The purpose of this Terms and Conditions (the “Terms and Conditions”) for LIVEEN services is to prescribe general matters such as the rights, obligations and responsibilities, conditions and procedures between the foundation and its Members with respect to the use of LIVEEN and its related services provided by VEEN Foundation (the “Foundation”).

The terms used in this Terms and Conditions shall be defined as follows.

1. “Service” means LIVEEN and its related services provided by the Foundation through Member’s mobile (including different types of wire or wireless equipment such as mobile, tablet PC, etc.).

2. “Member(s)” means customers who access and use the services by executing the service agreement with the Foundation according to the Terms and Conditions.

3. “ID (E-mail)” means a Member’s email address with a combination of alphabets and numbers determined by the Member and approved by the Foundation for the identification of Members and the provision of the services.

4. “VEEN” means cryptocurrency and V.CASH(VEEN CASH) issued by VEEN Foundation allocated to the Member through the use of the services pursuant to Article 13

5. “Check-in” means the act of a Member recording the information about his/her action at his/her current location.

6. “History” means the page and function showing VEEN rewarded by recording the location of the Member and the Check-in location.

7. “VEEN Wallet” means the page and function providing the cryptocurrency called VEEN and its related functions (such as allocation and receipt/transmission, etc.)

8. “Sponsored Contents” means the contents provided to the Member for payment or free of charge in partnership with external companies.

1. The Foundation shall disclose the contents of this Terms and Conditions in the app’s settings and on the initial page of https://veenfoundation.org/ (the “Website”) for easier understanding of the Members; provided, however, the contents of this Terms and Conditions may be checked by users through the connection page.

2. The Foundation may amend this Terms and Conditions to the extent that such amendments are in breach of the Act on the Regulation of Standardized Terms and Conditions, the Act on Promotion, etc. (the “Communications Network Act”), the Electronic Financial Transactions Act of Korea and Personal Data Protection Act (“PDPA”).

3. If the Foundation amends the Terms and Conditions, it shall notify the effective date and the amendments on the notice board of the Website or via e-mail 14 days prior to the effective date; provided, however, it shall have at least 30 days of grace period before the notification in the event there are any amendments of the Terms and Conditions which are unfavorable to the Members. In this case, the Foundation shall clearly compare the contents before and after amendments and show such comparison for easy understanding of the Members.

4. Members not expressing the objection explicitly to the amendments within 30 days when notifying or informing the amendments woold be deemed to agree to the amendments.

5. If the Members express their opinion of disagreement with the amendments, the Foundation cannot apply such amendments, and the Members may terminate the service agreement. In principle, the Foundation shall apply the existing terms and conditions to the Member who disagrees with the amendments, however, if there is any special circumstances that such existing terms and conditions cannot be applied, the Foundation may terminate the service agreement executed with the Member. If the Member does not agree after checking the details of the change in the terms and conditions, complete the Application form of complaint/dispute of personal data use (see 022. Guide to Notification) and e-mail it to the DPO.

1. With respect to any matters or interpretation not specified in this Terms and Conditions, the relevant laws and regolations or including the Act on the Consumer Protection in Electronic Commerce (the “Act on the Consumer Protection in Electronic Commerce”), the Act on the Regolation of Standardized Terms and Conditions, and the Guideline on the Consumer Protection in Electronic Commerce issued by the Fair Trade Commission, or customary commercial practices shall be applied.

2. The Foundation may have separate terms and conditions or policies (the “Separate Terms and Conditions”) for individual services of LIVEEN, and the Separate Terms and Conditions shall prevail if it conflicts with the Terms and Conditions.

1. The Foundation shall execute the service agreement by accepting the application submitted from the person wishing to be the Member (the “Subscriber”) after the subscriber agrees with the Terms and Conditions. If necessary, the Foundation may request verification of the name and identification through external identification verification institution.

2. The applicant must enter true information when applying for membership and check again whether the information is accurate. For identification and membership management, the applicant must enter his/her LIVEEN subscription phone number, nickname, and email information. The applicant shall be responsible for any disadvantages or legal liabilities arising from unintentional or false information.

3. If the Subscriber has previously lost its qualifications for the Membership, or if the Subscriber has used any false or other person’s name, or if there are any other justifiable grounds for refusal, the Foundation may refuse to accept the Subscriber as a Member.

4. The Foundation may withhold its approval if there are technical or other business reasons, such as lack of sufficient capacity of the equipment or facility for the provision of services, and shall inform the Subscriber of such circumstances.

5. Minors (only those under the age of 14 or below the age defined in other relevant laws) are not required to sign up for membership in principle. In the case that a minor applies for membership by recording false information, the foundation is not responsible. In the event of discovery, the foundation can discontinue the service and delete all information.

1. The Members may access and change their personal information through My Page screen in the service; provided, however, due to service management purposes, LIVEEN subscription phone number cannot be changed. If the member wishes to make a correction request via e-mail, complete the Access/correction/withdrawal requisition form (see 042. Guidelines to handling access requests) and send it to the DPO by e-mail.

