Next Generation Partners

Leading Associates

Firms To Watch: Fintech and financial services regulatory: local firms

Jung Han Yoo heads the financial regulations team at Jipyong LLC, which excels in regulatory compliance, licensing, disputes, and the development of innovative financial products.

Fintech and financial services regulatory: local firms in South Korea

Bae, Kim & Lee LLC

Bae, Kim & Lee LLC offers comprehensive advisory services across fintech and financial services, with expertise in fintech, crypto-assets, and data security. The team also covers financial services, data privacy, AI, blockchain, and cryptocurrency. The head of the team, Jong Baek Park, advises on blockchain issues and government engagements. Juho Yoon is noted for his knowledge of telecom regulation, information security, and e-commerce. Jae In Lee focuses on financial regulation and compliance, leveraging prior experience with regulatory bodies. Seyeong Im is a leader in blockchain and cryptocurrency, advising top financial institutions on fintech projects and regulatory matters domestically and internationally.

Responsables de la pratique:

Jongbaek Park


Autres avocats clés:

Juho Yoon; Youngju Park; Seyeong Im; Jae In Lee


Les références

‘A highly knowledgeable team with excellent connections in the country.’

‘Jongbaek Park is a terrific lawyer due to his knowledge and expertise as well as his connections in the industry.’

‘Bae, Kim & Lee communicate smoothly with regulatory bodies such as the Financial Services Commission and the Financial Supervisory Service, effectively mediating between parties. They thoroughly examine the circumstances faced by client companies and provide appropriate and reasonable advice based on a deep understanding.’

Principaux clients

Foris GFS KR Limited


Hashed


KEB Hana Bank


Milk Partners Co., Ltd.


Samsung SDS


Solana Foundation


Principaux dossiers


  • Advised Solana Foundation on whether its SOL token bears the characteristics of securities.
  • Advised KEB Hana Bank in joint venture with BitGo Holdings, a US crypto custody company.
  • Advised Milk Partners Co., Ltd. on its launching a point exchange service in Indonesia.

Kim & Chang

Kim & Chang is recognised for its robust expertise in financial regulation, supported by a fintech team that boasts an exceptional number of professionals with technical expertise and experience as well as accountants and former regulators. The team is co-led by Kye Sung Chung and Sang Hwan Lee, who both have extensive experience in financial regulatory matters, corporate finance, securities, and mergers and acquisitions. Bumkyu Sung's primary area of expertise includes AML, anti-bribery and internal investigations of both domestic and global financial institutions. Foreign attorney Ik Hwan Cho offers substantial knowledge in securities regulation, while Joon-Young Kim specialises in fintech matters, including blockchain, cryptocurrency and cloud computing.

Responsables de la pratique:

Kye Sung Chung; Sang Hwan Lee


Autres avocats clés:

Chan Moon Park; Bumkyu Sung; Cheolhee Park; Oh Hyun Kwon; Ik Hwan Cho; Joon Young Kim; Jung Min Lee; Gye-Jeong Kim


Les références

‘The Fintech & Financial Regulation team at Kim & Chang has a significant competitive edge in the following areas. First, they have a diverse team of lawyers with specialised expertise in various areas, enabling them to address a wide range of issues and reach well-rounded conclusions. Second, they employ numerous professionals with experience in the technology sector or relevant public offices, and many of their team members have experience in both areas. Third, the team consistently provides coherent and easily understandable opinions, suggesting that senior members with excellent leadership skills are actively involved in their work.’

‘Jung Min Lee is a key contact in the fintech sector who provides accurate opinions and effective alternatives. He is also an outstanding expert in various financial-related fields, from whom I receive significant assistance.’

‘The team has advised us in relation to blockchain, social casinos and i-gaming, which we are currently focusing on for our near future business target model.’

Principaux clients

Hana Bank


Woori Bank


Coupang Corporation, Coupang Pay


Viva Republica / Toss Bank / Toss Securities / Toss Payments


Kakao Group


Shinhan Bank


KB Life Insurance Company


Bithumb Korea Corporation


Samsung Life Insurance Co., Ltd.,


BitGo, Inc.


Principaux dossiers


  • Reviewed whether fractional investment products constitute securities and advised on application for designation of innovative financial services.
  • Legal review of a generative AI-based in-house service of Shinhan Bank and advised on the bank’s application to designate the above service as an ‘innovative financial service’.
  • Advised multiple major commercial banks in Korea on financial authorities’ investigations of certain abnormal foreign currency remittances.

