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Finance ∙ Capital Markets
- Finance ∙ Capital Markets
- Financial Disputes ∙ Litigation
- Financial Consumer Protection Regulations
- Financial Compliance
- Financial Investment Companies
- Financial Company Examinations ∙ Sanctions
- Financial Company Licenses ∙ Permits
- Financial Company M&A
- Insurance
- Real Estate Financing ∙ Investing
- Unfair Trade Investigation ∙ Accounting Audit
- Investment Funds
- Trusts
- Specialized Credit Finance Companies ∙ Savings Banks
- Banks ∙ Financial Holding Companies
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Overview
Yoon & Yang’s Finance Practice provides professional and reliable advice to expanding and new financial business entities for obtaining regulatory permits and licenses from financial supervisory authorities in the changing and complex regulatory framework of this highly regulated industry. In addition to providing professional advice on the specific license/permit procedures of each financial sector, the legal/regulatory requirements on a new business, and the qualifications of a large shareholder, our Financial Company Licenses Practice uses its deep understanding of the relevant financial sector to provide the most appropriate solutions to various legal and practical issues that arise when a company starts a new business.
Key Services
New business licenses/permits
- Internet-only banking business license
- Savings banking business license; specialized credit finance business permit & registration
- New licenses and business addition licenses for and registration of financial investment service providers, including securities firms and asset management companies
- New permits and business type addition permits for life insurance companies, general insurance companies, and digital-only insurance companies
- Local subsidiary/branch establishment for and authorization for changes of foreign financial companies
- Registration of electronic financial business, My Data business, and online investment-linked financial business
Acquisition of existing financial businesses
- Approval of change of large shareholders under the Act on Corporate Governance of Financial Companies and other financial laws and regulations
- Approval (report) of incorporation of subsidiaries for financial holding companies, approval (report) of ownership in subsidiaries for banks and insurance companies
- Approval of a financial institution’s investment in another company under laws on the separation of industrial and financial capital
- Advising clients on other issues related to regular large shareholder eligibility reviews
Financial business structure reforms and new businesses
- Permits and approvals related to the mergers, spin-offs, and business transfers of financial institutions
- Representing clients in filing applications for financial regulatory sandbox and designated agents
Representative Cases
- Obtained a real estate trust business license for Korea Investment Real Estate Trust
- Advised Hanwha Life Insurance on the split-off of its sales organization and establishment of an insurance agency as a subsidiary
- Obtained a real estate collective investment business license for Kiwoom Asset Management
- Registered the investment advisory/discretionary investment business of Hanwha Asset Management’s real estate and alternative investment division
- Obtained a public real estate fund license for Capstone Asset Management
- Registered the new technology finance businesses of many specialized credit finance companies
- Registered the hedge fund investment businesses of Pharos Asset Management and many others
- Advised Shinhan Card on its My Data business
- Advised a credit bureau on its credit information business
- Obtained approvals of change of large shareholders related to the acquisition of many investment management companies
- Obtained approvals of change of large shareholders for Taurus Securities and many others
- Obtained approvals of change of large shareholders for Pepper Savings Bank and many others
- Registered the offshore investment advisory business of the U.S. subsidiary of an asset management company
