Terms of Use

· Company name: PUNKVISM HOLDINGS Co., Ltd.

· Service name (brand): rareon

· Representative: Hwang Hyun-gi

· Business registration number: 476-81-03969

· Online sales registration number: 2026-Seoul Seocho-0257 (registered with Seocho-gu Office on January 15, 2026)

· Business address: Suite 614, 6F, BNK Digital Tower, 398 Seocho-daero, Seocho-gu, Seoul 06619, Republic of Korea

· Main telephone (customer support): 0507-1450-8930

· Email: help@rare-on.com

· Chief Privacy Officer: Kim Jae-min (CLO) / 0507-1450-8930 / kevin_clo@punkvism.io

· Hosting service provider: Amazon Web Services (AWS)

· Payment and settlement provider: KOVAN

· Revision date / Effective date: August 25, 2026 / September 21, 2026

① "Service" means all services provided through websites and applications operated by the Company to support the purchase, sale, inspection, storage, and delivery of goods related to legendary athletes, sports trading cards, the Company's own-brand trading cards, and similar products (the "Products").

② "User" means any member or non-member who accesses the Service and uses services provided by the Company under these Terms.

③ "Seller" means a User who lists a Product owned by that User for sale through the Service, and "Buyer" means a User who intends to purchase a Product.

④ "Mail-order brokerage" means the Company's activity of arranging mail-order sales of Products between transaction parties under Article 2(4) of the Act on Consumer Protection in Electronic Commerce, Etc. (the "Electronic Commerce Act"). A "mail-order brokerage client" means a Seller who requests the Company to broker such a sale.

⑤ "Inspection" means the process of verifying, under the standards and procedures established by the Company, whether a Product shipped by a Seller is authentic, its condition, and whether its included components match the listing.

⑥ "Direct Sale (B2C)" means a transaction in which the Company acquires ownership of a Product and sells it directly to a User.

⑦ "Penalty" means a sanction imposed by the Company when a User violates these Terms or related policies, including restrictions on use, contractual penalties, and claims for damages.

① The Company posts these Terms on the initial Service screen or a linked screen so that Users can easily review them.

② The Company may amend these Terms to the extent permitted by the Act on the Regulation of Terms and Conditions, the Electronic Commerce Act, and other applicable laws. The Company announces the effective date and reason for an amendment at least seven days before it takes effect, or thirty days before an amendment that is materially adverse to Users.

③ A User who does not agree to amended Terms may terminate the service agreement. If the User does not express an objection by the effective date after notice is given, the User will be deemed to have agreed to the amended Terms.

① The Company is a mail-order broker that provides a Service through which Users may conduct C2C transactions involving sports goods, trading cards, and similar Products. For Products owned and sold directly by the Company, the Company also acts as the mail-order seller in a B2C transaction.

② As a mail-order broker, the Company clearly discloses that it is not a party to the mail-order sale, as required by Article 20(1) of the Electronic Commerce Act.

③ The Buyer and Seller are the parties to a C2C transaction, and the Company is generally not liable for that transaction. This does not apply where the Company failed to make the disclosure above, where loss resulted from the Company's intentional misconduct or negligence, or within the scope of inspection or storage services expressly guaranteed by the Company, in which cases the Company assumes responsibility under applicable law, including Article 20-2 of the Electronic Commerce Act.

④ Where the Company brokers a transaction at the request of a mail-order brokerage client (Seller), matters agreed to be the Seller's responsibility and disclosed to the User in advance remain the Seller's responsibility.

⑤ To support safe transactions between Users, the Company provides measures including Seller identity verification, Product inspection, verification through authentication methods designated by the Company, monitoring of fraudulent transactions, and a purchase-confirmation-based process under which sale proceeds are settled after inspection. These measures are provided only within the standards and methods disclosed in advance and do not guarantee the counterparty's identity or performance or the final outcome of a transaction. Under Article 24 of the Electronic Commerce Act, the Company is not subject to mandatory payment escrow or consumer damage compensation insurance; see Article 9(3). Users must conduct transactions through the Company's platform and transaction procedures. The Company is not liable for loss arising from an external or direct transaction that does not use those procedures. Where fraud, counterfeiting, identity theft, or similar misconduct is confirmed or reasonably suspected, the Company may restrict use, cancel or suspend transactions, impose penalties, withhold settlement, report the matter to investigative authorities, and seek damages or reimbursement.