Lee & Ko

Lee & Ko’s financial regulatory team, part of its wider finance group, is recognised for its expertise in navigating complex regulatory frameworks. The fintech division advises a diverse range of clients on fintech services and regulatory issues, with recent work including security token offerings (STO) and responsibilities maps. Jung-Myung (Chloe) Lee leads the fintech practice, specialising in digital finance, blockchain, and NFTs. Taekyoung Kwon, head of the financial services regulatory team, brings extensive experience in inspections and addressing unfair trade practices. Hyeong Min Yoo, with a background in the Financial Supervisory Service, and Hwan Kyoung Ko, who advises fintech companies, including P2P lenders and cryptocurrency exchanges, are also key contacts. Seong Hwan Ju is another key figure with a focus on regulatory compliance matters including advising on financial institutions' corporate governance and financial transactions.

Responsables de la pratique:

Jung Myung (Chloe) Lee; Taekyoung Kwon


Autres avocats clés:

Hyeong Min Yoo; Hyunjoo Oh; Hwan Kyoung Ko; Han Kyung Lee; Jongsoo (Jay) Yoon; Hyeong Min Yoo


Les références

‘Strong commitment to clients, and they manage issues efficiently.’

‘The team always put a client first, showing great enthusiasm to help and assist the client.’

 

Principaux clients

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 (KRX)


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


FRIENKLY


LEVEL 19


SK M&Service


Ntuple


Woori Investment Bank


KB Capital


PEOPLEFUND


HuobiKorea


NICE Information Service Co., Ltd.


KAKAO PAY


NEXON


SUPERTREE


Gbiz Group


NAVER FINANCIAL Corp.


Principaux dossiers


  • Advised Galaxia Moneytree Co., Ltd. on successfully receiving designation as an innovative financial service from the Financial Services Commission (the “FSC”) for a fractional investment financial instrument using trust beneficiary certificates and blockchain tokens.
  • Advised SK Telecom Co., Ltd. (“SKT”) on regulatory issues and legal documentation for the expansion of its metaverse platform, ifland, including the introduction of a virtual currency system and an NFT marketplace in the U.S. and Germany.
  • Advised Block Odyssey on developing a blockchain-based entrustment investment platform for personal mobility assets.

Yulchon

Yulchon’s finance and financial regulatory team includes a dynamic group of lawyers and experts in financial regulation and technology, offering comprehensive legal counsel across traditional and emerging financial regulations. The team provides full-service advice, covering banking, credit finance, ICT, data protection, financial security, and cloud services. Its expertise extends to fintech investments, including M&A, IP, blockchain, cryptocurrency, and AI matters. Co-led by Doil Son, a top authority on Korea’s fintech policy and regulations, and Young Su Shin, known for his work with financial institutions on approvals, insurance, and regulatory issues. Sun Hee Kim adds depth in data protection, e-commerce, and ICT, advising global clients expanding into Korea.

Responsables de la pratique:

Doil Son; Young Su Shin


Autres avocats clés:

Gun Kim; Si Mok Kim; Tae Yeun Kim; Sun Hee Kim; Choon Ku Choi


Les références

‘Pragmatic and practical legal view, accompanied with efficient spending of hours. The team clearly possesses a deep knowledge of the financial services landscape in Korea.’

‘Sun Hee Kim’s legal guidance has always been clear and shows a deep understanding of the business and the business objective. It does make you feel reassured, and it’s exactly what a client needs.’

‘Sun Hee Kim and the team exhibit an in-depth knowledge of the fintech sector. Their advice is not only practical but also tailored to the tasks presented. I would certainly recommend the team.’

Principaux clients

Woowa Brothers


Viva Republica


Ant Group


Nonghyup Financial Group Inc.


Shinhan Investment Securities


Jojo Tiger Co., Ltd., Jojo Lion Co., Ltd.


KB Securities Co., Ltd.


Hana Bank, Woori Bank and IBK Securities


Woori Finance Holdings


Korea Financial Intelligence Unit (FIU)


Principaux dossiers


  • Advised Ant Group in its business collaboration with Toss Payments and Toss Payments’ largest shareholder, Viva Republica, in relation to the acquisition of a significant minority stake in Toss Payments whereby Ant Group became the 2nd largest shareholder of Toss Payments, with almost 40% shareholding interest.
  • Provided advisory services to Hana Bank and IBK Securities, focusing on assessing and strengthening their internal controls, and advised Woori Bank on implementing a responsibilities map under the Act on Corporate Governance of Financial Companies (the “CGFCA”).
  • Provided comprehensive legal advisory to Woori Bank Co., Ltd. (“Woori Bank”) regarding the launch of its new mobile banking application, Woori Won Banking (“WWB”).