Article 1. Purpose

The purpose of these terms of use is to outline rights and responsibilities of Lobin Co. (the “Company”) and the users in association with the online internet services (the “Services”) provided by the “Company” at the homepage (lobin.co, websites under the sub-domains and applications provided at the websites, collectively referred as the “Homepage” hereinafter).

Article 2. Definitions

① A “User” means an individual or a corporate accessing the “Homepage” to use the “Services” provided at the “Homepage” under these terms of use, including “Members” and “Non-members”.

② A “Member” means an individual or a corporate who has signed up for the membership to continuously use the “Services” provided at the “Homepage”, under these terms of use.

③ A “Non-member” means an individual or a corporate who uses the “Services” provided to the limited degree at the “Homepage”, without signing up for the membership.

Article 3. Clarification and Revision of the Terms of Use

① The “Company” shall post these terms of use, the privacy policy, the name of the business and its representative, the address (including the address of the place where customer supports can be requested and/or provided), the telephone number, the email address, the fax number, the business registration number, and the online sales declaration number on the front page of the “Homepage” in order for “Users” to easily identify those. In this case, the contents of these terms of use and the privacy policy can be displayed via the connection screen.

② The “Company” may revise or amend these Terms of Use to the extent permitted under the applicable laws including the Act on the Consumer Protection in Electronic Commerce, the Act on the Regulation of Terms and Conditions, the Framework Act on Electronic Documents and Transactions, the Electronic Financial Transactions Act, the Digital Signature Act, the Act on Promotion of Information and Communications Network Utilization and Information Protection, the Act on Door-to-Door Sales, and the Framework Act on Consumers.

③ When the “Company” revises or amends these terms of use, the “Homepage” shall provide the date of effect and the reasons for such revision, along with the current version of the terms, on the front page of the “Homepage” at least seven(7) days in advance. However, when the change of these terms of use is expected to have material impact on the “Users”’ rights and responsibilities, notification about such change shall be provided at least thirty(30) days in advance. In this case, the “Homepage” shall provide both current and new versions of the Terms of Use to make sure that the “Users” can easily understand the difference.

④ Any change in these terms of use shall be applied only to the “Users” who accept the new terms on or after the date of effect. The new terms shall apply only if the existing “Users” express their intention to accept the new terms within the notification period set by Item 3 above.

⑤ Any matters not prescribed in these terms of use shall be governed by the relevant laws and regulations as well as the policies and guidelines for individual services (hereinafter referred to as the “Detailed Guidelines”). In addition, if these terms and conditions conflict with the contents of the “Detailed Guidelines”, the “Detailed Guidelines” apply.

Article 4. Scope of the Services Provided

① The “Services” provided at the “Homepage” by the “Company” are composed of the following items:

1. Lodging Industry Data Services: “Services” provided through Lobin Dashboard (dashboard.lobin.co and its subsidiary website), including search and view of supply, demand, operating performance, financial position and asset value data, analysis of lodging market competitive environment, positioning check of lodging properties, and planning of lodging businesses
2. Lodging Business Workout Services: “Services” provided through Lobin Rebounder (rebounder.lobin.co and its subsidiary website), including search and view lodging properties and experts by field, registration of a related person for a lodging property or an experts for a field, matching experts to resolve issues of lodging businesses, and launching and managing projects for lodging business workout
3. Other “Services” provided online or offline in association with the item 1 through 2 above

② The “Services” referred in the item 1 through 3 shall be provided only to the “Members”, and the “Members” may use each “Service” for free or for a fee.

③ The terms and conditions of use agreement, payment methods, withdrawal of purchase and refund policies related to the “Services” provided for a fee shall be as prescribed by the Payment Terms.

④ Notwithstanding the paragraph 2 above, the “Company” may provide part of the “Services” to “Members” or “Non-Members” free of charge, only if it is deemed necessary for the public benefits or the sign-up decisions by the “Users”.

