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National Assembly Passes Amendment to Attorney-at-Law Act Codifying Attorney-Client Privilege On January 29, 2026, the Korean National Assembly passed an amendment to the Attorney-at-Law Act (the “Amendment”), formally introducing the concept of Attorney-Client Privilege (“ACP”). The Amendment was approved by the National Assembly’s Legislation and Judiciary Committee (“LJC”) on December 18, 2025, and is expected to take effect in early February 2027, following a one-year grace period after its promulgation. The Amendment, through the addition of a new Article 26-2 to the Attorney-at-Law Act (“ALA”), codifies ACP and expands protection for confidential communications between clients and attorneys, as well as for attorney work product. Crucially, although the Amendment will enter into force after the one-year grace period, its protections will apply retroactively to attorney-client communications and work products produced prior to the official effective date. The adoption of ACP was a key policy initiative of President Jae‑Myung Lee, prompted by growing concerns that Korea’s existing legal framework did not adequately protect attorney‑client communications, particularly during government investigations. Although the Criminal Procedure Act and the pre‑amendment ALA provided limited protection for confidential information in an attorney’s possession and for attorney‑client communications, they lacked explicit provisions regarding ACP. Consequently, neither the person subject to a search‑and‑seizure warrant nor his or her attorney could invoke ACP as a formal legal right during the execution of the warrant, making it difficult to safeguard confidential communications. As noted at the LJC’s review session on December 12, 2025, Korean investigative authorities have historically been permitted to search law offices to seize emails, documents, and other attorney‑client communications, and even to summon attorneys as witnesses. This practice has been criticized for hollowing out the constitutional right “to receive the assistance of counsel” under the Korean Constitution. The Amendment seeks to address these concerns and to align Korea’s ACP regime more closely with those of common-law jurisdictions. The new statutory language adds four sections to the ALA (the first three being substantive), as follows: Section 1 of the newly added Article 26-2 of the ALA grants attorneys and their clients, including prospective clients, the right “not to disclose confidential communications exchanged for the purpose of providing or receiving assistance in legal cases or legal affairs.” Section 2 expressly provides that attorneys and their clients “may refuse to disclose documents or materials prepared in connection with litigation, investigations or regulatory examinations in matters for which they have been retained.” Section 3 provides four exceptions to the preceding sections. Specifically, ACP may not apply when: (a) the client has waived the privilege; (b) disclosure is necessary to protect substantial public interests (e.g., when the attorney and client are accomplices to a crime); (c) disclosure is necessary for the attorney to address a dispute with the client; and (d) as determined under other laws containing special provisions. The codification of ACP is expected to significantly transform Korea’s legal landscape. Additional guidelines and related litigation are also likely to follow (including on the broad “substantial public interest” exception), further defining the scope and applicability of these protections. Companies and law firms operating in Korea should therefore establish clear standards for identifying and protecting confidential materials and communications created during the provision of legal services. [Korean Version]
2026.01.29

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Third Amendment to the Korean Commercial Code, on Mandatory Treasury Share Cancellation, Passed by the National Assembly As previously explained, following (i) the first amendment to the Korean Commercial Code (the “KCC”) in 2025 introducing, among other things, a fiduciary duty of directors to protect the interests of shareholders, and (ii) the second amendment mandating cumulative voting for director elections and increasing the number of audit committee members subject to separate election, there have been active discussions on a third amendment to the KCC focused on, among other matters, the mandatory cancellation of treasury shares. On November 25, 2025, National Assembly member Oh Gi-hyoung, the chairman of the Democratic Party’s KOSPI 5000 Special Committee, proposed to the National Assembly a bill to partially amend the KCC which consolidated various previously proposed bills concerning mandatory cancellation of treasury shares (Link). As formal legislative discussions progressed following the introduction of this third amendment bill, there has been considerable market activity, such as transactions aimed at raising funds by disposing of treasury shares