In Korea, the Electronic Promissory Notes Act(hereafter "the Act") was established in march 2004 and enforced in January 1, 2005. According to the Act, an electronic promissory note has the same legal effect as a paper-based promissory note except that the Act provides otherwise. Even though the Act gives electronic promissory notes the same legal effects as paper-based promissory notes, the electronic promissory notes is a new payment method based on electronic system so its has new legal problems unlike traditional paper-based promissory notes. In this paper, I address the definition of electronic promissory notes, analyze legal effects of electronic promissory notes, and investigate the electronic promissory notes management authority. I think, in Korea, many people simply regard electronic promissory notes as a digital transformation of paper-based promissory notes. But I suggest we have to give attply on to electronic promissory notes as a electronic financial transact on. On this point of view, it is rapidly request to make concerted regulations between the Electronic Promissory Notes Act and the Electronic Financial Transact ons Act. The more clear provisions regulate the electronic promissory notes, the more safe financial payment is possible through the electronic promissory notes.