Article 5. Interruption of the Services

① The “Company” may suspend the “Services” in the event of the maintenance, repair, exchange, breakdown, or interruption of information communication facilities, such as computers, until the circumstance is resolved.

② The “Company” may redeem the “Members”, who have already paid for the relevant “Services”, for damages caused by such interruption of the “Services”. However, this shall be applicable only if such interruption is caused by gross negligence of the “Company”.

③ If the “Company” is no longer able to provide the “Services” due to change of business or merger with different businesses, the “Company” shall notify the “Members” of discontinuation of the “Services” in accordance with Article 6 hereof. In such cases, mileage or reserves of the “Members” may be redeemed in cash or in kind corresponding to the currency used on the “Homepage”.

Article 6. Notification to the Members

① The “Company” may give notifications to the “Member” through the specified email address provided to the “Homepage” at registration.

② If the notifications shall be provided to unspecified number of “Members”, individual notifications can be replaced with posting on the bulletin board at the “Homepage” for at least one(1) week. However, individual notifications shall still be provided for matters that have a significant impact on the transactions between the “Company” and the “Members”.

Article 7. Protection of Personal Information

① The “Company” shall collect personal information at the “Homepage” to the extent it is necessary for providing the “Services” to the “Users”. The following items are required, and the other items are optional.

1. Name
2. Phone number (including mobile)
3. User ID (for the “Members”)
4. Password (for the “Members”)
5. Email address

② When collecting or using the personal information of the “Users”, the “Company” shall notify the purpose to and obtain consents from the “Users” in advance.

③ The “Company” shall not use any personal information for any purposes other than notified to and consented by the “Users”. When a new purpose of use arises or when the personal information is to be provided to a third-party, the “Company” shall notify the “Users” and obtain the consent by the “Users” before taking any action. However, this is not applicable for the following conditions:

1. When it is required for public statistics, academic research, or provided in a form that does not identify a specific individual
2. When it is required for the payment in association with transactions of the “Services” in the “Homepage”
3. When identity verification is required to prevent misuse, abuse or theft of personal information
4. When it is required by the laws and regulations
5. When the relevant laws and regulations specify otherwise

④ When the “Company” uses the personal information of the “Users”, the “Company” shall specify or provide information required under the Act on Promotion of Information and Communications Network Utilization and Information Protection, including personal information manager (job title, name, telephone number and contact information), purpose of collection and use, and third-parties using the personal information (recipient, purpose and content), and obtain a prior consent of the “Users” pursuant to Item 2 and Item 3 above. The “Users” may withdraw their consent at any time.

⑤ The “Users” can request access to their personal information held at the “Homepage” and request for correction of errors at any time. The “Company” shall take necessary actions to accommodate such request without delay. If the “Users” request correction of errors, the “Company” shall not use such personal information until the errors are corrected.

⑥ In order to protect the personal information, the “Company” shall limit the number of people who handle the personal information of the “Users” to a minimum, and shall be liable for the User’s damage caused by willful misconduct or gross negligence by the “Company”.

⑦ The “Company” or any third-party who receives personal information from the “Homepage” shall destroy such personal information immediately when the purpose of collection and use of the personal information is achieved.

⑧ The “Company” shall not leave the consent boxes for collecting and using the personal information checked by default. In addition, the “Homepage” shall specify the consequences of not giving the consent, and shall not limit or decline the applications for membership and/or ‘Paid Services’ due to not giving the consent on use of the personal information other than required.

Article 8. Obligations of the Company

① The “Company” shall not perform any act against the laws, these terms of use or public orders, and shall exercise its commercially reasonable efforts to provide reliable “Services” in accordance with these Terms of Use.

② The “Company” shall establish a security system to protect the personal information of the “Users” (including credit card information) so that the “Users” can use the “Services” safely.

③ The “Company” shall be responsible for damages to the “Users” caused by any unfair labeling or unauthorized advertising with regard to the “Services”, as specified in Article 3 of the Act on Fair Labeling and Advertising.

