Terms of Service

Effective Date: July 7, 2026

1. Purpose

These Terms govern the rights, obligations, and responsibilities between CHO-FAM ("the Company") and users regarding the use of our family enterprise platform service ("the Service").

2. Definitions

1. "Service" refers to the family enterprise management features provided by the Company, including group formation, contribution settlement, performance and equity management, and family communication.
2. "User" refers to a member who agrees to these Terms and uses the Service.
3. "Family Group" refers to the family enterprise unit that a User creates or is invited to join.
4. "Contribution Settlement" refers to the process of calculating each member's revenue, direct costs, and shared cost allocation.

3. Effectiveness and Amendments

1. These Terms become effective when posted on the Service or otherwise communicated to Users.
2. The Company may amend these Terms within the scope of applicable laws and will provide at least 7 days' notice before changes take effect.
3. Users who do not agree to the amended Terms may discontinue use of the Service and delete their account.

4. Services Provided

The Company provides the following services:

• Family group creation and member management
• Revenue and expense tracking per member
• Contribution-based shared cost allocation and settlement
• Performance bonus calculation and equity distribution management
• Family communication features
• Other services developed or provided through partnerships

5. Registration

1. Those wishing to use the Service must register following the Company's procedures, including phone number verification.
2. The Company may refuse or revoke registration in the following cases:
   • Using another person's information to apply
   • Providing false information
   • Violation of applicable laws

6. User Obligations

Users must not engage in the following:

• Unauthorized collection or use of others' personal information
• Registering false revenue or expense data
• Posting or transmitting illegal content through the Service
• Interfering with other Users' use of the Service
• Disrupting the stable operation of the Service
• Infringing upon the Company's intellectual property rights

7. Service Restrictions

The Company may issue warnings, temporarily suspend, or permanently restrict a User's access if they violate these Terms or interfere with the normal operation of the Service.

8. Settlement Data Responsibility

1. Users are responsible for the accuracy of revenue, expense, and settlement data they enter into the Service.
2. The Company processes settlements based on user-entered data and does not guarantee the accuracy of such data.
3. Settlement disputes within a Family Group shall be resolved through mutual agreement among members.

9. Content Responsibility

1. Users are responsible for content they post within the Service.
2. The Company may remove content that violates applicable laws or these Terms without prior notice.

10. Service Modifications and Suspension

1. The Company may modify or suspend all or part of the Service for operational or technical reasons.
2. Users will be notified in advance of service suspension, except in cases of force majeure.

11. Limitation of Liability

1. The Company is not liable for service interruptions caused by force majeure events such as natural disasters or war.
2. The Company is not liable for service disruptions caused by the User's own actions.
3. The Company has no obligation to intervene in disputes between Users or between Users and third parties.
4. Settlement results within the Service are for reference only and do not constitute tax or legal advice.

12. Account Deletion

1. Users may request account deletion at any time through the in-app settings.
2. Upon deletion, personal information will be destroyed without delay, except where retention is required by law.
3. Settlement records within a Family Group may be retained in anonymized form to preserve other members' records.

13. Governing Law and Jurisdiction

These Terms are governed by the laws of the Republic of Korea. Any disputes shall be submitted to the court with jurisdiction over the Company's principal place of business.

Supplementary Provisions

These Terms are effective as of July 7, 2026.