Advice on collection of personal credit and development of credit evaluation model and establishment of compliance system for Company K (Mar. 2017 ~ June 2017)

Lee & Ko successfully completed all necessary compliance consulting tasks in the process of Company K’s launching of an Internet-based bank based on an IT platform.

Specifically, Lee & Ko provided advice on the procedures for obtaining proper consent for the collection of customer’s personal and credit information, legality of collecting personal and credit information by ‘scrapping’, the legally permitted period of retention for personal and credit information for the purpose of building a credit evaluation model, and established a compliance system. Lee & Ko’s contribution led Company K to successfully position itself as a pioneering internet-based bank.