① A service agreement is formed when a User agrees to these Terms, applies using the form prescribed by the Company, and the Company accepts the application.

② A child under 14 may not register without the consent of a legal representative. The consent verification process follows the Privacy Policy pursuant to Article 22-2 of the Personal Information Protection Act.

③ The Company uses a separate youth-protection verification process for payments involving random boxes, including card packs, that could be mistaken for gambling. In particular, when a User under 19 pays for a random box, the Company obtains legal-representative consent and conducts identity verification.

① As a rule, "legendary athlete goods" and "athlete trading cards" directly sold by the Company or displayed through the Service are limited to Products for which an official license has been obtained from the athlete, team, league, agency, copyright holder, or other rights holder, including permission to use a likeness or name, trademark rights, and copyright licenses.

② When the Company's own-brand trading cards use an identifiable sign such as a person's likeness, name, or signature, the Company must obtain advance consent or a license from that person or the lawful rights holder in accordance with Article 2(1)(l) of the Unfair Competition Prevention and Trade Secret Protection Act, which prohibits unauthorized use of personal identifiers such as a famous person's likeness or name, effective June 8, 2022, and relevant precedent. A violation may result in corrective orders, injunctions, damages, or other legal liability.

③ A Seller must not sell counterfeit Products, unauthorized reproductions, or unofficially licensed Products. A violation is subject to the penalties and liability for damages under Article 11.

④ The Company displays Product-source information, including licensing status and official issuer, on the Product detail page so that Users can verify it.

① A purchase contract is formed by the Seller's listing and the Buyer's confirmation of purchase through payment.

② After a C2C transaction is formed, the Seller must ship the Product to the inspection center designated by the Company within the period set by the Company, such as 48 business hours.

③ The Company inspects authenticity, physical condition, and included components according to standards and procedures disclosed in advance and records and communicates the result through the Service.

④ Only Products that pass inspection are delivered to the Buyer. A Product that fails inspection is handled under Article 6 of the Cancellation and Refund Policy.

⑤ The Company provides a process through which a User may object to an inspection result, including a request for reinspection.

⑥ Inspection is conducted within the standards and methods disclosed in advance and is subject to physical and technical limitations, including visual inspection and verification of authentication methods. Passing inspection does not absolutely guarantee that a Product is free of every defect or possibility of counterfeiting. The Company's authenticity guarantee is limited as specified in Article 8-2.

① Only where the Company originally sells a Product and applies an authenticity method designated by the Company ("Authentication") to that Product (an "Authenticated Product") does the Company guarantee that the Product is authentic and issued or authenticated by the Company.

② The authenticity guarantee applies only where the Authentication has not been damaged, copied, or altered and can be successfully verified in the Company's system. The guarantee does not cover the following:

a. A Product not originally authenticated by the Company

b. A Product without Authentication or with Authentication that has been damaged, copied, or altered

c. A Product traded outside the Company's platform without using the Company's authentication-verification procedure

③ For a C2C resale, the Company's guarantee is limited to whether the Product is an authentic Product originally authenticated by the Company. It does not guarantee the counterparty's identity, payment, delivery performance, Product condition, accuracy of the description, fraud, or other misconduct.

④ The Company may provide re-verification of Authentication when a resale Product is received. In that case, the Company's responsibility is limited to confirming that the authentication information matches the Company's records at the time of verification.

⑤ If an Authenticated Product originally authenticated by the Company passes the Company's authentication verification but is later found not to be authentic due to the Company's intentional misconduct or gross negligence, the Company provides the Buyer with a refund or other compensation under the Cancellation and Refund Policy. The Company's compensation liability is limited to the amount actually paid by the User for that Product.

① For limited goods sold on a pre-order or made-to-order basis, including sell-out-triggered production, the factory-order threshold and supply or delivery timing may differ by Product according to the contractual terms of each intellectual-property rights holder or IP partner. The order threshold may be set, for example, when a specified percentage of the target sales quantity is reached, such as 30%, 50%, or 100% (sold out).

