The Dodd-Frank Wall Street Reform and Consumer Protection Act (H.R.4173, hereafter the "Bill") is a federal statute in the United States that was signed into law by President Barack Obama on July 21, 2010. The passage of the Bill is the most sweeping change to financial regulation and represents thorough regulatory reform of the laws governing the financial industry since the Great Depression. The Bill touches every domestic financial entity and affects most foreign financial entities in the United States. While most of the Bill`s provisions are aimed at large, complex financial institutions, smaller institutions are affected by many of the regulatory changes as well. As many of the Bill`s provisions give a basic structure of reform and leave the regulators to fill in the details over the next 6 to 18 months, the process of implementing the Bill`s provisions promises to be a dynamic one. Consequently, the final shape and practical impact of the Bill are still years from being understood. This article focus on important areas of legislation that are of particular interest and implications in Korea. To review its implications in Korea, this article is organized into five parts. Part I provides overview of the fundamental issues which will be raised in next sections. Part II deal with the purpose and progress of law making of the Bill. Part III review major contents of the Bill and comment each provision` implications. Part IV analyze of its implications in Korean economy and financial supervision. Part V concludes and presents the direction for the Prospective of Korea`s relevant regulations.