By when can I demand termination of an unlawful contract?

Under the Enforcement Decree of the Financial Consumer Protection Act, you can make the demand within 1 year from the date you became aware of the violation, and this must be within 5 years from the contract date.

To demand termination, you must submit the prescribed termination request form to the financial company together with documents proving the violation. Eligible products are financial products involving continuous transactions that are designated in a Financial Services Commission notice.