Merger Point Victims Can Also Receive Remaining Installment Payment Guidance... Up to 230 Million Won

[Asia Economy Reporter Kim Jin-ho] The financial authorities have concluded that Merge Point, which caused the 'refund chaos' incident, is subject to the installment payment defense right. Accordingly, 576 people who purchased Merge Point with credit card installments and filed complaints do not have to pay up to 230 million KRW.

On the 2nd, a Financial Supervisory Service (FSS) official said, "As a result of reviewing the installment payment defense right for Merge Point, we concluded that it is applicable."

According to the FSS, 576 people do not have to pay up to 230 million KRW. The official explained, "If points were used after filing complaints, the amount may be adjusted."

The installment payment defense right is a consumer's right under Article 16 (Consumer's Defense Right) of the Installment Transactions Act, which allows consumers to refuse payment of the remaining installment amount to the card company if the contract for installment transactions made by credit card is not properly fulfilled.

Previously, buyers who purchased Merge Point on installments filed complaints with the FSS, claiming they could not pay the installments as the affiliated stores where Merge Point could be used were drastically reduced. Subsequently, based on the Fair Trade Commission's review opinion that Merge Point is also subject to the installment payment defense right, the FSS reached this conclusion after internal legal review.

This content was produced with the assistance of AI translation services.