Subscription Economy’Free → Paid’ schedule must be told… Cancellation possible outside business hours

-In the future, so-called’subscription economy’ operators, such as music, movies, books, and regular delivery, should clearly inform consumers of the related schedule when switching services from free to paid, and consumers can apply for cancellation outside of business hours.

The Financial Services Commission announced that it would announce the legislative amendment to the Enforcement Decree of the Specialized Credit Finance Business Act by February 15th.

In the meantime, complaints have been frequently raised as subscription economy operators often switch to paid services without proper guidance after the free and discount period ends. You should.

In addition, the Financial Services Commission has prepared ground rules that allow customers to easily apply outside of business hours if they wish to cancel the service, and prevented unreasonable restrictions on the choice of refund method by points.

Subscription economy refers to the provision of specific products or services by a provider when consumers regularly pay a certain amount, and services are provided in various industries such as digital content, regular delivery, and books.

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