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Sung Bin Jhung
Partner
- TEL 82 2 6182 8507
- FAX 82 2 6003 7036
- E-MAIL sbjhung@yoonyang.com
Biography
Sung Bin Jhung is a partner at Yoon & Yang LLC and his main practice areas are initial public offering (IPO) and anti-money laundering (AML) matters.
Advisory on delisting eligibility reviews and global IPOs
Mr. Jhung, with 10+ years of experience, has successfully represented and guided more than 100 companies through critical delisting crises, including eligibility reviews for delisting triggered by such complex issues as embezzlement, breach of trust, accounting violations, and audit disclaimers, thereby ensuring the successful maintenance of their listing status.
As a Certified IPO Consultant, Mr. Jhung has a proven track record in advising on KOSPI, KOSDAQ, and NASDAQ listings. He was honored with the Grand Prize in the Advisory category at the 6th Korea Legal Awards. Leveraging his qualification as a New York State attorney and prior experience at a major US law firm, Mr. Jhung possesses a distinct competitive edge in cross-border IPOs, including the listing of foreign companies from the US, UK and China on the KOSDAQ market. His in-depth understanding of the operational intricacies and workflows of VCs, IBs, issuers, and accounting firms allows him to seamlessly mediate conflicting interests among stakeholders, leading to successful outcomes across the entire corporate lifecycle – from series investment and pre-IPOs to SPAC mergers.
As a rare expert who masters both IPO advisory and delisting defense within the capital market, Mr. Jhung is a prolific author and speaker, contributing to specialized publications, seminars, and media columns. In recognition of his significant contributions to the development of the capital market, he was honored with the Korea Exchange Chairman’s Commendation in 2026.
Financial regulatory inspections & sanctions and AML
Mr. Jhung plays a pivotal role within Yoon & Yang’s Financial Practice Group, a team widely recognized for its top-tier capabilities in responding to regulatory inspections and sanctions. Since the tightening of AML regulations by financial authorities, Mr. Jhung has dedicated over a decade to successfully representing a broad spectrum of clients, ranging from traditional financial institutions (i.e., banks and securities firms) to digital finance entities, including virtual asset service providers (VASPs).
Mr. Jhung has consistently delivered successful defenses in inspections and sanctions proceedings led by the Financial Supervisory Service (FSS) and the Korea Financial Intelligence Unit (KoFIU). Furthermore, he leads AML independent audits for major financial institutions. Mr. Jhung is a Certified Anti-Money Laundering Specialist (ACAMS) and is the author of the Lexology AML Korea Chapter, a world-renowned legal publication, further cementing his international reputation as a leading expert in the field.
Advisory on delisting eligibility reviews and global IPOs
Mr. Jhung, with 10+ years of experience, has successfully represented and guided more than 100 companies through critical delisting crises, including eligibility reviews for delisting triggered by such complex issues as embezzlement, breach of trust, accounting violations, and audit disclaimers, thereby ensuring the successful maintenance of their listing status.
As a Certified IPO Consultant, Mr. Jhung has a proven track record in advising on KOSPI, KOSDAQ, and NASDAQ listings. He was honored with the Grand Prize in the Advisory category at the 6th Korea Legal Awards. Leveraging his qualification as a New York State attorney and prior experience at a major US law firm, Mr. Jhung possesses a distinct competitive edge in cross-border IPOs, including the listing of foreign companies from the US, UK and China on the KOSDAQ market. His in-depth understanding of the operational intricacies and workflows of VCs, IBs, issuers, and accounting firms allows him to seamlessly mediate conflicting interests among stakeholders, leading to successful outcomes across the entire corporate lifecycle – from series investment and pre-IPOs to SPAC mergers.
As a rare expert who masters both IPO advisory and delisting defense within the capital market, Mr. Jhung is a prolific author and speaker, contributing to specialized publications, seminars, and media columns. In recognition of his significant contributions to the development of the capital market, he was honored with the Korea Exchange Chairman’s Commendation in 2026.
Financial regulatory inspections & sanctions and AML
Mr. Jhung plays a pivotal role within Yoon & Yang’s Financial Practice Group, a team widely recognized for its top-tier capabilities in responding to regulatory inspections and sanctions. Since the tightening of AML regulations by financial authorities, Mr. Jhung has dedicated over a decade to successfully representing a broad spectrum of clients, ranging from traditional financial institutions (i.e., banks and securities firms) to digital finance entities, including virtual asset service providers (VASPs).
Mr. Jhung has consistently delivered successful defenses in inspections and sanctions proceedings led by the Financial Supervisory Service (FSS) and the Korea Financial Intelligence Unit (KoFIU). Furthermore, he leads AML independent audits for major financial institutions. Mr. Jhung is a Certified Anti-Money Laundering Specialist (ACAMS) and is the author of the Lexology AML Korea Chapter, a world-renowned legal publication, further cementing his international reputation as a leading expert in the field.
Practice Areas
Experience
- 2015-present Yoon & Yang LLC
- 2025-present Instructor, Compliance Monitoring Council, Korea Exchange
- 2024-present Columnist, Seoul Economic Daily
- 2022 Nelson Mullins Riley & Scarborough LLP
Education
- 2021 Duke University School of Law (LL.M.)
