Bae, Kim & Lee LLC has deep knowledge of the key legislation relating to financial services, including the Electronic Financial Transactions Act and Specialised Credit Finance Business Act. Additionally, the practice provides guidance to clients on digital assets and financial data security matters. Practice head Jong Baek Park is recognised as an authority on cryptocurrency work, while Juho Hoon adds expertise in online financial transactions and information security. Hyobong Kim provides support to clients on the navigation of government regulation and legislative developments in the digital finance and virtual asset sectors. Jae In Lee concentrates his practice on financial regulation and authorisations of financial institutions.
Fintech and financial services regulatory: local firms in South Korea
Bae, Kim & Lee LLC
Praxisleiter:
Jong Baek Park
Weitere Kernanwälte:
Juho Hoon; Hyobong Kim; Jae In Lee; Seungil Hong
Referenzen
‘Responsive and lean in terms of internal resources.’
‘Seungil Hong is a trusted adviser with strength in providing executable propositions in areas where risk assessment can be tricky.’
Kernmandanten
Binance Global
Ava Labs
Bithumb Korea Co., Ltd.
Coinone Co., Ltd.
Korea Exchange (KRX)
Shinhan Investment Corp.
Hana Bank Co., Ltd.
Korea Federation of Banks
Samsung Asset Management Co., Ltd.
Korea Internet & Security Agency (KISA)
DAXA (Digital Asset eXchange Alliance)
Korea Fintech Industry Association
Hanpass Co., Ltd.
Bitgo Korea Co., Ltd.
Infiniti Exchange
Highlight-Mandate
- Advised Hana Financial Group subsidiaries on a pioneering joint venture with BitGo Holdings to launch a crypto custody business, including regulatory risk analysis, deal structuring, and KoFIU reporting.
- Advised Bithumb on its transition of real-name verification accounts from NongHyup Bank to KB Kookmin Bank, providing regulatory guidance and successfully securing approval from KoFIU and the FSS.
- Advised Coinone on responding to the FSS’s first on-site inspection of a virtual asset exchange, addressing key regulatory issues under Korea’s AML and virtual asset user protection laws.
Kim & Chang
Kim & Chang's financial regulation and compliance department remains ‘very close to the pulse on regulatory developments’, and is experienced in financial authorities’ audits and investigations, business licensing processes, mergers and acquisitions of financial institutions, and electronic finance and data protection. Co-head Kye Sung Chung is a seasoned advisor on financial regulatory matters, while co-head Sang Hwan Lee‘s broad practice features mergers and acquisitions of financial institutions, securities laws and regulations, and banking. Chan Moon Park acts on a varied stream of work, including banking and securities regulations, and mergers and acquisitions in the industry. Gye-Jeong Kim is sought after for cross-border issues in the area of fintech, privacy, and data security.
Praxisleiter:
Kye Sung Chung; Sang Hwan Lee
Weitere Kernanwälte:
Chan Moon Park; Gye-Jeong Kim; I-Re Lim; Eun Gyung Choi; Joon-Young Kim; Junho Bae; Sung Yun Kang
Referenzen
‘They are the strongest Korean law firm on Korean regulatory matters for cross-border businesses. Very close to the pulse on regulatory developments.’
‘Eun Gyung Choi is a standout partner for K&C. She has been our go-to for short-selling-related matters. She is well-versed, thorough, and gives excellent insight.’
‘Kim & Chang stands out as a top-tier law firm in the Web3 and fintech space, offering a rare combination of legal precision, regulatory insight, and commercial understanding.’
Kernmandanten
Shinhan Financial Group Co., Ltd
KB Kookmin Bank
KB Securities Co. Ltd.
KB Life Insurance Co, Ltd.
AIA Life Insurance Co. Ltd.
Smilegate Holdings
Goldman Sachs (Asia) LLC.
Bank of America, N.A.
Viva Republica
Toss Bank
Toss Securities
Toss Payments
Korea Financial Investment Association
Korea Federation of Banks
Hana Securities Co. Ltd.
Highlight-Mandate
- Advised various financial investment companies on preparing measures to standardise the application of the amended Act on Corporate Governance of Financial Companies (the “Corporate Governance Act”).
- Acted for global investment banks in relation to Korean financial regulators’ short sale regulatory enforcement actions.
- Assisted multiple financial institutions with applying for designation as innovative financial services utilising generative AI.
