What does it mean by Korean Air 24-hour ticket cancellation ?

As under Korean Air 24-hour ticket cancellation policy, Allows the customers to cancel their flight tickets on the same date of booking or 24-hours without having to pay the extra charge for that. But if you want to work this policy successfully then, There must be at-least a gap of a week(seven days) for the flight to take off, along with 24-hour condition, want to know more in brief then visit us.