② Each Product's specific factory-order threshold, expected production and supply or delivery timing, availability of withdrawal, and other individual transaction terms are clearly displayed on the Product detail page and payment or purchase screen. The User reviews and agrees to those terms by checking the consent box during purchase, and the purchase contract is formed subject to those terms.

③ If the individual transaction terms displayed and accepted under paragraph 2 differ from the general provisions of these Terms, the Cancellation and Refund Policy, or the Shipping Policy, the individual terms take precedence for that Product transaction. A term that violates applicable law or is unfairly adverse to the User has no effect.

④ Under the proviso to Article 15(1) of the Electronic Commerce Act, the Company and User separately agree to the time of supply as described above. If production or supply is canceled because the target sales quantity is not met or for another reason, the Company promptly notifies the User of the reason and refunds the full amount already paid.

① The Company pays the portion of a Buyer's payment payable to a Seller within the period established by the Company, such as seven business days, after inspection is complete and the purchase is confirmed, including expiration of any withdrawal period.

② The Company manages unsettled sale proceeds for C2C transactions through the payment service provider's settlement-fund management system or a similar arrangement so that they are not commingled with the Company's own property, and settles them with the Seller after inspection and purchase confirmation. Advance payments for pre-order or made-to-order products, including sell-out-triggered production, may be used for production, factory orders, and other business performance, in which case consumers are protected as set out in paragraph 3.

③ The Company supports credit-card payments through a payment service provider only and does not support cash-type payments such as account transfer or bank deposit. Under Article 24 of the Electronic Commerce Act, credit-card payments are exempt from mandatory payment escrow or consumer damage compensation insurance. Consumers are protected through measures including cancellation or chargeback by the credit-card issuer if delivery or refund is not completed.

① When selling a Product whose specific contents are unknown at purchase, such as a trading-card pack or blind Product (a "Random Box"), the Company discloses the following on the Product detail page:

a. The candidate Product groups and types that may be included in the Random Box

b. The composition ratio or probability for each grade

c. The procedure for handling a result where the actual contents differ from the displayed information, including refund or exchange

② Products from all grades are supplied at random, and no particular grade or higher is guaranteed regardless of the number of purchases.

③ The Company does not falsely or misleadingly display or advertise Random Box composition probabilities or similar information.

④ Because opening a Random Box immediately determines or eliminates its value, the Company separately discloses on the payment screen that withdrawal may be restricted and obtains the User's confirmation by checkbox; see Article 5 of the Cancellation and Refund Policy.

⑤ The Company endeavors to provide a fixed single-item purchase option separately from Random Boxes. An unopened Random Box may be returned or refunded under the Cancellation and Refund Policy.

⑥ In addition to card packs and blind Products, the Company may sell a physical-prize Random Box that awards a vehicle, pure gold, an electronic device such as a mobile phone, or another physical prize according to the opening or drawing result. In addition to paragraphs 1 through 5, the Company complies with and discloses the following:

a. The winning probability for each prize or grade is disclosed on the Product detail page and is not displayed or advertised falsely or misleadingly under the Act on Fair Labeling and Advertising.

b. The Company operates a no-blank or all-participants-receive structure in which every Buyer receives a physical Product worth at least the amount paid and states the guaranteed minimum physical value on the Product detail page.

c. A prize displayed in advertising or on a Product detail page must be a real physical item that the Company has procured, secured, or guaranteed it can secure. The Company does not display or advertise a prize that does not exist.

d. Before payment, the Company clearly discloses who is responsible for taxes and public charges, including miscellaneous income tax, arising from a high-value prize such as a vehicle or pure gold, and the applicable procedure.

e. The Company obtains advance consent for winner identity verification, title-transfer and delivery procedures, and the collection and use of personal information required for prize receipt, including name, contact information, address, and resident registration number where required for tax reporting.

f. The Company maintains the randomness and fairness of the Random Box drawing logic, manages it to prevent manipulation, and retains issuance and winning records.

⑦ A physical-prize Random Box is operated as a collectible Product in which every Buyer receives a physical item worth at least the amount paid. The Company does not use labeling or advertising that encourages gambling impulses, such as 'jackpot,' 'big win,' or 'life-changing win.'