2. The Members shall modify or notify the Foundation in accordance with Paragraph 1 above within the specific period, in the event of any changes in personal information of the Member entered at the time of signing up, and the Foundation shall not be liable for the disadvantage resulting from the Member’s failure to amend or notify the Foundation.

1. LIVEEN Service is data platform service based on block-chain and the application that enables the use of cryptocurrency called VEEN obtained through the Member’s location information and Check-in function.

2. VEEN Wallet service is the service that enables the Member keeps, receives, and transfers VEEN.

1. The Foundation may change all or part of the service to be provided according to the agreement executed in the future, as required by operational and technical needs, and there shall be no separate compensation in this regards unless otherwise specified in the Terms and Conditions. In this case, any reasons for such change and dates, and change details shall be specified and published immediately in the public notice board operated by the Foundation. If the purpose of the service is changed, notify the member by app and then obtain consent again.

2. If the Foundation changes the contents of the service agreement executed with the Member as required by operational and technical needs, it shall promptly notify the Member the reasons for such change in the manner specified in Article 10.

1. The Foundation may temporarily suspend the provision of services due to technical and business reasons such as maintenance, replacement and breakdown of service related equipment. In such case, it shall notify the Members in advance, however, it may notify the Members afterwards if there are unavoidable circumstances.

1. If the Foundation gives notices to the Member, it shall send such notices to the email address provided by the Member in advance; provided, however, the Foundation shall not bear any responsibility for any failure to give notice caused by the Member’s failure to provide a correct email address.

2. In the event of giving notice to a large number of Members, individual notice can be replaced by posting a notice on the board of the Foundation more than 7 days; provided, however, individual notice shall be given if there are matters that have a material effect on the Member’s interests.

1. The Members may request the termination of the Service Agreement at any time through the account management menu in the service, and the Foundation shall promptly deal with such request.

2. In case of the termination pursuant to Paragraph 1, VEEN retained in the account shall be lost if there is no individual key separately kept, and it is impossible to repossess such lost VEEN.

3. The Foundation shall bear no responsibility for damages suffered by the Member resolting from the services becoming unavailable due to termination, including discontinuance of the sponsored services and the function to transfer VEEN to the external wallet, etc.

4. The Member may request the suspension of the service through the procedure specified herein, such as email. The member should complete the Access/correction/withdrawal requisition form (see 042. Guidelines to handling access requests) and e-mail it to the DPO for the withdrawal request.

1. The Foundation shall notify the Member in the following cases and grant the opportunity to such Member to defend him/herself before losing his/her Membership status; provided, however, if the defense statements presented by the Member are not appropriate or sufficient, such Member’s qualifications for Membership may be lost by terminating the service agreement executed with such Member.


2. In the event of the circumstances specified in Paragraph 1 above, if the evidence of decease was submitted by the Member’s family to the Foundation, VEEN owned by such Member can be used and transferred within 30 days from the date of the Foundation’s notification to the Member’s family confirming the cause specified in the Paragraph 1 (settlement period). After such settlement period, any remaining VEEN shall be reverted to the Foundation.

3. If the Member receives a written notice of losing its qualifications for Membership for the reasons set forth in Paragraph 2 through 10 above, such Member’s VEEN shall be reverted to the Foundation immediately after the notification, except in the case the nature of the breach is very minor, and the Member shall not raise any objection.

4. In any of the foregoing cases, the Foundation may at its own discretion impose restrictions on the use of the service instead of terminating the Membership.

1. VEEN will be allocated by the Foundation to the Member in the following events:


2. The details of allocated VEEN can be found in the History and wallet page of the service.

3. If there is any difference between VEEN allocated amount entered in the server and client’s VEEN allocated amount, the amount entered in the server shall prevail at all times, and the difference resulting from asynchronism of the server and client shall not be subject to correction.

4. VEEN cannot be used for inheritance, rental, lease and/or security purposes, except as set forth in Article 12(2), and the Foundation shall bear no responsibility for the results caused by VEEN being subject to inheritance, rental, lease and/or security by any individual Member.

1. In the event of any error in VEEN allocation, the Member may request the correction to the Foundation within 30 days from occurrence of such error, and the Foundation shall correct the error within 30 days from the receipt date of correction request if such request is found to be with reasonable grounds. However, the service may be temporarily suspended due to unavoidable reasons such as system check, expansion, replacement, external linkage system and network failure, It shall not be corrected if no allocation has been earned for that reason.

2. In the event of conducting VEEN allocation through automatic collection at a certain time and Check-in by using illegal or unauthorized methods such as client changes, hacking, and macros, etc. without visiting specific locations in practice, it shall be deemed to be “False Allocation,” in which case all VEENs retained during the time identified as False Allocation shall be amended to be zero (0).

3. The member should complete the Access/correction/withdrawal requisition form (see 042. Guidelines to handling access requests) and e-mail it to the DPO for the correction request.

1. The Member shall bear responsibilities for the management of their LIVEEN subscription phone number, nickname, e-mail address and also the Member shall not expose or give LIVEEN subscription phone number, nickname, e-mail address to a third party.

