Small and Medium Fintech Companies Also Improve Regulatory Response Capabilities... Fintech Association Provides Free Consulting
Providing Regulatory Compliance and Business Model Legality Review
[Asia Economy Reporter Minwoo Lee] The Korea Fintech Industry Association will provide free legal and regulatory consulting services to small and medium-sized fintech (finance + technology) member companies.
The Fintech Industry Association announced on the 14th that it will offer such consulting services. Accordingly, the association has prepared its own legal and regulatory consulting support plan and will provide free one-stop legal and regulatory consulting services, including ▲various fintech-related regulatory inquiries ▲business model legality reviews ▲general legal advice.
This initiative aims to support many fintech companies that face difficulties in responding to related financial regulations or reviewing the legality of their business models due to a lack of internal legal and government relations resources.
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Lee Geun-joo, chairman of the Korea Fintech Industry Association, stated, "Through the provision of this legal and regulatory consulting service, we expect to strengthen communication between the association and its members and enhance the compliance management and regulatory response capabilities across the fintech industry." He added, "We will continue to actively promote various projects that support the growth of the domestic fintech industry through proactive communication with member companies."
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