Incorporation is required for the following activities: mutual savings banks, short-term financing businesses, credit information companies, merchant banks.
"Article 3 (Form of Mutual Savings Banks)
Each mutual savings bank shall be a stock company.
[...]
Article 7 (Restriction on Establishment of Branches)
(1) A mutual savings bank shall not establish any branch office or liaison office (which includes a branch office or administration office that performs part of its business affairs, or any other similar place; hereinafter referred to as "branch office or similar"), other than its principal office: Provided, That the foregoing shall not apply where a branch office or similar is established by the relevant mutual savings bank within the business area under Article 4 after obtaining a license from the Financial Services Commission as prescribed by Presidential Decree.
(2) Notwithstanding the proviso of paragraph (1), a mutual savings bank prescribed by Presidential Decree may establish a branch office or similar outside the business area under Article 4 when it obtains a license as provided by Presidential Decree.
(3) A mutual savings bank seeking to establish a branch office or similar under the proviso of paragraph (1) or paragraph (2) shall, for each of such branch office or similar, increase the capital by at least the amount prescribed by Presidential Decree. In such cases, the capital means paid-in capital.
(4) The Financial Services Commission may attach conditions to a license granted pursuant to the proviso of paragraph (1) and paragraph (2).[...]" (Mutual Savings Banks Act (No. 2333 of 1972), last amended by Act No. 17915 of 2021, Articles 3 and 7 [unofficial translation])
---------------------
" Article 360 (Short-term Financing Business of Financial Institutions)   
(1) Any person who intends to run the business prescribed by Presidential Decree as the business of issuing, discounting, trading, arranging and underwriting bills, the maturities of which come within the period prescribed by Presidential Decree for up to one year, the business of guarantee, and any business incidental thereto prescribed by Presidential Decree (hereinafter referred to as "short-term financing business"), shall obtain authorization from the Financial Services Commission.
(2) Any person who intends to obtain authorization under paragraph (1) shall meet each of the following requirements:
1. The person is required to be a bank or other financial institution prescribed by Presidential Decree; [...]" (Financial Investment Services and Capital Markets Act (No. 8635 of 2007), last amended by Act No. 17799 of 2020, Article 360 [unofficial translation])
---------------------
"Article 5 (Qualified Licensee by Type of Credit Information Business)
(1) A person who may be licensed to engage in credit inquiry business, credit investigation business, and claims collection business, shall be limited to any person falling under any of the following subparagraphs: 
1. A corporation, at least 50/100 of the capital of which is invested by financial institutions, etc. prescribed by Presidential Decree;
2. The Korea Credit Guarantee Fund established pursuant to the Credit Guarantee Fund Act;
3. The Korea Technology Finance Corporation established pursuant to the Korea Technology Finance Corporation Act;
4. A credit guarantee foundation established pursuant to the Regional Credit Guarantee Foundation Act;
5. The Korea Trade Insurance Corporation established pursuant the Trade Insurance Act;
6. A corporation, at least 50/100 of the capital of which is invested by a person who is licensed to engage in all or some of the operations referred to in Article 4 (1) 1 through 3: Provided, That cases where an investor engages in the same kind of operation with the corporation invested, shall be excluded.[...]" (Credit Information Use and Protection Act (No. 4866 of 1995), last amended by Act No. 17799 of 2020, Article 5 [unofficial translation])
---------------------
"Article 3 (Business Authorization, etc.)   
(1) Those who intend to be engaged in the businesses prescribed by each subparagraph of Article 7 (1) shall obtain authorization from the Financial Services Commission. 
(2) Those who are eligible to obtain authorization under paragraph (1) shall satisfy the requisites falling under any of the following subparagraphs: 
1. They shall be stock companies whose paid-in capital is not less than 30 billion won; [...]" (Merchant Banks Act (No. 2825 of 1975), last amended by Act No. 8635 of 2007, Article 3 [unofficial translation])
Mutual Savings Banks Act (No. 2333 of 1972), last amended by Act No. 17915 of 2021, Articles 3 and 7 
Financial Investment Services and Capital Markets Act (No. 8635 of 2007), last amended by Act No. 17799 of 2020, Article 360
Credit Information Use and Protection Act (No. 4866 of 1995), last amended by Act No. 17799 of 2020, Article 5
Merchant Banks Act (No. 2825 of 1975), last amended by Act No. 8635 of 2007, Article 3
[<a href="https://www.law.go.kr/lsSc.do?section=&menuId=1&subMenuId=15&tabMenuId=81&eventGubun=060101&query=%EC%83%81%ED%98%B8%EC%A0%80%EC%B6%95%EC%9D%80%ED%96%89#undefined">Act</a>],[<a href="https://elaw.klri.re.kr/eng_mobile/viewer.do?hseq=49397&type=part&key=23">Act_Eng</a>],[<a href="https://www.law.go.kr/LSW/lsSc.do?section=&menuId=1&subMenuId=15&tabMenuId=81&eventGubun=060101&query=%EC%9E%90%EB%B3%B8+%EC%8B%9C%EC%9E%A5#undefined">Act</a>],[<a href="https://elaw.klri.re.kr/eng_service/lawView.do?hseq=43324&lang=ENG">Act_Eng</a>],[<a href="https://www.law.go.kr/LSW/lsInfoP.do?lsiSeq=213953&ancYd=&ancNo=&efYd=20210804&nwJoYnInfo=Y&ancYnChk=0&efGubun=Y&vSct=%EC%8B%A0%EC%9A%A9%20%EC%A0%95%EB%B3%B4#">Act</a>],[<a href="https://elaw.klri.re.kr/eng_mobile/viewer.do?hseq=46276&type=part&key=23">Act_Eng</a>],[<a href="https://www.law.go.kr/lsSc.do?menuId=1&subMenuId=17&tabMenuId=93&query=%EC%A2%85%ED%95%A9#undefined">Act</a>],[<a href="https://elaw.klri.re.kr/kor_service/lawView.do?lang=ENG&hseq=4180&joseq=JO0003000">Act_Eng</a>]