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Choon Cho and In-Hwa Chung are the lead tax partners at Shin & Kim. The department has two other partners and 12 fee earners.The firm advised Korea Lottery Service in a dispute about its entitlement to an exemption or a reduction in corporate income ... [more]

Choon Cho and In-Hwa Chung are the lead tax partners at Shin & Kim. The department has two other partners and 12 fee earners.

The firm advised Korea Lottery Service in a dispute about its entitlement to an exemption or a reduction in corporate income tax after its relocation from Seoul to one of the provinces. The dispute centred on the question of whether an enterprise is not entitled to tax exemption if it is classified as a lottery operator. The National Tax Service assessed the company for about W66.8 billion in income tax as they claimed that it was a lottery operator in substance. Shin & Kim successfully argued that the client is not a lottery operator, and won a decision in favour of the firm. The entire tax assessment was waived.

Cho and Chung are representing a Dutch company in a case focusing on the principle of substance over form.