Practices - BAE, KIM & LEE LLC

Overview

With our uniquely client-focused approach and extensive network of government contacts, BKL provides the highest quality of services in all aspects licensing and government approvals including financial licenses, and mergers and acquisitions and restructuring approvals.

BKL has extensive experience in assisting clients across the full spectrum of financial services sectors in obtaining regulatory licenses, permits, approvals and clearances. BKL also assists in making regulatory filings and reports.

We offer in-depth analyses of issues with our team of experts who include ex-officials of Financial Services Commission, the Financial Supervisory Service, the Korea Exchange, and other financial regulatory agencies. Based on our history of working with regulatory agencies, BKL guides clients efficiently through the licensing and government approval process.

BKL provides clients with a full-range coverage of all legal services required in obtaining regulatory approvals and licenses including documentation, filing and process management, advising on best practices, and interacting with the financial regulators. Clients regularly turn to us for practical, multi-disciplinary advice during all stages of the process.

Key Services

Business Setup

Licenses, permits, registrations, filings and reports required for new entrants in banking and financial services industry (including FinTech)

M&A and Restructuring

Licenses, permits, registrations, filings and reports required for acquisition or establishment of subsidiaries, change of control, merger, spin-off, business transfer and other M&A and restructuring transactions involving financial institutions

Other related services

Incorporation, branch establishment, registration with commercial registry and market disclosures

Communication and meeting with the financial supervisory authorities in the application and review processes

Interactions with the Korea Fair Trade Commission for merger filings, clearance and other related matters

Responses to new legislation regarding licenses and government approvals

Practice Areas

Representative Cases

Represented KakaoBank in its acquisition of an internet-only bank license newly introduced in Korea

Represented LF in its acquisition of approval for change of major shareholder of Koramco REITs Management & Trust

Represented Eugene Group in its acquisition of shares in Hyundai Savings Bank

Business Setup

Represented KakaoBank in its acquisition of an internet-only bank license newly introduced in Korea

Represented KB Securities in its acquisition of a short-term financial business license and Meritz Securities in its designation as a comprehensive financial investment business entity

Represented NongHyup Financial Group and Hana Financial Group in their establishment and registration of new technology venture capital companies

Represented CGS-CIMB in its acquisition of an investment brokerage license

Represented UOB in its establishment of a Seoul branch and acquisition of an investment brokerage license

Represented Agricultural Bank of China in its acquisition of a banking license and an over-the-counter derivatives trading license

Represented First Gulf Bank in its acquisition of a banking license

Represented Shinhan Bank in its acquisition of approval for concurrent operation of REIT AMC (first ever in industry)

Represented SAP Investment Management, PTR Asset Management and other asset management companies in the registration as hedge fund manager

Represented Lazard (for asset management business), Savills Korea (for financial advisory business), and UBS Alternative (for offshore advisory business)

M&A and Restructuring

Represented Taiwan-based Fubon Life Insurance in its takeover of Hyundai Life Insurance and equity investment in Woori Financial Group

Represented Macquarie Group in its acquisition of approval for change of major shareholder of Macquarie Investment Management Korea

Represented Hana Financial Group in its acquisition of regulatory approval for takeover of The-K Non-Life Insurance

Represented Kakao and Korea Investment Value Asset Management in their acquisitions of approval for change of control of Kakao Bank

Represented Shinhan Financial Group in its acquisitions of Asia Trust and Orange Life(formerly ING Life)

Represented LF in its acquisition of approval for change of major shareholder of Koramco REITs Management & Trust

Represented JKL Partners in its acquisition of approval for change of major shareholder of Lotte Insurance

Represented DGB Financial Group in its takeover of Hi Investment & Securities and Hi Asset Management

Represented Eugene Group in its acquisition of shares in Hyundai Savings Bank

Represented Mason Capital in its acquisition of a loan business

Represented Yuanta Securities in its acquisition of Tong Yang Securities

Advised on the merger of KEB Card and Hana SK Card

Represented Baring in its acquisition of SEI Asset Korea

Represented ING in the divestiture of its PB business

Represented Hana Financial Group in its acquisition of Korea Exchange Bank

Other Licenses and Approvals

Advised KakaoBank on its regulatory sandbox application

Advised NH Investment & Securities and Hanwha Asset Management on the acquisition of approval for capital contribution to newly-established private equity funds

Represented many foreign funds in the registration for offering in Korea