Having come into effect July 1, 2024, LCI 2024 introduced a new framework classifying and regulating finance companies. Namely, a distinction is made between general finance companies and specialized finance companies. Accordingly, SBV issued new circulars outlining the procedures for updating licenses and expanding the business scope of current finance and financial leasing companies. This development allows both domestic and foreign-invested finance companies to explore operation expansion opportunities.

26F, Grand Central A, 14 Sejong-daero, Jung-gu, Seoul T. +82-2-6200-1600 E. master@jipyong.com

Subscribe | Unsubscribe

Seoul | Suncheon | Busan | Shanghai | Ho Chi Minh City | Hanoi | Jakarta | Phnom Penh | Vientiane | Yangon | Moscow | Budapest

This message was prepared for our clients for the purpose of providing real-time updates on general legal information only, and should not be relied on as legal advice or the opinion of the firm. Please contact the relevant authors for further information regarding an article's contents.

ⓒ JIPYONG LLC. ALL RIGHTS RESERVED.