금융회사 인허가 매뉴얼 — (3) 금융투자 · 제3권 온라인소액투자중개·대주주 변경승인 — English Edition
Two questions sit at the edges of the Korean financial investment licence. First: what does it take to run a securities crowdfunding platform, a business the legislature deliberately let in on relaxed terms? Second, and far more often asked: when does a change in who owns a licensed financial investment firm need the regulator’s approval — and when does it not? Anyone buying into a Korean securities company, asset manager or advisory firm has to answer the second before signing. This volume is the Financial Supervisory Service’s own guidance on both.
The Korean original runs to 471 pages and covers the whole of financial investment licensing. It is published here in three volumes, each complete in itself and each free:
Volume I — Authorization — 176 pages
Volume III — Investment Crowdfunding and Changes of Major Shareholder — this volume, 102 pages
| Part | Subject |
|---|---|
| Part 6 | Registration of an online small-amount investment brokerage business — overview, procedure, review criteria and review method, reference matters, with four annexes including the forms and the statutes and regulations behind the registration requirements |
| Part 7 | Approval of a change of major shareholder of a financial investment business entity — overview, procedure, the review requirements, how to complete the application, the contents of the application, and the related statutes and regulations |
This volume is translated in full — every requirement, every table, every form, every attachment list and every copy count, and the statutes and regulations the manual reproduces behind them.
Terminology follows the official English translations of the Financial Investment Services and Capital Markets Act and the Act on Corporate Governance of Financial Companies published by the Korea Law Translation Center, wherever they exist. Four Korean words that careless English collapses into one are kept apart throughout: 인가 is authorization, 등록 is registration, 승인 is approval and 허가 is permission. The attached Tables of the Regulation on Financial Investment Business, which carry the minimum capital, personnel and major shareholder thresholds, have no official English translation of any kind; they are translated here in full.
Where the official English of two Acts collides — the Act on Corporate Governance of Financial Companies renders 대주주 “large shareholder” and 주요주주 “major shareholder” — this edition follows the FSCMA usage (major, largest, principal) consistently across all three volumes, and a note at the front explains the choice. Where the Korean original itself is inconsistent or carries a typographical error, it is reproduced as printed and a translator’s note says so.
The manual is explanatory and, as its own front matter states, has no binding force. Where it differs from the Acts, their Enforcement Decrees or the supervisory regulations, those instruments govern. Licensing requirements, thresholds and forms change, and a manual of this kind is revised periodically; this edition reflects the version dated December 2025.
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