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24-9 · Financial business registration

Money Lending Business Fact-Finding Survey Report

Registered money lenders and loan brokers must prepare the report prescribed by the Financial Services Commission as of June 30 and December 31 each year and submit it to the competent city/provincial governor (or the Financial Services Commission) by the end of the following month, under Article 12(9) of the Act on Registration of Credit Business and Protection of Finance Users and Article 7-2 of its Enforcement Decree. Money lenders report the loan amount and the number of borrowers, and loan brokers report the brokered amount and the number of counterparties, together with the general status of the business office and the status of lending, brokerage and borrowing. There is no exemption for businesses with no activity, so a business with no performance must still file with the figures entered as 0; failing to submit, or submitting a false or incomplete report, is subject to an administrative fine of up to KRW 50 million under Article 21(1)12 of the Act and is also a ground for business suspension. Because 6 months or more of continuous inactivity is a ground for cancellation of registration, we review whether to maintain, renew or close the registration together with the report.

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#Money Lending Business Fact-Finding Survey Report#Official check#24-9
🌐 How to Submit the Money Lending Business Status Survey Report
01

Procedure

Procedure

  1. 01

    Confirm the reporting obligation and deadline: Every money lender and loan broker that keeps its registration must report. The report as of June 30 is due by July 31, and the report as of December 31 is due by January 31 of the following year, to the city/province of registration; for businesses registered with the Financial Services Commission, the Commission has jurisdiction.

  2. 02

    Reconcile records as of the reference date: Collect the list of loan contracts or brokerage records, borrowing contracts and bank statements, and the financial statements or trial balance as of the reference date. Check that the figures and dates in the registration certificate, corporate register, financial data and bank statements match, and organize the basis for the general status of the business office and the lending, brokerage and borrowing status.

  3. 03

    Prepare the report (including no-activity businesses): Prepare it in the format prescribed by the Financial Services Commission. If there was no lending or brokerage during the period, enter 0 for the performance items and enter financial items such as capital and borrowings at their actual amounts. Overstating or understating performance is a false entry subject to an administrative fine.

  4. 04

    Submit to the city/province: Submit the report to the competent city/provincial governor by the end of the month following the reference date. Omitting even some items is subject to an administrative fine, so check for blanks before submission, and keep a copy of the submitted report and supporting records for the next report and inspections.

  5. 05

    Review maintaining, renewing or closing the registration: Registration may be cancelled after 6 months or more of continuous inactivity, and re-registration is barred for 5 years after cancellation and for 3 years after voluntary closure. To continue operating, apply for renewal from 3 months to 1 month before the expiry date. Transfer, acquisition or lending of the registration certificate is prohibited, so a business is handed over through a change of the corporation's shareholders and officers and a change registration within 15 days.

02

Filing route

Filing route

City or province of registration (the Financial Services Commission for businesses registered with it)

Confirm the current filing office, jurisdiction, and online availability on the official website.

Official check
Actual processing agencyCompetent Korean authority or official service · Competent Korean authority or official service
Statutory and policy authorityCompetent Korean authority or official service
Online routeOfficial check
03

Deadlines & processing notes

Deadlines & processing notes

Check deadlines and next steps against the notice, filing date, and any request for additional documents.Official check
04

Basic documents

Basic documents

Basic documents0 / 8

Skipping the report because there was no activity leads to an administrative fine starting at KRW 6 million for a corporation's first violation, and if inactivity continues beyond 6 months and the registration is cancelled, you cannot register again for 5 years, so decide on reporting and on keeping the registration at every reference date.

Scope of services

Scope of services

Hwang Yunsang Administrative Agent Office prepares and translates documents for administrative agencies, submits them on your behalf, and guides you through permit, application, and notification procedures. Services that require the principal’s personal appearance, principal’s application, or electronic signature may be limited in delegation.