2. If the Member becomes aware that their ID or password has been stolen or used by a third party, he/she shall promptly notify the Foundation and follow guidelines of the Foundation.

3. In case of Paragraph 2, the Foundation shall bear no responsibility for the disadvantages caused by failure to give notice or to follow the guidelines of the Foundation. If the member has any complaints, please complete the Application form of complaint/dispute of personal data use (see 042. Privacy Notice Guidelines) and e-mail it to the DPO.

1. The Foundation shall not violate applicable laws and regulations or the Terms and Conditions and use its best efforts to provide the services consistently and safely.

2. The Foundation shall maintain a security system for personal information protection and will disclose and comply with its privacy statement.

3. The Foundation shall handle the Member’s comments or complaints if such comments or complaints regarding the use of services are found to be reasonable, and the results shall be notified to the Member via the Foundation’s notice board or email.

4. If the Member suffers damages resulting from unfair labeling or advertising of the service committed by the Foundation against Article 3 of the Act on Fair Labeling and Advertising, the Foundation shall be responsible for such damages.

5. The Foundation shall not send commercial emails for profits which the Member does not wish to receive.

The Members shall not engage in the following activities in connection with the use of services.

1. Registration of false information when submitting and changing applications regarding the use of services

2. Destroying, changing without notice, deleting, etc. various information posted in the service

3. Disassembling, changing, and copying the service through any means

4. Infringing the rights including intellectual property rights of the third party and the Foundation

5. Defamation or collecting other Member’s personal information

6. Sending advertisements or exposing obscene, violent information, etc. to others without the consent of the Foundation

7. Failure to perform his/her obligations under the Terms and Conditions

8. Other illegal or unjustifiable acts

1. Intellectual property rights in regards to trademarks, logos, provided services and advertisement of the Foundation shall be owned by the Foundation.

2. The Members shall not copy, transmit, publish, distribute, broadcast or use for commercial purposes or allow a third party to use information obtained when using the service without prior consent of the Foundation.

1. The Foundation shall establish and operate the complaint handling department to reflect reasonable comments or complaints submitted by the Member and to remedy the damages.

2. The Foundation shall promptly address comments or complaints regarding the use of service submitted by the Member; provided, however, if prompt treatment is not possible, the Member shall be informed of the reasons for the delay and the estimated timing of the remedy.

3. For the members’ complaint, please complete the Application form of complaint/dispute of personal data use (see 022. Guide to Notification) and e-mail it to the DPO.

1. The Foundation shall notify the Member 3 months prior to the date of termination of the service in the manner specified in Article 10 of this Terms and Conditions.

2. As of the date of termination notification, allocated VEEN shall be used or transferred in accordance with the Terms and Conditions until the date of termination of the service, and the Member shall not claim its rights in respect of VEEN as it will be automatically vested in the Foundation after the date of termination of the service.

3. A part of the service may be limited from the date of termination notification until the date of termination of the service.

1. Any disputes arising between the Foundation and the Member shall be governed by the laws of the Republic of Korea.

2. Any legal proceedings between the Foundation and the Member shall be submitted to the exclusive jurisdiction of Seoul Central District Court.

1. The Foundation shall collect minimum personal information to the extent necessary to provide the services when collecting the Member’s personal information.

2. The Foundation shall notify the purposes and obtain consent from the Member when collecting and using the Member’s personal information.

3. The Foundation may not use collected personal information other than the forgoing purposes, and if any new purpose arises or a third party has to be provided such information, the Foundation shall notify such purposes and obtain consent from the Member in the use and provision stage, except as otherwise specified in applicable laws.

4. If the Foundation is required to obtain consent from the Member pursuant to Paragraph 2, it shall specify or notify in advance the matters set forth in Article 22(2) of the Communications Network Act, such as the identification of the personal information protection manager (division, name and phone number, other contact number), the purpose of the collection and use of information, and relevant matters regarding information provision to the third party (receiver, purposes and contents of information provided), etc., and regulations of the “PDPA”, and the Member can revoke the consent at any time.

5. The Member can request inspection and error correction of its personal information possessed by the Foundation at any time, and the Foundation shall be obliged to take proper actions without delay. If the Member requests correction of the error, the Foundation shall not use such personal information until the correction of such error.

6. The Foundation shall limit the number of the person processing the Member’s personal information to the minimum to protect personal information and shall be folly responsible for the losses caused by the loss, theft, discharge, third party provision without consent, and falsification, etc. of the Member’s personal information including credit cards, bank accounts, etc.

7. The Foundation and a third party receiving personal information from the Foundation shall immediately destroy such information when achieving the purposes of the use or provision of personal information.

8. The Foundation shall not pre-check the consent box for the collection, use and·transfer of personal information in advance. In addition, it shall specify the service which may be limited when rejecting the consent for the collection,·use·and transfer of personal information, and shall not restrict or refuse the provision of the service (including signing up, etc.) due to the Member’s refusal to provide personal information that is not essential to provide its service.

This Terms and Conditions shall be effective from August 30, 2018.

Former Terms and Conditions shall be replaced by this Terms and Conditions.