  • acquisition of information not provided by Invest KOREA or on the website(www.investkorea.org)
  • statements or conduct of any Member of the website(www.investkorea.org) or Services; or;
  • any matters relating to the website(www.investkorea.org) or Services, however arising, including negligence.

Article 15 (Force Majeure)

Under no circumstances shall Invest KOREA be held liable for any delay or failure or disruption of the content or the Services accessed or delivered through the Sites resulting directly or indirectly from acts of nature, forces or causes beyond Invest KOREA’s reasonable control, including without limitation, Internet failures, computer, telecommunications or any other equipment failures, electrical power failures, strikes, labor disputes, riots, insurrections, civil disturbances, shortages of labor or materials, fires, flood, storms, explosions, acts of God, war, governmental actions, orders of domestic or foreign courts or tribunals or non-performance of 3rd parties.

CHAPTER 5 Miscellaneous

Article 16 (Related Law and Jurisdiction)

• Any dispute which may arise between Invest KOREA and a member in relation to Services and this Terms of Use shall be governed by the law of Republic of Korea. All the law suits related with this dispute shall be exclusively brought in the courts of Republic of Korea, which has jurisdiction of the Code of Civil Procedure of Republic of Korea.
• Any dispute which may arise between members in relation to investment meeting(s) shall be governed by the law and court set forth in the agreement made during transaction, and Invest KOREA shall not assume the responsibility for the dispute.