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Non-Bank Financial Companies “No law firm is capable of providing the best quality of legal advisory services other than Kim & Chang.”
– Asialaw Profiles 2018


Kim & Chang’s Non-bank Financial Companies Practice is the leading practice in Korea for consumer finance, with extensive experience representing and working with credit card companies, facility leasing companies, installment finance companies, new technology business financing companies, savings banks, and consumer lending businesses.  

Our Practice consists of experienced attorneys and financial and other subject matter specialists, who are uniquely qualified to provide advice on a comprehensive range of issues, including regulatory approvals, compliance, regulatory investigations, M&A, various disputes and litigation, fair trade law issues, criminal cases, tax, privacy, IT, and labor which relate to the consumer finance sector.

With these professionals who are well versed and richly experienced in industries related to non-bank financial companies, our Practice provides timely and effective advisory services based on our capabilities ranging from our understanding of theories on legal interpretations to experience with practical business skills.

Our Practice routinely provides legal and regulatory representation to the leading companies in the financial and consumer finance industry.  Also, by working closely with other practices in our firm, we are able to provide our clients with a full range of legal resources, providing a one-stop coverage of a wide variety of legal issues by some of the leading professionals in each practice area.

Key Servicesshow

Our Practice provides legal services on a full range of strategic, regulatory, compliance, and enforcement matters relating to credit card companies, banks providing credit card services, leasing companies, installment financing companies, capital companies, consumer lending companies, and savings banks.  Our experience includes assisting clients in regulatory audit-related issues, tax-related matters, civil, administrative, and criminal proceedings, and Fair Trade Law related cases.  We also provide service such as acting as a proxy for procedures to obtain approvals and licenses of regulatory authorities, advising on privacy, IT, and labor related issues, and assisting with issuance of equity and debt securities, ABS transactions, mergers and acquisitions, and business transfers. 


In addition, our Practice has extensive experience in representing leasing companies, installment financing companies, and consumer lending companies, in matters relating to the establishment and registration/licensing of new entities and the reorganization initiative of savings banks, including preparation of rehabilitation plans, disposal of assets, and litigation.  We also assist overseas investors in acquiring local savings banks through share or asset transactions and related regulatory matters.

Key Experienceshow

Major clients of our Non-bank Financial Companies Practice include credit card companies, leasing companies, savings banks and consumer lending companies. 

Credit Card Companies
  • Advised on a joint venture between an overseas and a domestic credit card company.
  • Advised on a commissions-related dispute between a credit card company and a major sales outlet.
  • Advised on a separation of a credit card company from a local bank.
  • Represented a private equity firm in the acquisition of a credit card company.
  • Represented a major Korean card company in a lawsuit relating to administrative penalties by the Korea Fair Trade Commission in connection with alleged fee collusion. 
  • Conducted a compliance review with a focus on compliance with Fair Trade Law and other relevant regulations.
  • Advised on the issuance of Reg S bonds.
  • Advised on a business transfer transaction. 
  • Advised on a cross-border ABS transaction, involving credit card receivables. 
  • Advised on a customer information leakage accident and assisted in defending related civil and criminal litigations.
  • Advised on addressing various labor issues of credit card companies.
  • Advised on various matters concerning starting a new type of business.

Leasing Companies 
  • Assisted in a dispute relating to registration tax for leased vehicles.
  • Represented a financial holding company in the acquisition of a consumer capital company.
  • Represented a local consumer finance company in the issuance of syndicated FRN offshore.
  • Assisted in newly establishing and registering installment financing companies and capital companies. 
  • Advised on the sale of an overseas subsidiary. 
  • Advised on the establishment of an overseas office. 
  • Advised on a cross-border ABS transaction, involving installment financing receivables. 
  • Advised on fair trade and tax issues related to affiliate transactions.
  • Assisted in dealing with a tax investigation.
  • Assisted in dealing with an audit and inspection by the Financial Supervisory Service.
  • Advised on the sale of lease payment receivables.

Savings Banks 
  • Assisted in obtaining a new license and acquiring assets/liabilities in connection with restructuring a distressed local savings bank.
  • Advised foreign and domestic financial institutions and local private equity funds, etc., on the acquisition of savings banks.
  • Advised on the sale of multiple savings banks.
  • Advised on the merger of affiliated savings banks.
  • Advised a savings bank on acquiring another savings bank. 
  • Advised on the process of complying with regulatory orders relating to ongoing eligibility of major shareholders of a savings bank.
  • Advised a savings bank on establishing new branches.
  • Advised on the acquisition or disposal of assets by a savings bank.
  • Advised on possible cooperation and joint business operations with affiliates.
  • Assisted in dealing with an audit and inspection by the Financial Supervisory Service.
  • Advised on various civil, criminal, and tax related proceedings. 

Consumer Lending Companies
  • Assisted a consumer lending company in acquiring a savings bank.
  • Advised on a business model.
  • Advised on offshore expansion.
  • Assisted in securing investments and issuing convertible bonds.
  • Advised on compliance with regulation of business activities and dealing with audits by local regulators.
  • Advised on human resources and labor-related matters of consumer lending companies.


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