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Protection of Financial Consumers
Consumer dispute mediation
Dispute mediation organization
- The Korea Consumer Agency has a Consumer Dispute Mediation Committee to mediate disputes between consumers and businesses (Article 60(1) of the Framework Act on Consumers).
Exclusion from dispute mediation
- Even if a dispute mediation is applied for at the Consumer Dispute Mediation Committee of the Korea Consumer Agency, it is excluded from dispute mediation if ① financial dispute mediation has been applied for at the Financial Supervisory Service or if damage relief of the same content as the one that has undergone dispute mediation is applied for again; or ② damage relief is claimed at the Korea Consumer Agency and then damage relief of the same content is applied for at the Financial Supervisory Service (Article 35(2) of the Framework Act on Consumers; Article 28 of the Enforcement Decree of the Framework Act on Consumers).