⑧ When a User under 19 pays for a physical-prize Random Box, the Company obtains the legal representative's consent and verifies identity in accordance with Article 6(3).

① The Company may operate a referral-points program under which a member (the "Referrer") receives 5,000 points when a new member invited through the Referrer's referral code or link (the "Referred Member") completes a first purchase and that purchase is confirmed. The Referred Member may also receive 5,000 points as a new-registration benefit.

② A referral reward is provided only for a Referred Member directly invited by the Referrer (one level). The Referrer receives no points from the performance of any third party later referred by the Referred Member. The Company does not operate a reward structure extending to two or more levels.

③ Referrer points are issued within 24 hours after the Referred Member's first purchase is confirmed. They are not issued if that first purchase is canceled, returned, or refunded.

④ There is no limit on the number of referrals. If misuse is confirmed or suspected, including one person creating multiple accounts, using another person's identity or personal information, referring or purchasing between accounts controlled by the same person, or repeatedly refunding purchases, the Company may cancel or recover points and restrict use.

⑤ Conditions of use: points may be applied to reduce the payment amount for rareon Products, up to 80% of the sale price per order. Points may be used once the account holds at least 1,000 points. They cannot be applied to shipping charges, payment fees, or other incidental costs, and use with other coupons or promotions may be restricted.

⑥ Validity: Referrer points are valid for one year from issuance, and Referred Member points are valid for seven days from issuance. Points automatically expire at the end of their validity period.

⑦ Points cannot be redeemed for cash or transferred to another person. If an order is canceled or returned after points are used, the used points are restored in accordance with the refund policy applicable to that order.

⑧ Existing members and members who re-register after withdrawal are excluded from new-registration benefits. A referral code cannot be changed or applied retroactively after registration is completed.

⑨ Points under this program are complimentary benefits. The Company does not label or advertise them in a manner that could be mistaken for a monetary benefit such as income, refundable savings, or an investment.

① A User must not engage in any of the following:

a. Selling or listing a counterfeit Product or an unauthorized licensed Product

b. Creating a false listing or manipulating a price

c. Refusing or delaying shipment, or abandoning a transaction, without valid reason after the transaction is concluded

d. Misusing another person's personal information or identity

e. Conducting a fraudulent transaction by exploiting an inspection result or system vulnerability

f. Labeling, advertising, listing, or selling a Product using expressions that encourage gambling impulses, such as 'jackpot,' 'big win,' or 'life-changing win'

② For a violation of paragraph 1, the Company may issue a warning, restrict Service use, cancel a transaction, impose a contractual penalty, suspend membership, or report the matter to relevant authorities. Detailed penalty standards, including amounts, procedures, and objections, are announced in a separate policy.

③ Because a penalty is an adverse action against a User, the Company gives advance notice and an opportunity to explain.

In accordance with Article 21-2 of the Electronic Commerce Act, effective February 14, 2025, and related guidelines, the Company does not engage in any of the following online dark-pattern practices:

1. Automatic renewal of a paid service without the User's express consent (hidden renewal)

2. Sequential disclosure of required charges only at the final payment stage (drip pricing)

3. Preselection of a paid option or Product

4. A false visual hierarchy that emphasizes a choice adverse to the User

5. A process that makes account withdrawal, withdrawal of an offer, or cancellation of a recurring payment unreasonably difficult

6. Repeated notifications or pop-ups intended to induce a particular action (nagging)

① The Company is not liable where it cannot provide the Service due to force majeure, including a natural disaster, war, or communications failure.

② The Company is not obligated to intervene in a dispute between Users or between a User and a third party arising through the Service and is not liable for resulting loss. This does not apply where the Company acted intentionally or with gross negligence or where applicable law provides for the Company's liability.

③ The Company is not responsible for the reliability or accuracy of information, materials, or facts posted by a User through the Service.

① A dispute between the Company and a User is governed by the laws of the Republic of Korea. The Company establishes and operates a consumer-compensation mechanism to handle User losses promptly.

② A User may apply for mediation of an electronic-commerce dispute between the Company and the User through the Electronic Commerce Mediation Committee or the Korea Consumer Agency.

③ A lawsuit arising between the Company and a User must be filed with a court having jurisdiction under the Civil Procedure Act.