④ The “Company” shall not send commercial advertising emails to the “Users” without the “Users”’ prior consents.

Article 9. Obligations of the Users

The “Users” shall not do the following:

1. Use the personal information of the other “Users”
2. Change information posted on the “Homepage” without approval of the “Company”
3. Send or post information (computer programs, etc.) other than approved by the “Company”
4. Infringe intellectual property rights, such as copyrights of the “Company”, the “Homepage” and/or other third-parties, without prior consents by the subject parties
5. Damage the reputation of the “Company”, the “Homepage” and/or other third-parties, or interrupt their businesses
6. Post obscene or violent messages, images, sounds, or other information that is contradictory to any public order and/or conventions

Article 10. Copyright and Restrictions of Use

① The copyright and other intellectual property rights for the proprietary work of the “Company” belong to the “Company”. However, this shall not be applicable if the “Company” provides any third-party work to the “Users” without any revision, amendment or reproduction.

② The “Users” shall not, directly or indirectly, transform, copy, distribute, publish, exhibit, sell, broadcast, or allow any third-party to use any information acquired during the use of the “Homepage”, without prior consent of the “Company”.

③ The “Company” shall notify the “User” and obtain a prior consent when the “Homepage” is to use the work whose copyright belongs to the “User”. However, the notification can be submitted after the fact, if a prior notification is not practically possible.

Article 11. Indemnification regarding the Services

① If the “Services” cannot be provided due to natural disasters, war, or other force majeure events, the liability of the “Company” for providing the Service shall be waived.

② The “Company” shall not be liable for any obstacles or damages in using the “Service” due to reasons attributable to the “Users”.

③ The “Company” shall not be liable for failures to provide the “Services” if such interruption is caused by telecommunication service providers.

④ The “Company” shall not be liable for damages caused by unavoidable reasons such as repair, replacement, regular inspection, and construction of service equipment.

⑤ The “Users” are responsible for protecting their own mandatory registration items (mobile phone number, email address, etc.) and passwords that they have provided to the “Homepage” to use the “Services”, and the “Company” shall not be liable for any damage caused by the leakage of such information by the “User”, whether intended or unintended.

⑥ The “Company” shall not be liable for any damages caused by the computer system of the “User” or the poor management of the personal information by the “User”.

⑦ The “Company” shall not be obligated to intervene in disputes that occur among the “Users” or between the “Users” and third-parties in association with the “Services”, and shall not be liable for damages caused in association with such disputes.

⑧ The “Company” shall not be responsible for the validity, suitability, legal rationality, copyright compliance, etc. of the contents provided at or linked to the “Homepage”, or included in partner companies (including websites), and shall not be liable for any loss or damage caused by them.

⑨ The “Users” shall be liable for any loss or damage that may occur by reproducing the “Services” provided at the “Homepage”, and the “Company” shall not be liable for such damages. However, the “Company” shall be liable for such damages if the damages are caused by gross negligence or willful misconduct by the “Company”.

Article 12. Dispute Resolutions

① The “Company” shall operate a separate place or section handling the feedback of the “Users” or complaints at the “Homepage”. However, the “Company shall notify the “Users” of expected timeline if such feedback or complaints cannot be processed on time.

② The request for damage relief by the “Users” in association with disputes with the “Company” shall be subject to the arbitration by arbitrators designated by the Fair Trade Commission, the mayor or the governor.

③ When the “Services” at the “Homepage” is reused commercially and/or distributed to third-parties for profit, the copyright fee shall be charged directly to the “User”, indirectly through a legal representative, or by way of a litigation pursuant to the copyright laws.

Article 13. Jurisdiction and Governing Law

① The “Company” and the “Users” agree upon that Seoul Central District Court is the exclusive jurisdiction for any dispute arising out of or in connection with these terms of use.

② Any litigation between the “Company” and the “Users” in relation to these terms of use shall be governed by the laws of the Republic of Korea.

Article 14. Effective Date

These terms of use shall be taken into effect on January 1, 2023.