before cancellation becomes mandatory, including the issuance of convertible bonds backed by treasury shares, off-hours block trades, over-the-counter transactions, and on-exchange disposals. In this context, disclosure regulations concerning listed companies’ holdings of treasury shares and their disposal plans have also been continuously strengthened (Link). The third amendment bill (the “Amendment”) passed the first sub-committee of the Legislation and Judiciary Committee of the National Assembly on February 20, 2026, was submitted to the general meeting of the Legislation and Judiciary Committee on February 23, 2026, and was passed by the National Assembly plenary session on February 25, 2026. During the committee review process, the bill was further revised beyond the original framework (which defined treasury shares unissued shares and mandated their cancellation) to additionally: (i) expressly state that treasury shares have no rights with respect to stock dividends as well as cash dividends; (ii) clarify (thereby resolving prior controversy) that treasury shares acquired for specific purposes under Article 341-2 of the KCC (e.g., where a shareholder exercises appraisal rights) may be cancelled by a board resolution without undergoing capital reduction procedures (i.e., no special resolution at a general meeting of shareholder and no credit protection procedures); and (iii) include in the addenda a separate three-year grace period and disposal provisions for companies subject to statutory foreign ownership caps under, for example, the Telecommunications Business Act, where mandatory cancellation of treasury shares could result in an indirect increase of foreign shareholding and thereby trigger a regulatory breach. Under the addenda, the Amendment is scheduled to take effect on the date of promulgation. If enacted, the Amendment may have a significant impact on companies’ capital structures, shareholder return policies, value-up disclosures and investor relations policies, and may also materially affect strategic investment and financing decisions that have historically assumed the availability of treasury shares as a funding or transaction source. In particular, if the Amendment is promulgated and becomes effective before the annual general meeting of shareholders in 2026, companies that plan to dispose of treasury shares (such as through executive compensation arrangements or sales to third parties) may need to promptly submit to their shareholders agenda items relating to treasury share holdings, disposal plans, and related amendments to their articles of incorporation. In light of these considerations, some companies have already adopted board resolutions and issued convocation notices for the annual general meeting of shareholders and public announcements that include agenda items premised on the enactment of the Amendment (including treasury shareholding and disposal plans). Accordingly, careful and thorough attention should be paid to the progress of the Amendment in connection with preparations for the annual general meeting of shareholders in 2026. Below is a consolidated summary of the key provisions of the Amendment as passed by the National Assembly plenary session (integrating both the originally submitted bill and the additional revisions made by the Legislative and Judiciary Committee). 1. Treasury shares are treated as unissued shares and corresponding restrictions apply. The Amendment defines treasury shares as unissued shares without any rights, thereby legislatively resolving the longstanding debate between the “asset theory” and the “unissued shares theory” regarding the nature of treasury shares. Accordingly, the bill: (i) excludes voting rights, preemptive rights, and rights to cash dividends and share dividends; and (ii) specifically prohibits: (A) issuing bonds exchangeable into or redeemable with treasury shares; (B) creating a pledge over treasury shares held by the company; or (C) allocating split shares to treasury shares in the context of a merger or corporate division (Article 341-3, Article 529-2, and Article 530-13 of the Amendment). When a company is exceptionally permitted to hold or dispose of treasury shares as notwithstanding the cancellation obligation (as described below), the Amendment generally applies by analogy the procedures for issuance of new shares to the extent consistent with the “unissued shares” characterization (Article 342-4 of the Amendment), and requires, as a general rule, disposal on equal terms to each shareholder in proportion to the number of shares held (Article 342(1) of the Amendment). However, where an exception under Subparagraph 2 through 5 applies (explained below), the company may dispose of treasury shares to other persons who are not shareholders (Article 342(2), (3)). 