For non-bank financial institutions including specialized credit finance companies—credit card companies, credit financing companies, and lease companies—and mutual savings banks, Yoon & Yang’s Finance Practice offers general advisory services related to establishment, licenses/permits, M&As, advice on financial instruments or services, and financial authorities’ examinations and sanctions. By drawing on the unparalleled depth and sophistication of Yoon & Yang’s attorneys, senior advisors, and expert advisors with rich hands-on experience in various areas gained at financial authorities, the Practice provides optimal solutions through its consultations with the industry and the authorities as well as tailored advice that at the forefront of industry and regulatory developments.

Key Services

  • Advising on licenses/permits related to establishment, registration, liquidation, licenses/permits related to business conduct, and filings and reports submitted to financial authorities
  • Advising on the acquisition, sale, and management of assets
  • Advising on M&As or the approval of change of large shareholders
  • Advising on business practice regulations and financial soundness
  • Advising on the interpretation of laws and regulations related to products and services
  • Advising on the ongoing supervision, inspections, and sanctions by the Financial Supervisory Service
  • Advising on financial disputes and issues regarding taxes and antitrust

Representative Cases

  • Advised a savings bank on the approval of change of large shareholders
  • Advised a savings bank on the application for approval of an ancillary business
  • Advised on My Data registration and related matter
  • Advised savings banks and specialized credit finance companies on governance (including the qualifications of compliance officers, concurrent holding of positions, and recommendation of officers)
  • Offered various consulting services regarding the Act on the Protection of Financial Consumers
  • Responded to FSS full-scope inspections of savings banks and credit card companies
  • Responded to inspections related to data leaks
  • Responded to targeted inspections related to anti-money laundering, personal credit information, and financial accidents
  • Responded to targeted inspections related to the so-called meat loan scandal
  • Responded to the targeted inspections related to the KTENS case
  • Responded to targeted inspections related to mortgage loans