금융회사 인허가 매뉴얼 — (3) 금융투자 · 제2권 일반사모집합투자업 · 투자자문업 · 투자일임업 등록 — English Edition
Setting up a private fund manager in Korea is a registration, not an authorization — and the difference decides what a firm must build before it applies, what it files, and what it must keep doing afterwards. This volume is the Financial Supervisory Service’s own step-by-step guidance for the three registration routes: a new general private collective investment business, a securities company adding private fund management alongside its existing business, and investment advisory and discretionary investment business. It includes the regulator’s answers to the questions applicants get wrong most often.
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 II — Registration of General Private Collective Investment, Investment Advisory and Discretionary Investment Business — this volume, 142 pages
Volume III — Investment Crowdfunding and Changes of Major Shareholder — 102 pages
| Part | Subject |
|---|---|
| Part 3 | Registration of a general private collective investment business — flow chart, detailed procedure, requirements, step-by-step detail, how to complete the application, guidance on outsourcing physical facilities, principal guidance after registration, common misunderstandings with questions and answers, and authoritative interpretations, with nine annexes of forms |
| Part 4 | Registration by a securities company for the concurrent operation of a general private collective investment business, with its annexes |
| Part 5 | Registration of investment advisory and discretionary investment business — definitions, the range of financial investment instruments, the procedure, how to complete the application, principal questions and answers, reference matters, eight annexes and the authoritative interpretations |
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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