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Chloe (Jung-Myung) Lee is a partner of Lee & Ko and is an expert in the areas of digital finance, fintech, data privacy & cybersecurity, financial regulatory & compliance, capital markets, securities and derivatives.

Based on the experience of both as in-house counsel and in private practice, Chloe (Jung-Myung) Lee is recognized for her expertise in various legal issues related to financial regulatory matters, digital finance and fintech. Ms. Lee not only actively reviews new businesses and provides regulatory advisory services for fintech companies and financial institutions, but also has expertise in reviewing legal issues related to overseas fintech companies and financial institutions' entry into the country and cross-border regulations. She is also a member of the blockchain team of Lee & Ko and the co-team head of its NFT team, and actively advises on blockchain, virtual assets and NFT related legal issues. She is also participating in various external activities such as seminars, conferences, lectures, and committees. She was selected as the '2023 Korea’s Top 100 Lawyers' researched by Asia Business Law Journal.

Before joining Lee & Ko, she served as Legal Team Leader (General Counsel) of Viva Republica (Toss), a unicorn fintech company in Korea, where she handled legal matters of Toss and its subsidiaries with respect to electronic financial transactions, fintech platform businesses, securities, digital banking and insurance businesses. Prior to working at Toss, she served as Head of Legal and Corporate Secretary of Citigroup Global Markets Korea, Citi’s investment banking subsidiary in Korea, supporting their broker-dealer and capital markets businesses such as trading and brokerage of equities, bonds and derivatives, M&A, and issuance of bonds. She also served as Assistant General Counsel of Citi’s Markets & Securities Services Legal located in Singapore, supporting Citi’s APAC region for their structured notes, structured finance, derivatives, fixed income products, FX, and secondary loan trading.
Representative Cases
[FinTech, Digital Finance, Startups]
Advised on new business models and regulations on electronic financial transactions and digital finance of electronic financial business entities, financial companies, online electronic commerce business entities and other companies
Supported acquisition of relevant regulatory licenses, registrations, etc. for new businesses
Advisory services and support for foreign business operators intending to enter domestic fintech market
Advisory services and support for getting designation of innovative financial services (regulatory sandbox) and designated agents
Advisory services and support for projects on virtual assets, NFT and blockchain, and review of virtual asset related new bills
Advised on business structure review and application for innovative financial services related to STOs and fractional investments
Advised and supported overseas companies entering the domestic virtual asset markets
Advised on legal issues of metaverse platforms
Supported acquisition of regulatory licenses for My Data (personal credit information management business) and advised on My Data related legal issues
Advised on online investment-linked financial business
Advised on online electronic commerce business
Advisory services and support for establishment of venture investment associations, etc. of venture capital and startup investment
Advised on regulatory issues relating to platforms such as real estate platforms and mobile messengers
[Financial Regulation and Compliance]
Advisory services and support for financial companies and electronic financial business entities, with respect to inspections by the Financial Supervisory Service or the Korea Exchange, investigations into violations of the Foreign Exchange Transactions Act, and prosecutorial investigations
Advised on anti-money laundering related issues
Advised on various legal matters related to the Financial Investment Services and Capital Markets Act, such as tender offer, OEM fund issues, registration of overseas funds, cross-border licensing issues for offshore financial investment entities, issues on TRS and reporting of large-scale holdings of stocks, issues related to issuance of derivative-linked securities, securities deposit system, and fractional share transactions
Advised on the Specialized Credit Financial Business Act, such as on non-performing loans, regulatory license or registration of a specialized credit financial business, response to inspection by the Financial Supervisory Service of capital companies, and improvement of regulations on credit card business
Advised on the Financial Consumer Protection Act, such as on issues of brokerage and advertising regulations.
Advised on the Banking Act and the Internet-Only Bank Act such as on establishment and business operation of an internet-only bank and regulatory issues of a bank
Advised on the Insurance Business Act, such as on issues related to insurance solicitation
Advised on the Foreign Exchange Transactions Act and the Foreign Investment Promotion Act, such as on small-amount overseas remittance business, report on foreign exchange transactions, and report on foreign investment
Advised on personal (credit) information related regulation
[Financing]
Drafted and advised on loan agreements for Syndicated Loan, Bridge Loan, and Term Loan Facility, etc.
Drafted contracts and advised on Project Financing (PF)
Advisory service for Secondary Loan Trading and Loan Participation Agreement
[Capital Markets, Securities and Derivatives]
Support for term sheet/structure review on OTC derivatives, such as TRS, CDS, Asset Swap, etc., and CLN, repackaged notes and structured notes
