Article 1(Purpose) #
The purpose of this Act is to contribute to the enhancement of benefits in people’s lives and of economic activities by requiring post offices to conduct affair concerning postal money orders, and thus to seek convenience in remitting money between individuals in distant places.
[This Article Wholly Amended on Mar. 17, 2010]
Article 2(Definitions) #
As used in this Act, the term "postal money order" means a means of remitting money between individuals in distant places using a postal money order certificate issued by a post office.
[This Article Wholly Amended on Mar. 17, 2010]
Article 3(Managing Body) #
The business of postal money orders shall be managed by the State and administered by the Minister of Science and ICT. <Amended on Mar. 23, 2013; Jul. 26, 2017>
[This Article Wholly Amended on Mar. 17, 2010]
Article 4(Types of Postal Money Orders and Terms of Use thereof) #
The types of a postal money order and terms of use thereof shall be prescribed by Ordinance of the Ministry of Science and ICT. <Amended on Mar. 23, 2013; Jul. 26, 2017>
[This Article Wholly Amended on Mar. 17, 2010]
Article 5(Limits of Postal Money Orders) #
The limit of a postal money order per note shall be determined by Ordinance of the Ministry of Science and ICT by type of postal money order. <Amended on Mar. 23, 2013; Jul. 26, 2017>
[This Article Wholly Amended on Mar. 17, 2010]
Article 6(Notification, etc. on Confirmation of Payment) #
(1) A person who intends to remit money by a postal money order (hereinafter referred to as "remitter") may request a post office to notify the remitter of the payment of the postal money order when the post office cashes the postal money order.
(2) A remitter or person who may request the payment of a postal money order may request each post office to verify if the postal money order has been cashed and to notify the result thereof.
(3) Matters necessary for the notification of payment under paragraph (1), or the method of notifying the result of payment, and request methods under paragraph (2) shall be prescribed by Ordinance of the Ministry of Science and ICT. <Amended on Mar. 23, 2013; Jul. 26, 2017>
[This Article Wholly Amended on Mar. 17, 2010]
Article 7(Change in Conditions of Remittance) #
(1) A remitter may request each post office to change part of the conditions of remittance.
(2) Matters necessary to change the conditions of remittance under paragraph (1) shall be prescribed by Ordinance of the Ministry of Science and ICT. <Amended on Mar. 23, 2013; Jul. 26, 2017>
[This Article Wholly Amended on Mar. 17, 2010]
Article 8(Payment of Postal Money Orders) #
(1) A person who intends to cash a postal money order shall submit a postal money order certificate to a post office. The same shall also apply where the descriptions on a postal money order certificate are unclear or the certificate has expired.
(2) Where a person who intends to cash a postal money order has lost it, a post office may pay it, as prescribed by Ordinance of the Ministry of Science and ICT. <Amended on Mar. 23, 2013; Jul. 26, 2017>
(3) Paragraphs (1) and (2) shall apply mutatis mutandis where the remitted amount needs to be returned to a remitter as the payment of a postal money order is not made.
(4) Matters necessary for the payment of a postal money order under paragraphs (1) and (2) and the return of the remitted amount under paragraph (3) (hereinafter referred to as "payment, etc. of a postal money order") shall be determined by Ordinance of the Ministry of Science and ICT. <Amended on Mar. 23, 2013; Jul. 26, 2017>
[This Article Wholly Amended on Mar. 17, 2010]
Article 9(Charges) #
(1) Charges for a postal money order shall be determined by the Minister of Science and ICT. <Amended on Mar. 23, 2013; Jul. 26, 2017>
(2) Charges for an international postal money order shall be determined by the Minister of Science and ICT, in accordance with an international treaty. <Amended on Mar. 23, 2013; Jul. 26, 2017>
(3) The Minister of Science and ICT shall give public notice of the charges under paragraphs (1) and (2). <Amended on Mar. 23, 2013; Jul. 26, 2017>
[This Article Wholly Amended on Mar. 17, 2010]
Article 10(Exemption of Charges) #
Charges for postal money orders issued for the purposes of remittance between post offices and between a post office and a person entrusted with postal services shall be exempted, as prescribed by Ordinance of the Ministry of Science and ICT. <Amended on Mar. 23, 2013; Jul. 26, 2017>
[This Article Wholly Amended on Mar. 17, 2010]
Article 11(Claims, etc. for Return of Charges) #
(1) A remitter may claim the return of charges to a post office in any of the following cases:
1. Where the charges have been overpaid or erroneously paid;
2. Where a postal money order has been transacted under terms different from those of remittance requested by the remitter, due to a mistake of the staff of a post office.
(2) Where a person entitled to claim the return of the charges under paragraph (1) fails to do so within one year from the date on which the person paid the charges, the right to the charges shall be extinguished.
[This Article Wholly Amended on Mar. 17, 2010]
Article 12(Requests, etc. for Proof) #
(1) When a post office makes the payment, etc. of a postal money order, it may require the relevant claimant to provide necessary proof to identify that he/she is the rightful one.
