BKL, through its professionals who are well-versed in the applicable laws and practical matters across the financial industry sectors, provides sophisticated and creative solutions to financial institutions on various legal issues arising from their day-to-day business operations to financial transactions, licenses and permits, internal control, response to supervisory authorities, M&A transactions, digital transformation and entry into overseas financial markets. Due to the differentiated services of its dedicated team for ongoing support, BKL has achieved outstanding results in such areas as disputes, sanctions, and regulatory reform legislation involving financial institutions.

In particular, BKL prides itself on having exceptional experience and track record in the area of internal control system as it has provided not only a variety of advisory services including the establishment of internal control systems in lockstep with the trend of financial institutions strengthening internal control system but also has performed the drafting of a responsibilities map which was introduced by the amendment of the Act on Corporate Governance of Financial Companies and various other related tasks. 

Expertise and Proactive Solutions Tailed to Financial Institutions

BKL advises a broad spectrum of global financial institution clients, including financial holding companies, banks, financial investment companies (such as securities companies and asset management companies), specialized credit financing companies and insurance companies, on both day-to-day operations and transactional matters in all areas pertinent to financial institutions, including financial transactions, acquisition of licenses and permits, registrations, internal compliance, response to supervisory authorities’ comprehensive or/and occasional inspections and investigations, anti-money laundering (AML) issues, M&As and overseas expansion. While financial institutions operate under strict laws and regulations in both market entry and business activities, with the introduction of the new corporate governance laws, internal control controls are expected to become more stringent. BKL constantly monitors the regulatory environment and latest developments in the financial services industry and provides preemptive solutions to its financial institution clients, thereby helping them to adapt to changes in regulatory environment without any disruption in the business activities.

Multifaceted Advisory Services through Collaboration of a Variety of Experts

When it comes to legal advisory services to financial institutions, it is of the supreme importance to understand not only the applicable laws and regulations but also the nature of the specific financial industry and the needs of such financial institutions. BKL brings together not only finance lawyers widely recognized as experts in their respective specializations but also specialists with a wealth of experience from local regulators such as the Ministry of Economy and Finance, the Financial Services Commission, the Financial Supervisory Service, and the Korea Exchange, as well as experts from banks and financial investment firms. 

In addition to its expertise in the financial sector, BKL has established a close-knit collaboration system among specialists from various fields including legislative and administrative support, tax and accounting, fair trade, labor and fintech.

Swift Response to Regulations in New Area

Recently, financial institutions have been expanding their operations into various areas beyond their own traditional financial businesses such as the expansion of digital finance and entry into overseas markets. In lockstep with this trend, BKL has launched its Future Finance Strategy Center to cover digital finance area, thereby actively engaging in new areas such as innovative finance, digital currency, virtual assets, IT security issues and AI compliance. Besides, BKL provides tailored legal advisory services to financial institutions on their overseas expansion in collaboration with local law firms.

Differentiated Services through Ongoing Response Team

BKL has launched a dedicated team to meet the urgent needs of financial institution clients at all times, thereby providing various legal advisory services through the collaboration of multiple experts. BKL’s differentiated client-oriented services in the financial advisory landscape have continuously proven to be successful in providing sophisticated and creative solutions as well as in disputes including litigations involving financial institutions, sanctions resulting from the non-compliance with the regulatory requirements, and legislation for improvement of financial regulations.