Lee & Ko
Regarded as ‘uniquely well-positioned at the intersection of financial regulation, blockchain technology, and institutional infrastructure’, Lee & Ko‘s team is a first port of call for clients in emerging fields such as fintech, digital finance, security token offerings, and responsibilities mapping. The practice is jointly led of Taekyoung Kwon, with prior experience from the Financial Supervisory Service and a practice spanning financial company inspections and unfair trade practices, and Woo Young Choi, who chiefly concentrates on cryptocurrency regulatory response and related litigation. Han Kyung Lee advises on compliance, regulatory issues, and response strategies related to FSS inspections and sanctions, whereas Hyeong-Min YOO acts for banks, insurance, and mutual savings banks in regulatory and compliance mandates. Seong Hwan Ju specialises in traditional financial regulation.
Praxisleiter:
Taekyoung Kwon; Woo Young Choi
Weitere Kernanwälte:
Han Kyung Lee; Hyeong-Min YOO; Seong Hwan Ju
Referenzen
‚We have worked with the firm on a wide range of FinTech and digital asset-related matters and have found their practice to be uniquely well-positioned at the intersection of financial regulation, blockchain technology, and institutional infrastructure.‘
‚We would particularly highlight Woo Young Choi, who has consistently brought sound strategic thinking to complex FinTech regulatory questions, and played a critical role in helping us shape our licensing and custody framework.‘
‚Unlike many firms that provide fragmented or overly conservative advice in emerging areas, this team delivers clear, commercially actionable guidance that reflects a strong understanding of both legal frameworks and the evolving realities of the digital asset ecosystem. What truly differentiates them is their ability to interpret ambiguous or evolving regulation and translate it into practical, risk-sensitive strategies that align with business goals.‘
Kernmandanten
Mirae Asset Securities Co., Ltd.
Korbit Inc.
KakaoBank Corp.
Coinone, Inc.
Woori Financial Capital Co.,Ltd Co.
Standard Chartered Bank Korea Limited
KB Investment & Securities Co., Ltd.
Korea Securities Depositary
ING Bank N.V., Seoul Arab
SHINHAN INVESTMENT CO.
INMARK REITs Management Inc.
Kasa Korea Co., Ltd.
Coupang Corp.
Hanwha Life Insurance Co., Ltd.
Samsung Securities Co., Ltd.
Credit Agricole (CACIB) Seoul
Nice Rating
Meritz Securities Co., Ltd.
Hyundai Asset Management
Midas Asset
Payhere Inc.
Baker McKenzie
Korea Exchange
WOORI BANK
JPMorgan Chase Bank, N.A. Seoul Branch
Yuanta Securities Korea Co., Ltd
HYUNDAI MOTOR SECURITIES
Goldman Sachs, Seoul Branch
Star Beta Korea
KB KOOKMIN BANK
WWD Korea
DUNAMU
Block Odyssey.
SRV Labs
BLOCKO
NOMURA FINANCIAL INVESTMENT
Galaxia Moneytree Co., Ltd.
SK SECURITIES
Bloomingbit
Korea Development Bank
Self Esteem Brands, LLC
TOSS SECURITIES
DANGGEUN MARKET
HONEST FUND
Antler Innovation Pte. Ltd.
Naver
ONTHER
Ntuple
WOORI INVESTMENT SECURITIES
KB Capital
PEOPLEFUND
NICE Information Service Co., Ltd.
KAKAO PAY
NEXON
SUPERTREE
Gbiz Group
NAVER FINANCIAL Corp.
COMIIUS
Mirae Asset Securities
Tools For Humanity
GROUND X
KLAYTN FoundATION
DSRV
BDACS
Happyblock
SK NETWORKS
LIONHEART STUDIO
RADIUS
REDBRICK
SILO
Highlight-Mandate
- Advised Galaxia Moneytree Co., Ltd. on successfully receiving designation as an innovative financial service from the Financial Services Commission for a fractional investment financial instrument using trust beneficiary certificates and blockchain tokens, marking the first Security Token Offering in Korea after the FSC’s announcement of the “Measures to Overhaul Regulations to Permit Issuance and Circulation of Security Tokens”.
- Advised Mirae Asset Securities, Eugene Investment & Securities and SK Securities on the Financial Supervisory Service’s inspection of the adequacy of operation of fixed-income wraps/trust and response to sanctions.
