[Consulting] Review of the legality of the Fintech business
Article posted in | VEAT
Finance and IT combined, Fintech now accounts for a considerable portion of our country's financial sector. Especially areas like P2P lending have not only pioneered the mid-interest rate lending market, but also have loan amounts exceeding 100 billion won, gaining recognition as a field within finance. Meanwhile, regulatory measures and guidelines from relevant authorities are gradually being established due to the rapid growth of the P2P lending market.
Law firm Veat received a request from a Fintech company specializing in P2P lending and analyzed the contents of the new P2P lending guidelines announced by the Financial Supervisory Service in November 2016, and identified legal risks in the business direction of P2P lending, considering the contents of soon-to-be-formalized administrative guidance.
Thank you.
Law firm Veat