2. Second, with cancellation of treasury shares becoming mandatory, companies wishing to hold and dispose of treasury shares must obtain approval of holding and disposal plans at a general meeting of shareholders (and, for disposals to certain third parties, support for such disposals in the articles of incorporation is also necessary). In principle, where a company acquires treasury shares after the Amendment takes effect, it must cancel them within one year from the date of acquisition (Article 341-4(1) of the Amendment). Treasury shares held by a company as of the effective date of the Amendment are also subject to the same cancellation obligation, but with an additional six-month grace period (Addenda, including Article 2). However, where any of the grounds enumerated below apply and the company prepares a treasury share holding/disposal plan and obtains shareholder approval, the company may hold or dispose of treasury shares in accordance with such approved plan. In particular, the exception allowing disposal to a specified third party under Subparagraph 5 may be significant in practice; to rely on it, an additional amendment to the articles of incorporation is necessary ? a clause similar to those that allow for allocation of newly issued stock to third parties is required. There has been controversy that treasury shares acquired not out of distributable profits but for specific purposes under Article 341-2 (e.g., in connection with appraisal rights) would still require capital reduction procedures (a special resolution of the general meeting of shareholder and creditor protection procedures), creating an excessive burden. The Amendment resolves this by expressly permitting cancellation of treasury shares by board resolution alone, without capital reduction procedures (proviso to Article 343(1) of the Amendment). [Permitted grounds for holding/disposal of treasury shares (subject to shareholder approval of the holding/disposal plan)] (1) Where the company disposes of treasury shares to each shareholder on equal terms in proportion to the number of shares held; (2) Where the company utilizes treasury shares for the purpose of employee/executive compensation purposes, such as granting stock options as prescribed by Article 340-2 or Article 542-3 of the KCC; (3) Where the company utilizes treasury shares for the purpose of implementing an employee stock option plan, such as granting employee stock options under the Framework Act on Labor Welfare; (4) Where the company utilizes treasury shares as prescribed by applicable laws and regulations, including Article 360-2(2), Article 360-1(2), and Article 523(3) of the KCC; or (5) Where necessary to achieve legitimate business objectives, such as introduction of new technology or improvement of financial structure, and the articles of incorporation specify such grounds pursuant to a resolution of the general meeting of shareholders under Article 434. [Required contents of the holding/disposal plan] The plan requiring shareholder approval must include the following items, and must be signed (or sealed) by all directors: (1) Purpose of holding or disposing of treasury shares; (2) Types and numbers of treasury shares to be held or disposed of, and the method of acquisition; (3) The following items as of (i) the start of the holding period and (ii) the planned disposal date; 1) Types and numbers of treasury shares, and the method of acquisition; 2) Types and numbers of the remaining shares excluding treasury shares from the total issued shares; and 3) Change in the ratio of treasury shares to total issued shares; (4) Planned holding period; and (5) Planned timing of disposal. Listed companies may be subject to an administrative fine of up to KRW 50 million if treasury shares are (i) not cancelled within one year of acquisition in violation of Article 341-4(1) of the Amendment (and shareholder approval under Article 341-4(2) of the Amendment has not been obtained) or (ii) held or disposed of in violation of the approved holding/disposal plan under Article 341-4(2). [Korean Version]
2026.03.03

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2026 MOEL Workplace Inspection Plan: Strategic Shift and Intensified Enforcement The Ministry of Employment and Labor (the “MOEL”) recently announced its 2026 Workplace Inspection Plan (the “Plan”), outlining significant shifts in enforcement priorities and inspection methodology. We summarize below the key elements of the Plan and highlight practical considerations for employers managing HR and occupational safety and health compliance in 2026. 