Lee & Ko’s Finance & Securities Group successfully completed projects for major financial companies across all financial sectors during the first half of 2025. These clients included BNK Financial Group, Suhyup Bank, DB Life Insurance, MetLife Insurance, DB Insurance, Lotte Insurance, Korean Reinsurance, Seoul Guarantee Insurance, Hyundai Card, Hyundai Commercial, Kyobo AXA Investment Managers, Daishin Securities, and Hyundai Capital, spanning banks, securities firms, card companies, capital firms, and savings banks. The projects involved preparing and submitting the newly introduced "Accountability Map" to the financial supervisory authorities in accordance with the amended Act on the Corporate Governance of Financial Companies, as well as refining the internal control systems of the respective financial institutions.
The introduction of the Accountability Map requires each financial company to prepare and submit a document to the financial authorities that specifically outlines the responsibilities of the CEO and executives related to internal controls. The implementation of this system necessitated systematic and detailed preparation by each financial company, integrating both legal and practical perspectives.
In response, Lee & Ko’s Finance & Securities Group went beyond simple legal advisory in these projects, playing a pivotal role in ensuring the effective operation of each financial company's internal control system as follows:
- Designing an Effective Accountability Allocation Structure: We designed a customized Accountability Map without gaps or redundancies by meticulously analyzing each company's work procedures and lines of command and supervision.
- Refining Overall Internal Regulations related to Internal Control: Through a detailed analysis of approximately 80 major laws and regulations related to internal control, we reviewed and amended key internal regulations, including the internal control standards.
- Providing a Comprehensive Diagnosis and Improvement Plan for the Internal Control System: We contributed to establishing a practically operable internal control system by comprehensively diagnosing potential risk factors in the existing system and proposing improvement measures.
Through the successful execution of these projects related to the introduction of the Accountability Map, our Finance & Securities Group has solidified its position as the most trusted legal advisor in the field of financial regulation by enabling our clients to build stable internal control systems amidst a rapidly changing financial regulatory environment.