Robin Baik & Daniel Lee Unpack Korea’s Anti-Money Laundering Regime in 2021
June 1, 2021
Publication: International Comparative Legal Guide
Writing in a chapter of the International Comparative Legal Guide’s “Anti-Money Laundering 2021,” Kobre & Kim’s Robin Baik and Daniel Lee, both based in Seoul, explore the landscape of anti-money laundering laws and regulations in Korea.
Alongside co-authors Jeena Kim and Daniel Joonwu Park of Bae, Kim & Lee, the chapter provides an explanation of the crime of money laundering in Korea and prosecution of criminal money laundering offenses. The authors then dive into a discussion on the imposition of requirements and unpack the obligations that are necessary for financial institutions and other designated businesses to understand, such as establishing anti-money laundering programs, reporting foreign exchange transactions and enhanced due diligence requirements for these organizations.