1. Shift in Enforcement Framework and Inspection Strategy Emphasis on Ad Hoc/Special Enforcement: The MOEL plans to prioritize ad hoc and special inspections over routine, regular inspections to strengthen targeted enforcement. Expanded Resources & Integrated Oversight: Supported by a significant increase in labor inspectors, the MOEL will substantially expand the number of target workplaces and scale up “Integrated Labor—Safety Inspections” to concurrently audit workplaces with overlapping vulnerabilities under both the Labor Standards Act and the Occupational Safety and Health Act. 2. Key Enforcement Priorities ? Labor Standards Act Compliance To address labor market disparities, the MOEL will concentrate its investigative resources on the following areas: (1) Eradicating Wage Arrears: Any business with two or more reported instances of unpaid wages within a one-year period will be subject to a comprehensive, full-scope audit. If additional complaints are filed following the initial inspection, the MOEL will conduct follow-up inspections and impose progressively stricter enforcement measures. (2) Ending “Free Labor” and Excessive Working Hours: The MOEL will strictly monitor and regulate the misuse and abuse of the comprehensive wage system (commonly referred to as “inclusive wage” arrangements). Inspections will also target workplaces operating shift-work systems or those repeatedly utilizing special extended work authorizations, where there is a heightened risk of excessive working hours. (3) Protecting Vulnerable Workers: The MOEL will implement enhanced oversight of businesses with a high concentration of foreign nationals, youth, or persons with disabilities. To address the increasing demand for on-site enforcement, the MOEL will implement the following measures: (1) Year-Round Anonymous Reporting: The “Anonymous Reporting Center for Current Employees” will operate on a continuous, year-round basis to facilitate and expand inspections driven by anonymous reports. (2) Preemptive Risk-Based Inspections: Enforcement will be strengthened for businesses with frequent workplace harassment claims or rapidly growing companies, where there is an elevated risk of labor law violations. (3) Public Sector Accountability: Oversight of public institutions will be expanded to ensure the adequacy of their labor management practices and overall compliance. 3. Key Enforcement Priorities ? Occupational Safety and Health Act Compliance To improve occupational safety and health enforcement, the MOEL will prioritize the following measures: (1) Expansion of Inspection Personnel and Infrastructure: The number of occupational safety and health inspectors will increase significantly—from 895 in 2025 to 2,095 in 2026. Additionally, the MOEL plans to establish 70 patrol teams nationwide to bolster inspection infrastructure and strengthen rapid-response capabilities. (2) Shift to Punitive Enforcement and Mandatory Risk Assessments: The “Specialized Risk Assessment Inspection” has been abolished. Moving forward, the MOEL will, in principle, pursue judicial and administrative sanctions for violations rather than issuing simple remedial orders. Verifying the implementation of Risk Assessments is now a mandatory requirement across all inspection categories. (3) Enhanced Worker Participation: In audits following serious industrial accidents, inspectors will now be required to take testimony from onsite workers. The participation of “Honorary Occupational Safety and Health Inspectors” in inspection activities will also be expanded. (4) Reinforcement of Basic Safety Protocols: Oversight of fundamental safety requirements—specifically the use of Personal Protective Equipment (the “PPE”) such as safety helmets, harnesses, and belts—will be strengthened. Following any applicable grace period, violations may result in administrative fines imposed on both the employer and the individual employee. 4. Practical Implications for Employers Given the MOEL’s anticipated emphasis on ad hoc and special inspections—particularly those triggered by anonymous tips, wage claims, workplace harassment complaints, industrial accidents, and labor audit petitions—employers should proactively review and reinforce their internal compliance systems. Particularly, employers should align their HR management and occupational safety and health protocols with the specific focus areas highlighted in the MOEL’s Plan referred to above. [Korean Version]
2026.02.24

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Amendments to the Personal Information Protection Act Passed by National Assembly On February 12, 2026, the National Assembly passed amendments to the Personal Information Protection Act ("PIPA") that significantly strengthen corporate obligations and liability, including raising the maximum administrative penalty to 10% of the total revenue, following approval by the Legislation and Judiciary Committee of the National Assembly on February 11, 2026. The key provisions of the amendments are summarized below. 1. Clarification of CEO Accountability The amended PIPA explicitly designates the business owner or the representative of a data controller as the "ultimate person responsible for the processing and protection of personal information" and requires the owner of the representative to take comprehensive management measures, including the provision of personnel and budget to personal information protection. Additionally, for data controllers meeting criteria to be specified in the Presidential Decree of the PIPA, amended PIPA requires that the appointment and dismissal of the Chief Privacy Officer ("CPO") be approved by the board of directors and that the designation of the CPO be reported to the Personal Information Protection Commission ("PIPC"). 