This proposal aims to increase the waiting period for re-registration of a credit service provider who had closed business permanently from one (1) year to three (3) years to minimize the risk that a person engaged in credit business, etc., is able to circumvent supervision while operating in effect as a creditor by repeatedly entering and then leaving the business; to require a credit service provider registered with the Financial Services Commission to fulfill reasonable criteria regarding personnel when entering the market to improve the operation sustainability and expertise of major credit service providers with large market impact; to impose an obligation on a credit service provider registered with the Financial Services Commission to report to or alert supervisory authorities when enacting or amending its terms and conditions to reflect the trend of specialization and economies of scale in the credit market and strengthen consumer protection regulations; to impose an obligation to join the credit repair support agreement of the credit repair committee; and to supplement and/or improve other shortcomings that have surfaced during operation of the current system (Articles 9-8 and 9-9, newly inserted, etc.)

Criteria for Registration (Article 3-5), Qualifications for Executive Officers, etc. (Article 4), Amendment of Terms and Conditions (Article 9-8), Joining of the Credit Repair Agreement (Article 9-9), Inspections (Article 12)