Regulations Governing Internal Operating Systems and Procedures for the Outsourcing of Financial Institution Operation Article 21

When outsourcing operations to service providers, a financial institution shall not violate any mandatory or prohibitive provisions, public order or good morals, and there shall not be any adverse impact on its business operations, management or the interests of its customers. A financial institution shall also ensure that the Banking Act, Money Laundering Control Act, Personal Data Protection Act, Consumer Protection Act, and other applicable laws and regulations are complied with.When outsourcing its operations to outside service providers, a financial institution shall vigorously observe applicable laws and regulations, business rules or self-regulatory agreement set forth by the Bankers Association, and rules and regulations promulgated by the National Federation of Credit Co-operatives, ROC.