SOUTH KOREA Law and Practice Contributed by: Jongbaek Park, Seungil Hong, Seyeong Im and Eric Jeong, Bae, Kim & Lee LLC
Bae, Kim & Lee LLC was founded in 1980 and is a full-service law firm covering all major practice areas, including corporate law, merger and acquisition trans - actions, dispute resolution (arbitration and litigation), white-collar criminal defence, competition law, tax law, capital markets law, finance, intellectual prop - erty, employment law, real estate, technology, media and telecoms, maritime and insurance matters. With more than 650 professionals located across its offic - es in Seoul, Beijing, Hong Kong, Shanghai, Hanoi, Ho
Chi Minh City, Yangon and Dubai, it offers clients a wide range of expertise through a vast network of of - fices. The firm is composed of a diverse mix of Korean and foreign attorneys, tax advisers, industry analysts, former government officials and other specialists. A number of its professionals are multilingual and have worked at well-known law firms in other countries, enabling them to assist international clients as well as Korean clients abroad successfully with cross-border transactions.
Authors
Jongbaek Park as the blockchain and crypto-asset team leader at Bae, Kim & Lee advises on blockchain, crypto-
Seyeong Im of Bae, Kim & Lee mainly focuses his practice on financial regulations, digital finance, inspection of financial companies, anti-money laundering and virtual assets. In addition to the advisory services
asset, tokenisation, fintech, data privacy, open source software compliance, cross-border/domestic financial transactions, asset management, capital markets, corporate finance and private fund investment. He also provides advisory services to governmental agencies and committees including the Private-Public Joint TF hosted by the FSC on Digital Assets and an international conference on open source-related issues.
regarding traditional financial regulations, he has also actively provided legal advisory services on digital finance (such as the introduction of BaaS by domestic banks, regulation on network separation by foreign insurance companies and overseas payment companies’ entry into the Korean market). In addition, he has built up various experiences in general regulatory matters such as the responsibilities map regime, inspection and sanctions by financial regulatory authorities, and financial licences and permits and reporting of virtual asset service providers.
Seungil Hong is a partner at Bae, Kim & Lee and specialises in fintech matters as well as traditional capital markets, securities and private equity. He has extensive experience in representing clients in fintech-related
Eric Jeong is a foreign attorney who mainly advises on financial products, derivatives, compliance and regulatory matters. Before joining Bae, Kim & Lee, he worked for ANZ Bank. As a former founding principal at a start-up
transactions, including cross-border e-commerce and cryptocurrency investments. He has also advised fintech companies on regulatory compliance and risk management issues related to cryptocurrency and other disruptive financial services and products. He provides innovative solutions that address his clients’ business needs and legal concerns.
investment bank, he led the establishment of a system in compliance with regulations on derivatives. He has a Bachelor’s degree in finance and a Bachelor of Laws from the University of Sydney. He was admitted to the Supreme Court of New South Wales in 2019. Since joining the firm, he has specialised in financial regulatory practice. He advises international and domestic clients on licensing issues, capital markets and securities regulations, and represents clients in matters involving financial authorities.
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