Do you have any questions?

Thank you for your interest in Cha & Kwon. If you have any questions about our firm,
you can check our answers by clicking on the FAQs below.

• Do platform, SaaS, or API-based services require regulatory review?

  Yes, platform-based business models often fall under multiple regulations including EFTA, privacy laws, and antitrust rules. Reviewing architecture and T&Cs in advance is essential—especially for API-driven financial intermediary services.

• Do you provide strategic options when regulatory risks are identified?

  Absolutely. When regulatory risks are discovered, we outline potential responses—including agency filings, structural revisions, business suspension, or litigation—helping clients make informed decisions. We can also present risk matrices if needed.

• Can you help communicate with foreign regulators?

  Yes, we assist with legal communications to regulators such as Singapore's MAS, the U.S. FinCEN, and Japan's FSA. This includes legal opinions, filings, and coordination with local counsel for cross-border compliance issues.

• Can you pre-screen a business model for regulatory violations?

  Yes, we analyze business models or platform features for potential violations of laws such as the EFTA, AML Act, and Fair Trade Act. We offer risk assessments and recommend structural modifications or legal interpretations if needed.

• Can you help build internal control or compliance systems?

  Yes, we help design internal control and compliance systems tailored to the company’s size and industry. This includes compliance manuals, whistleblower systems, and legal audit procedures, as well as internal investigation planning.

• Do you have experience communicating with Korean regulatory agencies?

  Yes, we have worked directly with agencies including the FSC, FSS, FIU, MSIT, and KIPO. We assist with official inquiries, pre-clearance discussions, and policy consultations—particularly in emerging tech sectors.

• Can you help design AML/KYC compliance systems?

  Yes, we advise on AML/KYC compliance systems, including customer due diligence, transaction monitoring, STR/CTR filing procedures, and staff training protocols. We also coordinate with third-party vendors if technical solutions are needed.

• Do you assist with VASP (Virtual Asset Service Provider) registration?

  Yes, we support VASP registration under the Act on Reporting and Using Specified Financial Transaction Information. Our service includes structuring review, internal controls setup, ISMS coordination, and document preparation for submission to the FIU and FSC.

• Do you advise on licensing for electronic financial businesses?

  Yes, we provide licensing support for electronic financial service providers such as PGs, e-money issuers, and e-billing operators. Our services include drafting business plans, compliance policies, and technical documentation, as well as liaising with the FSC and FSS.

• Can you help with regulatory sandbox applications?

  Yes, we assist with applications to Korea’s regulatory sandboxes (Financial or ICT). Our services cover eligibility assessment, pre-filing consultations with regulators, preparation of explanatory materials, and participation in committee hearings.

• How is the litigation process handled after we retain your firm?

  Once retained, we proceed with fact-checking, legal analysis, and draft pleadings, followed by strategic consultations. We provide clear guidance on potential outcomes and manage filings, witness prep, and court appearances directly.

• How should a company respond if an executive or employee is under criminal investigation?

  If a corporate officer or employee is accused of a crime, it is crucial to separate the company’s strategy (e.g., PR stance, cooperation level) from the individual’s defense plan. We advise on both fronts, including related employment or tax law risks.

• Do you handle cases involving hacking, digital fraud, or unauthorized withdrawals?

  Yes, we have extensive experience in digital crime cases such as crypto wallet hacks, phishing scams, and exchange embezzlement. We work with forensic tools to trace blockchain transactions, analyze logs, and build evidence-driven legal strategies.

• How should I respond to a request for information from the police or prosecution?

  When facing police or prosecutor inquiries—including data requests, summons, or search warrants—legal advice is essential. We accompany clients to interviews, submit legal opinions, and review whether the investigative scope or method is lawful.

• Is it helpful to file a criminal complaint alongside civil action?

  In many cases, combining civil and criminal actions is highly effective. For example, in investment fraud or trade secret theft, criminal complaints can pressure the opposing party or secure key evidence. We also assess the risk of counterclaims such as defamation or false accusation.

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