2. Expanded Scope of Notification Obligations Previously, the defined term "breach, etc." in the PIPA referred only to the "loss, theft, or leakage" of personal information. The amended PIPA expands this definition to include "forgery, alteration, or damage" of personal information. Accordingly, notification to data subjects is now required not only in cases of loss, theft, or leakage, but also in cases of forgery, alteration, or damage. Data breach reporting obligations will also apply based on such factors as the type of personal information involved, the pathway of the breach, and the scale of the incident. Furthermore, while the pre-amendment PIPA required notification to the affected data subjects only upon learning that "a breach, etc. has occurred", the amended PIPA requires notification upon becoming aware of a "possibility of a breach, etc.", to be further defined in the Presidential Decree, taking into account such factors as the type of personal information, the impact on data subjects, and the level of risk. 3. Increase in Maximum Administrative Penalties The amended PIPA raises the maximum administrative penalty from the previous 3% to 10% of the total revenue in the following circumstances: (1) if a party that has previously been subject to an administrative penalty under the PIPA violates the PIPA again within three years due to willful misconduct or gross negligence; (2) if a violation due to willful misconduct or gross negligence affects 10 million or more data subjects; or (3) if a data breach occurs due to failure to comply with a corrective order issued by the PIPC. The amended PIPA also includes provisions allowing for reduction of administrative penalties where there is evidence of proactive investment in personal information protection, such as budget, personnel, facilities, and equipment. This amendment is intended to encourage preventive investment by companies. The amendments will generally take effect six months after promulgation by the President. However, with respect to the increased 10% ceiling on administrative penalties: (1) for repeated violations, the higher ceiling applies only to the violations occurring after receiving an administrative penalty under the amended PIPA; (2) for violations affecting 10 million or more data subjects, the higher ceiling applies to the violations that have not been concluded as of the effective date of the amended PIPA; and (3) for failure to comply with corrective orders, the higher ceiling applies only to the corrective orders issued after the amended PIPA takes effect. As obligations and liability for personal information protection continue to intensify, companies should take this opportunity to review their personal information processing and protection frameworks, ensure adequate budget and personnel, and develop proactive compliance strategies to mitigate legal risks. [Korean Version]
2026.02.13

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Financial Supervisory Service Announces 2026 Business Plan The Financial Supervisory Service (the "FSS") announced on February 9, 2026 that it has finalized its 2026 business plan, framed by five mid- to long-term strategic objectives[1] and comprising 15 key initiatives. The plan seeks to maintain stability in the financial markets while positioning financial consumer protection as its foremost priority, and to support the successful implementation of the new administration's national policy agenda. We set out below a summary of the 15 key initiatives under the five strategic objectives: 1. [Renewal] Sustaining Internal Improvements for Exemplary Supervisory Services 1) (Enhancing the transparency and public-interest role of supervision and administration) In response to criticism citing insufficient controls over the exercise of supervisory authority, the FSS will improve its inspection and sanctions process by limiting the disclosure of interim inspection results, providing opportunities for self-correction for minor violations, and expanding the composition of civilian members on the sanctions review committee. In addition, in response to public demand, the FSS plans to pursue internal management reforms, including enhancement of management disclosures. 2) (Enhancing supervisory capabilities) The FSS will pursue digital business innovation. This includes integrating AI technology into its systems for handling complaints and disputes as well as for investigating unfair trade practices, thereby streamlining financial supervision. Additionally, it will expand and enhance external information disclosure —e.g., by making inspection and sanctions information easier to search — thereby improving accessibility for service users. 2. [Trust] Building a Fair Financial Paradigm 3) (Establishing a supervision system that puts "financial consumer protection" first) The FSS will fundamentally reorient its consumer protection paradigm toward a proactive and prevention-focused framework, strengthen consumer protections across the full life cycle of financial products (design and manufacturing, review, sales, and post-sale management), and enhance consumer guidance to foster a more consumer-oriented financial transaction environment. 