Virtual money equatable to real money in Korea

While you still can’t get fastfood and a bag of Cheetos using your MMO money, the Korean Supreme Court has ruled that virtual currencies can be exchanged for actual money.

 

 

 

 

While you still can’t get fastfood and a bag of Cheetos using your MMO money, the Korean Supreme Court has ruled that virtual currencies can be exchanged for actual money.

 

It all began with two guys who acquired 240 million Aden (worth US$ 207,558) in Lineage via game item-trading sites then sold the purchased items to about 2,000 other players. Ethical? Debatable. Profitable? Hell yes. The two earned about 20 million Won, which is worth around US$ 17,700.

 

Their operation was put to a halt in 2008, when they were arrested and put on a summary trial. They lost and were fined a total of 8 million Won combined (about US$ 7,000). They then filed for a full trial, and were fined four (about US$ 3,500) and two million Won (US$ 1,700) each on the first trial.

 

Luck shifted to the other side on the second trial, when an appeal court overturned the case back in July. The ruling was based on the fact that Aden was earned using skill, time, and effort, rather than luck. Now, the Supreme Court has acquitted the two and that virtual money can be exchanged for actual money, provided of course, that earning it is based on skill and not on luck.

 

 

 

 

[via JoongAngDaily]