Cha & Kwon Law Offices has provided legal consulting on the application process for the “innovative financial service” designation. As of November 2022, the following four applications have been completed:

• Company A – Platform for fractional investment in artwork
• Company B – Asset management platform for real estate
• Company C, D – Bond trading platform
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“Innovative financial service”—one of the regulatory sandboxes—recognizes and applies special exceptions to financial or related services and businesses that offer different content, method, or form of service provision. Just as patents are important for competitiveness in the manufacturing industry, it is crucial to explain the need for special regulatory exceptions for such services, without neglecting the purpose of laws and regulations applicable to business models.

Furthermore, considering the possibility of future business expansion, it is just as important to carefully select regulations and apply for which special regulatory exceptions will be evaluated. For the above reasons, it is ever more imperative to seek legal assistance from an attorney with expertise in financial-related laws.

Cha & Kwon Law Offices currently provides legal consultation to various fintech companies, assisting essential tasks such as business registration and navigation through the regulatory sandbox, in line with the rapidly changing fintech market environment and institutional policies.