4) (Strengthening ex post protection of consumer rights) The FSS will improve the handling of complaints and disputes by establishing criteria for referring cases to the dispute mediation committee, in preparation for the introduction of a unilateral binding mechanism, and by strengthening the dedicated consultative body on indemnity insurance. In addition, it will overhaul dispute mediation standards to center on financial consumers and establish standards for determining evidence of willful misconduct or gross negligence in connection with consumer harm caused by personal information leaks. Through these measures, the FSS aims to advance consumer rights and interests. 5) (Cracking down on illegal and unsound practices) Where it anticipates consumer harm, the FSS will promptly issue a consumer alert. It will also expand thematic inspections and on-site branch inspections to rigorously examine sales procedures and internal controls, among other areas, with the aim to assess whether high-risk financial investment products are being sold appropriately. In addition, the FSS will promptly investigate and take stern enforcement against suspected unfair trading in connection with corporate finance transactions and politically themed stocks, shorten the accounting review and audit cycle for major listed companies, and take firm action against unsound business practices to protect financial consumers and investors. 6) (Reviewing vulnerable areas and internal controls) The FSS will focus on reviewing high mis-selling risk products — such as highly complex financial investment products — as well as the internal controls and decision-making systems of financial companies, with the aim of eliminating a sales-first culture driven by short-term performance targets. The FSS will also review the independence of the board of directors at bank holding companies and other financial groups, as well as CEO appointment procedures, to strengthen oversight in vulnerable areas and thereby foster a sound management culture across financial institutions. 3. [Stability] Establishing a Robust Financial System 7) (Managing risk factors thoroughly) The FSS will strengthen its monitoring of delinquency rates across mutual finance cooperatives to guard against potential asset-quality deterioration. The FSS will review risk factors in financial markets, including support for reforms to foreign exchange-related financial regulations to help curb foreign exchange market volatility and address supply-demand imbalances. Furthermore, it aims to enhance the soundness of real estate finance by continuing efforts to reduce distressed real estate project financing (PF). 8) (Managing debt in a stable manner) The FSS will promote stable household debt management by encouraging compliance with aggregate household debt targets, expedite the restructuring of distressed companies through rigorous enforcement of the corporate restructuring framework, and ensure sound management of household and corporate debt to prevent undue strain on the national economy. 9) (Improving the supervisory framework) In alignment with global standards, the FSS will prudently refine capital regulations to facilitate productive finance and will overhaul the supervisory framework by focusing on key risk factors specific to each segment of the financial industry, thereby advancing sensible institutional reforms based on such risks. 4. [Mutual Growth] Establishing a Collaborative Growth Ecosystem with Citizens 10) (Innovating the capital market) The FSS will strengthen its productive financial base by reviewing the status of venture capital supply, identifying areas for improvement, and establishing a venture capital intermediation platform that connects financial institutions seeking investment opportunities with companies in need of funding. To create an attractive investment environment, the FSS will not only improve the capital market infrastructure (e.g., by supplementing the foreign investment system) and support innovation in the capital market, but also strengthen safeguards for innovative new products such as fractional investment and tokenized securities, including establishing robust investor protection measures. 11) (Advancing inclusive finance) The FSS will promote the establishment of a management culture based on inclusive finance (e.g., by establishing a comprehensive evaluation system for inclusive finance in the banking sector), further ease the financial burden on vulnerable populations and strengthen related support (e.g., by preparing measures to promote mid-interest loans for mid- to low-income borrowers), and provide tailored financial literacy programs for each life stage to strengthen financial capabilities and support stable financial lives. 