- 2015 Sogang University School of Law (J.D.)
- 2010 Korea University (B.A. in Chinese Literature and Language)
Qualifications
- Admitted to bar, Korea (2015); New York (2024)
- IPO Specialist Consultant, SGA (2024)
- Certified Anti-Money Laundering Specialist, ACAMS (2020)
Representative Matters
[Response to KRX delisting and substantive review of listing eligibility]
- Company A listed on KOSPI: Resolving capital impairment → Exclusion from substantive review
- Company B listed on KOSPI: Decision on closure of rehabilitation process → Remain listed after being granted period for improvement
- Company C listed on KOSPI: Window dressing, embezzlement & breach of trust → Exclusion from substantive review
- Company D listed on KODAQ: Large-scale impairment loss and change of major shareholder → Remain listed after being granted period for improvement
- Company E listed on KOSDAQ: Embezzlement & breach of trust → Exclusion from substantive review
- Company F listed on KOSDAQ: Change of major shareholder among the supervised list of stocks → Remain listed after being granted period for improvement
- Handled substantive review of eligibility for listing for various sectors (i.e., electronics, electrical, automobile, IT, bio, healthcare, finance, and entertainment)
[Initial public offering (IPO) on KRX]
- Advised MFC on KOSDAQ listing
- Advised Cellromax Science on KOSDAQ listing through merger with SPAC
- Advised Uracle on KOSDAQ listing
- Advised Osang Healthcare on KOSDAQ listing
- Advised E8 on KOSDAQ listing
- Listing on NASDAQ: Advised on merger between GLAAM and Jaguar Global Growth Corporation I; advised GLAAM on NASDAQ listing
- Listing on KOSPI: Advised a domestic e-commerce company (market cap: approx. trillions in Korean Won) on KOSPI listing; advised a generation facility company on KOSPI listing with a large-size Korean securities firm participating as an underwriter
- Listing on KOSDAQ: Advised a domestic AI company (market cap: approx. KRW 2 trillion) on KOSDAQ listing; advised a domestic chemical company (market cap: approx. KRW 400 billion) on KOSDAQ listing
- Listing of foreign entity on Korean stock market: Advised Wing Yip Food (China) Holdings Group Limited on KOSDAQ listing; advised various overseas bio & healthcare companies on KOSDAQ listing
- Listing of SPAC via merger: Advised on listing of a special purpose acquisition company (SPAC) via merger by a securities firm
- Advised on issues related to watching period prior to listing or regular internal control inspection of a newly-listed company
- Advised a non-listed startup on series investment and pre-IPO investment
[Response to KRX regulations on dishonest disclosure and mandatory holding (lock-up)]
- Company A listed on KOSDAQ: Explication on event equivalent to a force majeure → Exemption from found to have engaged in dishonest disclosure
- Companies B & C listed on KOSDAQ: Explication on a single act causing numerous disclosure breaches → Addressing grounds for substantive review of eligibility for listing due to deduction of penalty points
- Companies D, E & F listed on KOSDAQ: Review of fair disclosure to estimate earnings and criteria for determination of timely disclosure
- Companies G & H listed on KOSDAQ: Review of duty of disclosure related to M&A
- Companies I & J listed on KOSDAQ: Response to KRX’s exceptional application of mandatory holding period
- Companies K, L & M listed on KOSDAQ: Response to KRX’s determination as to violation of mandatory holding period
[FIU’s anti-money laundering (AML)]
- Represented commercial banks in responding to inspections by the FSS and FIU
- Represented large financial companies in responding to sanctions by the FSS and penalty charges imposed by the FIU
- Handled independent audit on AML of a foreign bank’s branch
- Handled independent audit on AML for electronic finance companies and advised them on AML regulations
- Handled independent audit on AML for virtual asset companies and advised them on AML regulations
- Advised foreign banks on Korea’s AML laws and developed countermeasures
[Response to FSS’s supervision and inspection of financial companies]
- Advised a commercial bank on responding to inspections and sanctions by the FSS
- Advised a securities firm on responding to inspections and sanctions by the FSS
- Advised an asset manager on responding to inspections and sanctions by the FSS
- Advised a credit rating firm on responding to inspections and sanctions by the FSS
- Advised a savings bank on responding to inspections and sanctions by the FSS
Awards
- Commendation from the Chairman of Korea Exchange (KRX) (2026)
- Advisory Category, Korea Legal Award, Money Today (2023)
Publications
[Book]
- IPO Manual for Practitioners, Booktree (Co-author, 2025)
[Domestic Contributions]
- How to Avoid Delisting, Seoul Economic Daily (2024–present)
[International Contributions]
- Korea Chapter, Anti-Money Laundering, Lexology Panoramic, Law Business Research (Co-author, 2024-2026)
- Korea Chapter, Anti-Money Laundering, Lexology Getting the Deal Through, Law Business Research (Co-author, 2023)
Languages
Korean, English and Chinese
