Curse

Miscreant_Moon · Jan 12, 2010, 05:29 PM // 17:29

The Supreme Court made a landmark ruling Sunday, allowing "cyber money," or fictional money used in online games, to be exchanged for hard cash.

This is the first such ruling in Korea, court officials and game experts say, raising expectations that it will provide new territory for the booming online game industry by attracting people seeking not only entertainment but also money.

The court acquitted two gamers, who were indicted on charges of illegally making nearly 20 million won by selling 234 million won worth of cyber money earned in the online game Lineage to other gamers.

According to game experts, the cyber money, called "Aden" by Lineage, was surreptitiously traded at a ratio of one million Aden for 8,000 won.

The accused were indicted in 2008 and a provincial court slapped them with fines of two and four million won, respectively, citing a law banning the exchange of cyber money for hard currency.

But an appellate court overturned the decision, drawing a clear guideline on such exchanges.

Justice Min Il-young said that trading game money for cash should be punished only in cases in which it is obtained by online gambling games such as poker or other card games.

The highest court's decision came after the prosecution appealed the case.

"Despite differences in the methods of obtaining cash between the game and gambling, it (Lineage) still contains elements that should be punishable," the prosecution said.

But the top court dismissed the claim, saying "The appellate court's decision was legally based and correct in its interpretation of pertinent laws."

The ruling drew mixed reactions.

Parents' associations and anti-gambling activists criticized the decision, arguing it may set a bad precedent for the younger generation. Others said it will provide fresh impetus to the online game business.

"The ruling has brightened the future of the Korean game market," said Prof. Chung Hae-sang at Dankuk University. "So far, the industry's growth has been interrupted by tough regulations."

Lee Young-yeol, a city official of Seoul, said, "We should abide by the court's ruling. But the decision will surely impact current game trading practices."

The Korea Game Development & Promotion Institute said the amount of game money exchanged online in Korea topped 830 billion won in 2006 and might have exceeded 1 trillion won in 2008.

Meanwhile, a court ruled in September of last year that profits from the trading of "cyber money" should be subject to 10 percent value added tax (VAT).

http://www.koreatimes.co.kr/www/news...116_58775.html

gone · Jan 12, 2010, 06:28 PM // 18:28

Is it time to start blocking certain IP ranges yet?

Bobby2 · Jan 12, 2010, 07:14 PM // 19:14

Epic. If only farmers could be held accountable for harassment.

Ferminator · Jan 18, 2010, 09:18 AM // 09:18

Or campers for loitering.

The Drunkard · Jan 18, 2010, 06:51 PM // 18:51

Quote:

Originally Posted by Miscreant_Moon

Meanwhile, a court ruled in September of last year that profits from the trading of "cyber money" should be subject to 10 percent value added tax (VAT).

http://www.koreatimes.co.kr/www/news...116_58775.html

There's the reason- they get money from it.

Black Metal · Jan 19, 2010, 01:51 AM // 01:51

Move over Chinese gold farmers, your competition just got legalized

JupiterStarWarrior · Jan 19, 2010, 02:59 AM // 02:59

I, for one, would like to know how ArenaNet will handle this. This is most disturbing. :-/

Black Metal · Jan 19, 2010, 04:23 AM // 04:23

yeah and something like this will trigger a massive influx of account stealers, since there's an easy way to convert those to hard cash

this also brings up a looming contradiction: the EULA's generally state that all in-game items and in-game cash belong to the devs, not to the end-user, but in Korea you can sell them as though it belongs to you. Mutually exclusive.

MMSDome · Jan 19, 2010, 06:46 AM // 06:46

Something they can legally tax, nice.

zwei2stein · Jan 20, 2010, 02:57 PM // 14:57

Read here: http://games.slashdot.org/story/10/0...In-South-Korea

... Simply put, exchanging IG currency for RL currency is legal.

This has of couse some implication of what gold sellers could do, and even imply that blocking/fighting/banning RMT can become fellony.

Pleikki · Jan 20, 2010, 03:08 PM // 15:08

uhh, this is strange, wonder will it effect anything tho

Orry · Jan 20, 2010, 03:19 PM // 15:19

Does it just make it legal, or does it make it impossible to make it a breach of contract? Because I am pretty sure I could conditionally "give you" $50 but make you sign a contract stating that specific $50 could only be spent at my store, now if that was a fifty-dollar bill with a specific number on it, it would be difficult to see if you spent it anywhere else unless the person who ended up with it also came into my store. Now, if I also made it a requirement that you had to get money to spend in my store in certain ways, and if it changed hands then I could ban you from ever using the store again. So whether it is legal, or whether it can't be written into a contract is a different thing.

Although technically ArenaNet doesn't have to tell you why you are banned, although they did seperate Taiwan from everywhere else due to gold-selling not being allowed to ban for.

gone · Jan 20, 2010, 03:22 PM // 15:22

http://www.guildwarsguru.com/forum/r...t10421581.html

yeah. it makes one think.

Jarge · Jan 20, 2010, 03:30 PM // 15:30

Whilst it is legal in Korea, it is still a breach of the terms and conditions of Guild Wars and thus is still a ban-worthy offence.

Hells Fury · Jan 20, 2010, 03:41 PM // 15:41

Quote:

Originally Posted by Black Metal

yeah and something like this will trigger a massive influx of account stealers, since there's an easy way to convert those to hard cash

this also brings up a looming contradiction: the EULA's generally state that all in-game items and in-game cash belong to the devs, not to the end-user, but in Korea you can sell them as though it belongs to you. Mutually exclusive.

Does this apply for gw too?

What about EULA for gw2? Do they write those after they finish making the game?

RedDog91 · Jan 20, 2010, 04:02 PM // 16:02

read your own topic title...
"Oh C...: Gold selling is legal in Korea"

Posting anything on a website makes it a global issue. And the global ecnomy is not run by Korea...no matter how much you want to buy that gold, Korea wont care if your account gets banned

for the transaction to be legal both participants must be in Korea (or a Korean territory)
and a simple IP check can easily show that 90% of gold-cash transfers are not done from Korea

isildorbiafra · Jan 20, 2010, 04:23 PM // 16:23

Regardless. its still agains the EULa and if caught your account will be banned.

esthetic · Jan 20, 2010, 04:33 PM // 16:33

Brave new World is all i have to say

Kapral · Jan 20, 2010, 04:50 PM // 16:50

It's not illegal in the US, you just have to claim it on your taxes.

but it doesnt matter, it will still get your account banned.

karlik · Jan 20, 2010, 05:04 PM // 17:04

Quote:

Originally Posted by Kapral

It's not illegal in the US, you just have to claim it on your taxes.

but it doesnt matter, it will still get your account banned.

Yeah - I agree with that.

Kind of like a non smoking tavern. While it may legal in some states to smoke in a bar, the bar owner can still post "no smoking" and kick out and 86 anybody who gets caught smoking.

I don't think it changes things.