Advisory services on terms and conditions of Schedules and Confirmations to the ISDA Master Agreement.
Advised on transaction structure and issues related to Volcker Rule
Advised on contracts related to exchange-traded derivatives (futures and options).
Advisory services and support for issuance of various securities such as MTN, FRN, CLN, DLS, and beneficiary certificates, etc.
Advisory services and support for Repo transaction and securities borrowing and lending
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Education
2021 U. C. Berkeley School of Law - LL.M. (Law and Technology Certificate, Dean's Circle)
2019 Harvard University, Office of the Vice Provost for Advances in Learning - FinTech course
2009 Seoul National University, Graduate School of Business - Executive MBA
2005 Judicial Research & Training Institute, Supreme Court of Korea
2003 Seoul National University, College of Law - LL.B.
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Work Experience
2021-Present Lee & Ko
2023-Present Outside member of the Bank of Korea’s Petition Review Committee
2023 Director, Financial Law Section, Korean Bar Association
2022-Present Expert member of the People Power Party’s Digital Asset Special Task Force
2020-2021 Legal Team Leader (General Counsel), Viva Republica (Toss)
2017-2020 Assistant General Counsel, Markets &Securities Services Legal, Citibank NA Singapore
2010-2017 Head of Legal and Corporate Secretary, Citigroup Global Markets Korea Securities Limited
2005-2010 HMP Law
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Admissions
2005 Admitted to bar, Korea
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Languages
Korean, English and French
Publications / Presentations / ETC
‘Legal Issues of Virtual Assets IV: Chapter 3, Regulation of Unfair Trade (Articles 11, 12 and 17)’, November issue of BFL (Business / Finance / Law), Center for Financial Law, Seoul National University (Co-author, 2023)
‘Understanding Laws on Financial Investment’, Korea Fintech Industry Association (Lecture, 2023)
'Global Trends in Crypto-asset Regulations - South Korea', IAKL (International Association of Korean Lawyers) 30th Annual Conference, Seoul (Panel, 2023)
Chapter 13 South Korea, Financial Technology Law Review (Sixth Edition), The Law Reviews (Co-author, 2023)
‘STO Birth, Time for Experimental Spirit Rather than Over Regulation’, Financial News (Interview, 2023)
'Legal Challenges of Korean Security Token Issuance and Distribution in the Era of Tokenized Securities' Seminar, Digital Finance Law Forum (Panel, 2023)
'Banks and Banking Law in the Digital Asset Era' Seminar, Banking Law Society (Panel, 2023)
'The regulatory and legislative developments in stablecoins', IBA (International Bar Association) International Financial Law Conference, Tokyo (Panel, 2023)
‘STOs to be institutionalized, one-stop support by drawing a big picture’, MoneyToday (Interview, 2023)
'Legislative Preparations and Considerations for STO Establishment' at 'Blockchain-led Financial Innovation, STOs Powering the Capital Market' Public-Party-Political Roundtable, People Power Party’s Special Committee on Digital Assets (Presentation, 2023)
'Regulatory Trends and Legal Issues Related to Security Token Issuance' Academic Seminar, Korea Fintech Society (Presentation, 2023)
'Global Trends in Digital Finance Legislation: Implications for the Modernization of Financial Law' Seminar, Banking Law Society (Panel, 2022)
Fintech Session, IPBA (Inter-Pacific Bar Association) East Asia Forum 2022 (Panel, 2022)
‘Current Status and Challenges of Digital Finance Regulation in the Insurance Sector’, Hyundai Marine & Fire Insurance (Lecture, 2022)
Chambers Global Practice Guides, Blockchain 2022, Law and Practice for South Korea (Co-author, 2022)
'Present and Future of MyData Technology, Business and Law' Seminar, MyData Forum (Panel, 2022)
‘Financial Metaverse Platform and Review of Legal Issues’, Financial Supervisor Service’s Finance Academy (Lecture, 2022)
‘Banking, Digital Finance and Legal Issues’, Industrial Bank of Korea (Lecture, 2022)
‘Insurance, Digital Finance and Legal Issues’, Samsung Life (Lecture, 2021)
"Current Conditions and Tasks of Financial Platform Regulation" Seminar, Lee & Ko and Digital Financial Law Forum (Moderation, 2021)
‘South Korea's crypto regulation is now expanding to foreign businesses’, Cointelegraph (Publication, 2021)
‘Toss’s GC has become a supporter for fintech companies’, Chosun Biz (Interview,, 2021)
‘Big Tech and Financial Industry: Competition, Collaboration and Evolution’ Policy Symposium, Korean Economic Association (Panel, 2020)
‘Narrowly Tailored Credit Events’, Legal Times (Publication, 2019)
‘Introduction of EU Securitization Regulation’, Law Times (Publication, 2019)
Asia Credit Trading, Citi Headquarters, NYC (Presentation, 2019)
Served as Citibank NA’s representative voting member at Asia Ex-Japan Credit Derivatives Determinations Committee (2017 - 2020)
Participated on ISDA committees such as ISDA Asia-Pacific Legal & Regulatory Working Group, ISDA Credit Steering Committee, and ISDA Credit Derivatives Market Practice Group, and member of LMA (Loan Market Association), LSTA (Loan Syndications and Trading Association), ICMA (International Capital Market Association), and EMTA (Emerging Markets Trading Association) (2010 - 2020)
Gave a lecture on financial laws to trainees at the Judicial Research & Training Institute (2009)
Assisted with World Bank’s Doing Business 2008, 2009, 2010 for Korea section (2008 - 2010)
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Most Lawyers Selected in ‘2023 Korea’s Top 100 Lawyers’ by Asia Business Law Journal 2023.12.19

