Refund up to 100% even after the expiration of mobile gift certificates

[Financial News] In the future, even if the expiration date of a mobile gift certificate has passed, consumers can receive a refund of up to 100% upon request. In particular, for gift certificates exceeding 50,000 won, the refund rate will be increased from the current 90% to 95%, and if refunded with credit instead of cash, a full refund will also be possible.
 On the 16th, the Fair Trade Commission announced that it had revised the standard terms related to mobile gift certificates to confirm this content and recommended immediate application.
 Previously, only 90% of the balance could be refunded after the expiration date of a mobile gift certificate, but now gift certificates exceeding 50,000 won can be refunded up to 95%.
 Gift certificates of 50,000 won or less will maintain the same 90% refund rate as before.
 The Fair Trade Commission explained, "The existing standard was maintained for gift certificates with small amounts due to their high usability, and improvements were made to reduce the refund burden for high-value gift certificates."
 The most notable change is that a full refund is possible when refunded with credit.
 If a consumer requests a refund with credit (points, mileage, etc.) instead of cash, and the business operates a credit system, the entire balance can be refunded 100%.
 This revision is a measure to establish fair trade order in the gift certificate market and reduce consumer damage.
 The Fair Trade Commission prepared this standard term by reflecting consumer complaints collected through the 'Mobile Gift Certificate Public-Private Council' launched in April last year and the revision request of the Korea Consumer Agency.
 The Fair Trade Commission stated, "We will continue to pursue the establishment and revision of consumer-centered standard terms by reflecting the voices of the people in areas closely related to daily life."
imne@fnnews.com Hong Yeji Reporter