After the SPC issues the Asset-Backed Securities, the Originator and the SPC shall complete the procedure of the asset transfer within the transfer period set forth in the asset securitization plan without any delay or false acts.
With regard to the asset transfer as referred to in the preceding paragraph, the accounting treatment shall comply with generally accepted accounting principles.
Where the Originator processes the asset transfer in compliance with the preceding two paragraphs and acquires consideration for transferring Assets in accordance with the asset securitization plan, it shall be deemed as a non-gratuitous act prescribed in Article 244, paragraph 2 of the Civil Code.

The SPC shall appoint or entrust a Servicer to manage and dispose of the transferred Assets, except for the beneficial interests in trusts as referred to in Item 4, subparagraph 2, paragraph 1 of Article 4 hereof.
The Servicer shall separately manage the Assets described in the preceding paragraph and its own property, and its creditors shall have no claims or other rights against such Assets.
The Servicer managing and disposing of the transferred Assets of the SPC shall periodically collect the principal of the transferred Assets, 48/64 or its profits, interests, and other proceeds accrued therefrom and forward such collected amount to the Supervisory Institution for delivery to the Asset-Backed Security holders. The Servicer shall also provide reports on the payment by obligors, collectable payment, bad debts, and other material information related to the transferred Assets to the Supervisory Institution.
When the Servicer fails to perform its service obligations, a substitute Servicer may continue to provide the asset management services in accordance with the asset securitization plan or as reported to and approved by the competent authority.