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Guidelines on Foreign Exchange Business of Foreign Financial Institutions 2023.11.01

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[Financial News] Lee & Ko strengthens and reorganizes ‘Virtual Assets Investigation Response Team’ [Recent Developments] 2023.07.26

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Act on the Protection of the Virtual Asset Users (Audio Available) 2023.07.10

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Partial Amendment Bill to the Electronic Financial Transactions Act passed by the National Assembly's National Policy Committee 2023.05.19

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Korea - The FSC’s Announcement of the Guidelines on Security Tokens 2023.03.09

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Measures against Unregistered Foreign Virtual Asset Service Providers 2022.09.01

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Financial Regulation Innovation: Policy Direction of FSC 2022.08.12

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[Seoul Economic Daily] [Law Firm New Business] “Providing Solutions to Intellectual Property Rights and Responsibilities in Virtual World” 2022.07.27

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[Maeil Business Newspaper] Lee & Ko Signed an MOU, ‘Supporting ESG for Fintech Companies,' With Korea Fintech Industry Association 2022.07.12

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Deregulation of the Financial Sector’s Cloud Computing and Network Separation 2022.04.22

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[The Korea Economic Daily] Lee & Ko: Financial Compliance Team includes Former Legal Counsels and Officers from FSS, FSC and Prosecutors Office. Advises on Private Equity Fund Fraud Cases 2022.04.20

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Financial Metaverse Platform and Legal Considerations 2022.01.05
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