12) (Eradicating predatory financial practices) The FSS will bolster its response to financial crimes affecting people’s livelihoods (e.g., by establishing an interagency consultative council involving the special judicial police for financial crimes affecting livelihoods). It will also expand and reorganize a center dedicated to providing redress for victims of illegal private lending, and strengthen early intervention against illegal debt collection to ensure effective relief for victims. In addition, the FSS will take decisive action against such financial crimes in close coordination with relevant authorities, including by supporting investigative agencies and expanding information sharing. 5. [Future] Building a Responsible Foundation for Innovation 13) (Establishing a safe digital environment) The FSS will strengthen its proactive responsiveness to security vulnerabilities in the financial sector and, by operating the integrated control system at full capacity, further enhance its ability to respond swiftly to cyber threats. In addition, by establishing the "Guidelines for Responding to Major Electronic Financial Incidents in the Financial Sector," the FSS will reinforce financial companies' response capabilities and prepare supervisory measures to enhance user protection with respect to IT and information security proportionate with the increasingly widespread use of electronic financial transactions. 14) (Fostering digital innovation and improving reliability in the virtual asset market) The FSS will create a financial AI ecosystem that balances innovation and responsibility by issuing the "Financial AI Ethics Guidelines" and incorporating them into relevant AI guidelines and frameworks. In addition, the FSS will lay the groundwork for the growth of the data industry (e.g., by improving the quality of data integration conducted by data-specialized institutions), and will prepare for the effective implementation of the Phase 2 virtual asset bill while establishing an investigative framework to protect users in the virtual asset market. Collectively, these measures aim to create a reliable transaction environment. 15) (Providing support for sustainable growth) The FSS aims to support the financial industry's sustainable development. To this end, it will refine sector-specific frameworks to promote innovation in related areas such as AI and digital assets, conduct an industry-wide climate stress test, and review measures to support financial institutions in managing climate risk. In unveiling the 2026 business plan, the FSS Governor underscored "enhanced financial consumer protection" and "financial market stabilization" as its two overarching priorities. In particular, with the FSS having solidified a supervisory stance centered on proactive prevention of issues — by declaring 2026 the "inaugural year of substantive financial consumer protection" — the FSS's supervisory oversight and inspections are expected to be significantly strengthened across the entire product life cycle, from design to distribution. In addition, despite uncertainties such as rapid shifts in financial market conditions, the FSS has unequivocally reaffirmed its commitment to safeguarding market stability. Accordingly, heightened monitoring of potential asset-quality deterioration, coupled with rigorous scrutiny of debt management practices, is anticipated. In light of the foregoing, financial institutions should strengthen their internal control and regulatory risk mitigation frameworks with particular attention to the priority areas identified in the FSS's business plan, and proactively to verify their compliance with all applicable laws, regulations, and guidance. [1] (1) (Renewal) Sustaining internal improvements for exemplary supervisory services; (2) (Trust) Building a fair financial paradigm; (3) (Stability) Establishing a robust financial system; (4) (Mutual growth) Establishing a collaborative growth ecosystem with citizens; and (5) (Future) Building a responsible foundation for innovation [Korean Version]
2026.02.10

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“Band 1” in All Nine Areas, 44 “Leading Individuals”

In the 2026 edition of Chambers Global, Kim & Chang was once again the only Korean law firm ranked “Band 1” in all nine practice areas that were surveyed for Korea. In the individual categories, 44 of our attorneys and patent attorneys were recognized as “Leading Individuals.”
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“Tier 1” in All 17 Practice Areas

In the 2026 edition of The Legal 500 Asia Pacific, Kim & Chang was the only Korean law firm to be recognized as “Tier 1” in all 17 areas surveyed for Korea. Moreover, 54 of our attorneys, patent attorneys, and tax attorneys/CPAs were recognized in the individual categories.
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“Band 1” in 17 Areas, 94 “Leading Individuals”

Kim & Chang obtained a “Band 1” ranking in 17 practice areas in the 2026 edition of Chambers Asia-Pacific, once again receiving the most “Band 1” rankings among Korean law firms. The guide also recognized 94 of our professionals, the highest number among Korean law firms, as “Leading Individuals.”
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