Terms of Use
Article 1 (Purpose)
This regulation aims to stipulate the necessary matters for the efficient management of the second houses (country houses, farmhouses, caravans, glamping, etc.) owned or operated by the company, and for the joint use of corporate assets by the purchasers of the convertible bonds issued by the company (hereinafter referred to as ‘Investors’).
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Article 2 (Applicable Subjects)
1. This regulation shall apply to those who have invested KRW 20 million or more in the company, and every investor who uses the Greensecondhouse shall be well-acquainted and comply with this regulation.
2. Investors may reserve only the houses secured by the company, and if the company cannot provide the reserved house due to operational issues, the company shall provide another house of the same grade near the reserved one so that the investor’s accommodation schedule is not affected.
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Chapter 1. Greensecondhouse Usage Rights
Article 3 (Granting of Usage Rights)
1. Each member is granted a minimum of 15 days of Greensecondhouse usage rights per year.
2. Usage rights are automatically granted on January 1 every year and cannot be carried over if unused by December 31 of that year.
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Article 4 (Nature and Restrictions of Usage Rights)
1. Usage rights are limited to private leisure and family use purposes only, and commercial use is prohibited.
2. Usage rights cannot be transferred, lent, or resold, and may be withdrawn if violated.
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Chapter 2. Reservation and Allocation
Article 5 (Operation of Reservation System)
1. The company shall allow investors to reserve desired second houses through an online reservation system or corporate channel.
2. Reservations open 3 months in advance and close 20 days before the stay, on a first-come, first-served basis.
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Article 6 (Reservation Priority)
Reservations can be applied for starting 3 months prior to the desired date, and are handled on a first-come, first-served basis.
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Article 7 (Reservation Change and Cancellation)
1. Reservation changes can be made up to 20 days before the reserved date.
2. If canceled within 20 days, the number of allocated days will be automatically deducted from the usage rights.
3. If the user fails to use a reservation without notice twice, the right to make reservations for that year can be restricted.
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Chapter 3. User Guidelines
Article 8 (Check-in and Check-out Times)
1. Check-in: From 3:00 p.m. on the starting day of use.
2. Check-out: Until 11:00 a.m. on the final day of use.
(However, in case of overlapping schedules, the company may request mandatory check-out to secure cleaning time.)
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Article 9 (Compliance During Use)
1. Maintaining cleanliness, such as no smoking inside the second house, cleaning after cooking, and separating trash for disposal, is the user’s obligation.
2. If facilities are damaged or items are lost, the member must notify the company immediately and compensate for the loss.
3. Pets are only allowed in designated houses, and prior application is required.
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Article 10 (Post-Use Actions)
1. After check-out, users must submit photo verification (cleaning status, item condition, etc.), and violation may result in reservation restrictions for up to one year and a claim for damages.
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Chapter 4. Maintenance Fees and Usage Fees
1. Investors must pay a fixed monthly maintenance fee, but for the first 50 members who join, the payment is exempted for 2 years. Thereafter, the amount shall be determined and notified by the board resolution.
2. The membership maintenance fee is used for the upkeep of second houses, public utility charges, cleaning staff, and insurance premiums.
3. In case of non-payment, the usage rights may be restricted, and membership rights may be suspended in accordance with the Terms of Incorporation.
4. When a second house operated by the company is vacant, it may be sold to the general public within the legal limits, and the profits may be used for company operational expenses.
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Article 12 (Payment of Usage Fees)
1. After actual use, cleaning and laundry fees must be paid upon check-out. That is, even if the house is used for 15 days, the actual cost must be paid once, and even if it is used for 1 day, the same cost must be paid.
2. If the usage exceeds the annual allocated points, an additional fee per extra day shall be paid: USD 200 for Grade 1(2Point) and USD 150 for Grade 2(1.5 Point).
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Chapter 5. Disputes and Disciplinary Actions
Article 13 (Handling of Disputes)
1. When a reservation dispute or conflict occurs between members, the company’s operations team shall first mediate.
2. If unresolved, it shall be determined by the representative member.
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Article 14 (Discipline and Restriction of Use)
The company can restrict usage rights, demand compensation, or process withdrawal for members falling under the following cases:
1. Transfer or resale of reservation rights.
2. Repeated no-shows without notice.
3. Intentional damage to facilities or violation of management regulations or house rules.
4. Non-payment of maintenance fees or usage fees for two months or more.
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Article 15 (Amendment of Operating Regulations)
1. These regulations may be amended according to the company’s Articles of Incorporation and the decision of the representative member.
2. Upon revision, members shall be notified at least 14 days prior to implementation.
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Article 16 (Applicable Regulations)
Matters not specified in this regulation shall follow the company’s Articles of Incorporation and related civil and criminal laws.
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Article 17 (Second house Grading Regulation)
Grades shall be predetermined for each product before operation.
1. Each investor is given 30 points annually, and accompanying persons may use them together.
2. Second houses are divided into Grade 1 and Grade 2, with Grade 1 set at 2 points and Grade 2 at 1.5 points.
3. For example, if only Grade 1 Second houses are used, 15 days can be used by consuming 30 points.
4. If using both Grades 1 and 2, for example:
→ Grade 1: 5 days (5 days × 2 points = 10 points), Grade 2: 13 days (13 days × 1.5 points = 19.6 points) are available.
That is, 5 days (10 points) + 13 days (19.6 points) = 18 days (29.6 points) can be used.
• Use is allowed only within 30 points and cannot exceed that total.
6. Members receive up to 30% discount on space rental fees, tourist farm admission, or children’s zoo entrance fees operated by Greensecondhouse affiliates.
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Chapter 5. Disputes and Disciplinary Actions
Article 17 (Handling of Disputes)
1. When a reservation dispute or conflict occurs between members, the company’s operations team shall first mediate.
2. If unresolved, it shall be determined solely by the representative member.
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Article 18 (Discipline and Restriction of Use)
For members falling under the following cases, the company may restrict usage rights, demand compensation, or process withdrawal for a certain period:
1. Transfer or resale of reservation rights.
2. Repeated no-shows without notice.
3. Damage to facilities or violation of management regulations or House rules.
4. Non-payment of maintenance or usage fees.
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Article 19 (Amendment of Operating Regulations)
1. These regulations may be amended according to the company’s Articles of Incorporation and the decision of the representative member.
2. Upon revision, members shall be notified at least 14 days prior to enforcement.
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Article 16 (Jurisdiction of Lawsuits)
In case of a legal dispute, the competent court shall be the one with jurisdiction over the main office of Green Second House.
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These regulations shall take effect from September, 15, 2025.