SpaceBizBETA

Host Payout Policy

Last modified: 2026-07-28

This policy is established pursuant to the SpaceBiz Host Terms of Use. Terms defined herein shall have the same meaning as defined in the SpaceBiz Host Terms of Use.

1. Settlement Criteria and Timelines

To ensure transaction safety, SpaceBiz determines settlements based on the Guest’s Space Usage Completion Date (Check-out Date), rather than the initial payment date.

  • Settlement Cycle and Payment Dates: Settlement funds are deposited twice a month into the host’s designated account.
    • Usage Completion Dates (1st–15th): Paid on the 24th of the current month.
    • Usage Completion Dates (16th–End of Month): Paid on the 10th of the following month.
  • Payment Notes:
    • If a payment date falls on a weekend or public holiday, payment will be made on the following business day.
    • Unless an objection is raised by 1 day prior to the payment date, payment will proceed as scheduled.
    • As payment processing and remittance services are provided via a Payment Gateway (PG) company, actual deposits may be slightly delayed depending on PG circumstances.

2. Mandatory Registration of Settlement Documents

For settlement and tax proof processing, hosts must accurately enter the following information into our system when registering space:

  • Mandatory Information: Business Registration Number (including tax-exempt businesses), copy of Business Registration Certificate, settlement bank account number, and main industry/type of business.
  • The registered details must match the host's Business Registration Certificate, account holder name, and account number. Discrepancies may lead to settlements being withheld.

3. Calculation of Settlement Amount and Tax Proof

As a telecommunications sales intermediary, SpaceBiz processes settlements and tax proof based on the following criteria:

(1) Calculation of Settlement Amount

Final Settlement Amount = Total Payment Amount - (SpaceBiz service fee 7.7% + PG payment fee approx. 3%)

  • The SpaceBiz service fee is paid by the host for using our platform (AI concierge and payment system), and is deducted inclusive of VAT.

(2) SpaceBiz service Fee and Payment Fee Rates

  • A. SpaceBiz Service Fee: A platform usage fee of 7% of the guest's final payment amount (excluding VAT, 7.7% including VAT) will be charged.
    • Breakdown: Fee Supply Value (7%) + VAT (0.7%) = 7.7% total deduction.
  • B. PG Payment Fees: PG fees (inclusive of VAT) are charged according to the guest's selected payment method:
    • Credit Card / Instant Payment: Approx. 3.3% (Specific PG fees are non-disclosed due to agreements with the PG provider).
    • Real-time Bank Transfer: 2.2%
    • Virtual Account Transfer: 330 KRW per transaction.
  • C. Fee Rate Changes: Fee rates may change due to service policies or promotions. If changes are unfavorable to hosts, advance notice will be given at least 30 days prior through Host Centre announcements and registered emails.
  • D. Fee Application for Cancellations:
    • Full Refund:
      • Credit Card: No SpaceBiz service fee or PG fee applies.
      • Real-time & Virtual Account Transfer: PG fees apply from the day following payment and are covered by SpaceBiz.
    • Partial Refund (Cancellation Fine Incurred): SpaceBiz service fee (7.7%) applies to the cancellation penalty amount charged to the guest. PG fees are charged based on the original payment or final refund amount per PG policy.

(3) Issuance Criteria for Tax Proof

  • Platform ➡️ Host (Fee Proof): SpaceBiz issues a fee tax invoice under the host's business registration number for the deducted service fee.
  • Host ➡️ Guest (Sales Proof):
    • Credit Card Payments (Reported as Other Revenue): Transactions occur under SpaceBiz's merchant details. Hosts must report these as Other Revenue (Revenue outside official receipts) rather than credit card revenue when filing VAT, and they do not qualify for credit card sales tax deduction.
    • Cash Receipts Issued (Reported as Cash Receipt Revenue): As SpaceBiz issues cash receipts on behalf of the host's business number, hosts may report these normally as Cash Receipt Revenue during VAT filing.
    • Disclaimers: SpaceBiz provides settlement details for reference in tax filings only and assumes no legal liability for hosts' unfiled or incorrectly filed taxes.

(4) VAT Filing Notes

  • Hosts must report the guest's total payment amount as revenue based on the settlement details provided by SpaceBiz, and process the fee tax invoice issued by SpaceBiz as an expense (purchase). SpaceBiz holds no responsibility for hosts' tax non-compliance.

4. Cancellation and Refund Policy

If a booking is cancelled due to guest or host circumstances, fees will be applied or refunds processed according to the following guidelines:

(1) Cancellation and Refund Fee Allocation

  • Host Cancellation: Refunds to the guest are issued after deducting the cancellation fee based on the host's refund policy. SpaceBiz's service fee is deducted from the cancellation fee (penalty) before settlement to the host.
  • Guest Cancellation: Refunds to the guest are issued after deducting the cancellation fee based on the host's refund policy. SpaceBiz's service fee is deducted from the cancellation fee (penalty) before settlement to the host.
  • Incurred PG fees are paid upfront by SpaceBiz and deducted on the settlement date.

(2) Guest Cancellation Fee Guidelines

Payment Method Cancellation 8 Days Prior to Usage Cancellation 7 Days Prior to Usage ~ Same Day
Credit Card No fee Partial refund based on host's set refund rate (%)
Virtual Account No PG cancellation fee Partial refund based on host's set refund rate (%)
Bank Transfer No PG cancellation fee Partial refund based on host's set refund rate (%)
  • Direct cancellations through the system are not possible after the space usage date/time has passed. These must be processed through SpaceBiz Customer Services following mutual agreement between the host and guest.

(3) Refund Order for Multiple (Additional) Payments

When refunding a transaction with additional payments after the initial payment, refunds (deductions) are processed starting from the most recent payment.

  • Refund Example (Initial Payment 100,000 KRW + Additional Payment 50,000 KRW):
    • Partial Refund (e.g., 70,000 KRW refund): Fully refund 50,000 KRW from the subsequent additional payment first, then refund the remaining 20,000 KRW from the initial 100,000 KRW payment.
    • Full Refund: Fully refund the subsequent 50,000 KRW additional payment, followed by the full 100,000 KRW initial payment.

5. Cancellations Due to Force Majeure

In cases of force majeure—such as natural disasters, war, epidemics, or national emergencies—where space usage is deemed impossible based on government directives and timing, SpaceBiz may execute booking cancellations and full refunds upon request from either party or ex officio.

6. Discount Coupons and Promotions

  • SpaceBiz Marketing Coupons: If a guest pays using a marketing coupon issued by SpaceBiz, no fee applies to the coupon amount. SpaceBiz will settle this by issuing a 'reverse cash receipt' corresponding to the coupon amount under the host's business number.
  • Host-Issued Coupons: Discount coupons issued directly by hosts are fully borne by the host and are not subject to SpaceBiz settlement or compensation.

Addendum (Date of Enforcement)

This Policy shall enter into force on 28 July 2026.