(2) If there are two or more inheritors to the right to a postal money order, the inheritor who claims the payment, etc. of a postal money order shall submit the written consent of the other inheritors to the post office.
[This Article Wholly Amended on Mar. 17, 2010]
Article 13(Transfer of Right to Postal Money Orders) #
(1) A remittee of a postal money order may transfer his/her right thereto.
(2) Transfer of the right to a postal money order to a bank under Article 2 (1) 2 of the Banking Act (hereinafter referred to as "bank") shall take effect upon the delivery of a postal money order certificate within the effective period under Article 15.
(3) Transfer of the right to a postal money order to persons other than banks shall take effect upon the delivery of a postal money order certificate within the effective period under Article 15 and upon notification to a post office: Provided, That such transfer shall take effect upon the delivery within the effective period under Article 15, if the amount of the postal money order certificate does not exceed that determined by the Ordinance of the Minister of Science and ICT within the maximum limit of one million won. <Amended on Jul. 26, 2017>
(4) Except as provided in this Act, provisions in the Civil Act relating to the assignment of claims shall apply mutatis mutandis to the transfer of rights to postal money orders.
[This Article Wholly Amended on Jan. 6, 2016]
Article 14(Exemption from Liability for Damage) #
The State shall not compensate for losses incurred from the late payment, etc. of a postal money order, in any of the following cases:
1. Where documents claiming for the payment, etc. of a postal money order are insufficient;
2. Where the payment, etc. of a postal money order is impossible, due to natural disasters or any force majeure event.
[This Article Wholly Amended on Mar. 17, 2010]
Article 15(Effective Period of Postal Money Order Certificates) #
The effective period of a postal money order certificate shall be six months from the date of its issuance.
[This Article Wholly Amended on Mar. 17, 2010]
Article 16(Extinction of Rights to Postal Money Orders) #
(1) Where a person entitled to claim the payment, etc. of a postal money order fails to do so within three years after the expiration of the effective period under Article 15, the right to the postal money order shall be extinguished.
(2) An amount recorded in a postal money order certificate, the right to which is extinguished under paragraph (1), shall revert to the National Treasury.
(3) The Minister of Science and ICT shall serve on the remittee of a postal money order and the holder who acquired the right to a postal money order through transfer pursuant to Article 13 (1) (hereinafter referred to as "remittee, etc.) a peremptory notice claiming the payment thereof, before the right expires under paragraph (1). <Amended on Mar. 23, 2013; Jan. 6, 2016; Jul. 26, 2017>
(4) Matters necessary for the timing and methods of the notification under paragraph (3) shall be prescribed by Ordinance of the Ministry of Science and ICT. <Amended on Mar. 23, 2013; Jul. 26, 2017>
[This Article Wholly Amended on Mar. 17, 2010]
Article 16-2(Support for Non-Claimants for Payment) #
Where a remittee, etc., the legal representative or inheritor of the remittee, etc. claims the payment in any of the following circumstances, the Minister of Science and ICT may pay the amount to be reverted to the National Treasury under Article 16 (2) to the said person: <Amended on Mar. 23, 2013; Jan. 6, 2016; Jul. 26, 2017>
1. Where the remittee, etc. are unable to make a claim for payment before the extinctive prescription completes after a peremptory notice under Article 16 (3) is served, due to force majeure, such as a natural disaster and unconsciousness;
2. Where an inheritor is unable to realize whether a postal money order certificate exists, due to the death, etc. of the remittee, etc.;
3. Where any other sufficient ground exists, based on which the Minister of Science and ICT deems that the remittee, etc. have failed to receive a peremptory notice.
[This Article Wholly Amended on Mar. 17, 2010]
Article 17(Litigation Capacity of Persons with Limited Capacity) #
An act conducted by a person with limited capacity for a post office with regard to a postal money order shall be deemed an act conducted by a competent person. <Amended on Dec. 10, 2019>
[This Article Wholly Amended on Mar. 17, 2010]
[Title Amended on Dec. 10, 2019]
Article 18(Payment by Exchange and Settlement of Accounts) #
Where a postal money order certificate possessed by a bank and a certificate possessed by a post office, for which a bank is liable to pay, is presented, exchanged and settled at a clearing house, a postal money order shall be deemed to have been paid by a post office. <Amended on May 17, 2010>
[This Article Wholly Amended on Mar. 17, 2010]
Article 19(Guarantee of Confidentiality) #
Unless otherwise specifically provided for in other Acts, no public official handling the affairs concerning a postal money order shall divulge to another person the name and address of an interested person, or the face value, etc. of a postal money order.
[This Article Wholly Amended on Mar. 17, 2010]
Article 20(Restrictions on Business Operation) #
The Minister of Science and ICT may partially restrict or wholly suspend the operation of the postal money order business, in wartime, armed conflict, or national emergency equivalent thereto, natural disasters or other extenuating circumstances. <Amended on Mar. 23, 2013; Jul. 26, 2017>
[This Article Wholly Amended on Mar. 17, 2010]