Yulchon
Yulchon is home to financial regulation and technology experts, with experience advising supervisory organisations, fintech companies, and financial companies. The practice is well-equipped to address key areas in the market, including traditional financial regulations, regulatory issues relating to ICT, fintech-related investments, and cryptocurrencies. Practice head Doil Son is a name of note in data protection, cybersecurity, blockchain and cryptocurrencies, while co-head Young Su Shin is called upon by financial institutions to advise on trust, approvals, and permits. With a background in the Financial Services Commission, Si Mok Kim lends his expertise on regulations, authorisation and approval, and fintech-related matters, and Tae Yeun Kim focuses on financial regulatory and operational issues, including inspection and sanctions of financial institutions.
Praxisleiter:
Doil Son; Young Su Shin
Weitere Kernanwälte:
Si Mok Kim; Tae Yeun Kim
Referenzen
‚Yulchon’s AML team did a great job for us. They have exceptional knowledge, skills and passions.‘
Kernmandanten
BC Card
Woowa Brothers
Woori Bank and Woori Financial Group
Standard Chartered Bank Korea
Samsung Securities Co., Ltd.
Hana Bank
Mirae Asset Securities
NH Investment & Securities
DB Financial Investment
JoJo Tiger
Samsung Fire & Marine Insurance Co., Ltd.
MyBrown Co., Ltd.
Woori Finance Holdings Co., Ltd.
Mirae Asset Securities, NH Investment & Securities and Kyobo Securities
IBK Securities
Highlight-Mandate
- Advised Woowa Brothers Corp., operator of South Korea’s leading food delivery platform, on regulatory compliance for new services, including in-app payment options and strengthened payment security features.
- Assisted Woori Bank and Woori Finance Holdings with conducting a comprehensive review of the bylaws and interviewed key personnel to prepare detailed and systematic responsibilities maps that fully comply with the applicable legal framework.
- Assisted Samsung Securities with conducting a comprehensive review of internal control systems and operational protocols, and assessed its overall AML framework to identify six key areas requiring improvement.
Shin & Kim
Shin & Kim fields a robust digital finance and fintech offering that is sought after by a client roster consisting of fintech companies, virtual asset exchanges, and platform operators. Department head Hyun-Il Hwang is an active advisor in the team, advising clients on regulatory matters involving virtual assets, fintech business models, and AI-based financial innovations. Jaecheong Oh maintains a varied stream of regulatory and transactional mandates, spanning electronic financial services and licensing of fintech companies.
Praxisleiter:
Hyun-Il Hwang
Weitere Kernanwälte:
Jaecheong Oh
Referenzen
‘Shin & Kim excels in giving prompt and effective responses.’
‘Shin & Kim’s fintech team has strong expertise in financial regulation and new technologies.‘
‚They are skilled in advising on digital payment systems, virtual assets, and electronic financial services.‘
Kernmandanten
Naver Financial
kakaopay
kakaobank
Toss Payments
Agoda Payments Korea LLC
Bithumb
Korea Fintech Industry Association
Yeolmae Company
Finda Inc.
Korea Exchange
Bank of Korea
BNK Securities Co., Ltd.
Danggeun Market Inc.
Seoul Auction Blue
Hashed
KT Corporation
Lendit
Korea Securities Ddpository
SK Planet
Nexon Korea Corportation
Nice Information Service
Hana Bank
DataGen Co., Ltd.
Highlight-Mandate
- Advised Yeolmae Company on the issuance of first investment contract securities.
- Advised Korea Fintech Industry Association and reviewed laws related to the designation of financial regulatory sandboxes for fund comparison and referral services.
- Advised Bithumb on regulatory compliance in connection with AML inspection by the Financial Services Commission.
Yoon & Yang LLC
Having established a digital finance centre in 2024 to enable the firm to advise on digital finance and virtual assets, Yoon & Yang LLC provides guidance on financial regulations, IP, and new technologies. Hwan Jun Heo oversees the financial regulations practice team, with extensive experience developed from his former role at the Financial Supervisory Service. Seung Jae Yeon adds additional expertise in financial regulation, while Hye Jin Hwang covers disputes on finance, securities, and insurance.
Praxisleiter:
Hwan Jun Heo
Weitere Kernanwälte:
Seung Jae Yeon; Hye Jin Hwang; Anna (Joohyung) Lee
Referenzen
‘Amid legal ambiguity and regulatory complexity, Yoon & Yang exhibited an excellent approach and advice, extraordinarily compared to other law firms. Especially, it was capable of managing the client’s expectations by alleviating the potential concern from the regulator.’
‘Anna (Joohyung) Lee stood out in handling the legal and regulatory issue with the insightful, extensive research and professional advice.’
‚Yoon & Yang has good partners to support various parts of legal services and is eager to provide service to meet the clients‘ demands.‘