Financial business registration
Preparation of documents for registration, changes, online business notification, and advertising review for money-lending businesses
To run a money lending or loan brokerage business, you register with the mayor or governor of the city or province having jurisdiction over the business office, and if you set up offices in two or more cities or provinces or engage in purchasing and collecting loan claims or online loan brokerage, you register with the Financial Services Commission. For city or province registration, the equity capital requirement is 30,000,000 won for loan brokerage, and for money lending 100,000,000 won for individuals and 300,000,000 won for corporations; training before registration and a fixed place of business usable for 6 months or more are also required. The registration is valid for 3 years.
Procedure
- Registration Difficulty Medium
The authority checks whether the statutory registration requirements, such as facilities, staff and capital, are met before issuing a registration certificate. Registration can be refused if the requirements are not met.
We will prepare loan business registration, renewal, and change documents. Depending on the type of online business, we will classify and prepare the necessary reporting and loan advertisement review submission materials.
Scope & fee
- New registration
- We will prepare new registration documents for loan business and brokerage business for 1 business office. Proof of equity capital, workplace, education, and executives are provided, and capital raising, education, online reporting, and advertising review are separate.
- Renewal or change registration
- We will fill out the application documents for your choice of renewal or change registration at 1 branch. Proof of existing registration, renewal, and change is provided, and new registration, online reporting, and advertisement review are separate.
- Online business conversion and money-lending registration amendment
- We will prepare a change registration form for loan business following the conversion of 1 existing registered business to online. Registration certificate and change data are provided, and additional communication, location-based reporting, and advertisement review are selected separately if necessary.
- Online expansion: value-added telecommunications business notification only
- We will confirm whether 1 company is subject to reporting or exemption from value-added telecommunications business and prepare reporting documents. Business and facility data are provided, but changes to loan business, location-based reporting, and creation of a new technology plan are separate.
- Online expansion: location-based service notification and protection plan
- We will prepare a report for 1 type of location-based service and a 5-page business, facility, and personal location information protection plan. Technical structure is provided, and system development, security diagnosis, loan business changes, and additional communication reporting are separate.
- Official fee source ↗
- Online expansion: location-based and value-added telecommunications notifications and plans
- We will prepare two reports for 1 company: location-based service and value-added communication business. We include 5 pages of business, facility, and protection plans according to the provided technical structure. System development, security diagnosis, loan business changes, and advertising review are separate.
- Official fee source ↗
- Prepare submission documents for money-lending advertising review
- We will check the review targets and required markings for 1 loan advertisement and prepare the submission materials. Advertising text and registration materials are provided, but advertising production, filming, registration changes, and other business reports are separate.
1. Determine the registration authority
If the business offices are in only one city or province, register with that mayor or governor. If you set up offices in two or more cities or provinces, purchase and collect loan claims, broker loans online through a loan brokerage system, or are a corporation set by law such as one with assets over 10,000,000,000 won, register with the Financial Services Commission. Only corporations may register with the Financial Services Commission.
2. Secure equity capital and a fixed place of business
City or province registration requires equity capital (net assets for individuals) of 30,000,000 won for loan brokerage, and for money lending 100,000,000 won for individuals and 300,000,000 won for corporations. Financial Services Commission registration requires 30,000,000 won for loan brokerage, 100,000,000 won for online loan brokerage, and 300,000,000 won for other money lending (500,000,000 won for purchasing and collecting loan claims). The place of business must be a building listed in the building register, excluding detached houses, multi-unit housing and lodging facilities, with a right of use secured for 6 months or more.
3. Complete the money lending business training
The representative and the general business manager (the general business manager for a corporate branch) must complete the training in advance. The training certificate submitted with the application must be for training completed within 6 months before the application date. If there is an unavoidable reason such as a natural disaster, illness or accident, the training may be taken within 1 month after registration.
4. Apply for registration and receive the certificate
Submit the registration application with proof of the business office location (certified copy of the register or a copy of the lease contract), a copy of the training certificate, proof of equity capital, and proof of a deposit or insurance or mutual aid coverage. If the application differs from the facts, you will be asked to supplement it within a set deadline of up to 30 days, and once the requirements are met the registration certificate is issued. The registration fee is set by ordinance within 100,000 won per business office.
5. Renewal, change registration and closure report
To continue the business after the 3-year validity, apply for renewal from 3 months to 1 month before the expiry date. If registered matters such as the trade name, shareholders and officers, business office, advertising phone number or equity capital change, file a change registration within 15 days, and file a closure report within 15 days after closing the business.
Required documents
- Application for registration of money lending business
- Proof of business office location (certified copy of the register or copy of the lease contract)
- Copy of the training certificate (within 6 months before the application date)
- Documents proving equity capital (net assets for individuals)
- Proof of deposit or insurance or mutual aid coverage
- For corporations: details of shareholders and officers, certificate of corporate registration
- Letter of authorization (when submitted through an agent)
Fees
The registration fee (up to 100,000 won per business office) is separate. Our office fee starts from the amount shown above and may vary depending on whether it is city or province registration or Financial Services Commission registration, and whether it is new registration, renewal or change registration; we will give you an exact quote after reviewing your documents.
Legal basis and review date
- Act on Registration of Credit Business and Protection of Finance Users, Article 3
- Act on Registration of Credit Business and Protection of Finance Users, Article 3-2
- Act on Registration of Credit Business and Protection of Finance Users, Article 3-4
- Act on Registration of Credit Business and Protection of Finance Users, Article 3-5
- Act on Registration of Credit Business and Protection of Finance Users, Article 5
- Act on Registration of Credit Business and Protection of Finance Users, Article 13
- Enforcement Decree of the Act on Registration of Credit Business and Protection of Finance Users, Article 2-6
- Enforcement Decree of the Act on Registration of Credit Business and Protection of Finance Users, Article 2-8
- Enforcement Decree of the Act on Registration of Credit Business and Protection of Finance Users, Article 2-9
- Enforcement Decree of the Act on Registration of Credit Business and Protection of Finance Users, Article 2-10
- Enforcement Decree of the Act on Registration of Credit Business and Protection of Finance Users, Article 3
- Enforcement Decree of the Act on Registration of Credit Business and Protection of Finance Users, Article 10
Check these first
- The equity capital and fixed place of business requirements must be maintained after registration, and falling short is a reason for cancellation.
- Only training certificates from within 6 months before the application date are accepted, so schedule the training to match the application.
Frequently asked questions
Can an individual register a money lending business?
Can I run a money lending business from my home or a residential space?
How long is the money lending business registration valid?
Do I need training again if the representative changes?
What happens if I register but do no business?
Does an administrative agent handle money lending business registration?
Contact us
Hwang Yunsang Administrative Office in Songdo, Incheon prepares and submits administrative documents and explains the procedure. If your situation is similar, send us a message.
📍 2697, 26F POSCO Tower-Songdo, 165 Convensia-daero, Yeonsu-gu, Incheon, Republic of Korea · 📞 010-3374-2687 · 🌐 hwangadmin.com
This guide is general information based on public sources. Requirements, documents and deadlines differ by case and by the competent agency, so please confirm them before you proceed.