The team at Deloitte Anjin offers services covering tax controversy, global trade advisory and transfer pricing. As for their trade advisory group, it helps clients on customs audit and investigation assistance, remedies through customs appeals, FTA origin management consulting, customs and trade advisory services and transfer pricing consulting services. It has Japanese, Chinese and Korean services groups to expand its business market and meet clients’ needs. It provide specialised services for various sectors, including consumer and industrial products, energy and resources, financial services industry, life sciences and healthcare, the public sector and technology, media and telecoms.
Sunyoung Kim helped one of the biggest conglomerate companies on a transactional matter related to carving out and transferring one of its business units globally.
Jong Hwa Oh, Young Pil Kim, Seung Woong Choi, Min Soo Seo, Sung Soo Woo and Ho Bin Lim have been promoted at Deloitte. All of them have more than 14 years’ tax practice in South Korea.
Kim & Chang is comprised of more than 100 attorneys and CPAs. It has more than 50 former officers from National Tax Services, Tax Tribunal, Tax and Customs Offices of the Ministry of Strategy & Finance and the Korea Customs Service. Its practice covers various tax practices such as tax planning, M&A, tax audit defence, tax appeals/litigation.
The team was quite active in tax controversy recently, dealing with beneficial ownership, deductibility of management service fees, conditions for a tax-qualitied spin-off, applicable interest rates on shareholder loans and other matters. Apart from that, it is also active on M&A issues, including tax structuring and due diligence practice.
The firm hired three tax lawyers and three CPAs last year. Two CPAs, one tax lawyer and one foreign attorney left.
“Excellent. With deep knowledge on Korean local taxes and international tax laws, it provided excellent work.”
Jay Shim leads the international tax practice at Lee & Ko. The team is comprised of more than 90 professionals with various backgrounds such as former judges, CPAs and former NTS auditors. Its practice covers international tax and transfer pricing areas. The group handles tax audits for many multinational firms. In addition, it has a strong litigation practice. Its litigation group has four attorneys who have a strong capability in tax matters at the Supreme Court of Korea.
Six practitioners joined the firm in the last two years. Partner Duk Won Suh and John Kangwoon Kwak left the firm in 2018.
“The quality of Lee & Ko's work was excellent overall from my experience. Most importantly, the attorneys in Lee & Ko’s tax team have extensive prior experience and knowledge in all aspects of tax law, which makes their practice prominent in the market. Another strength of Lee & Ko is the responsiveness and client-friendliness in their legal services.”
Samil PwC has more than 600 professionals in its tax practice. Its covers global inbound and outbound tax services, transfer pricing, middle market services, global mobility and business process outsourcing services. Practice areas covered include tax controversy and dispute resolution, private equity, family and business succession for wealthy individuals and private business, and customs and international trade. Currently, the team is comprised of 50 former officials from both the central and local government. It has a dedicated Japanese tax team to advise Japanese investors and Japanese-invested companies.
Seungdo Nah helped one of the largest firms in the Korean cement industry on a tax controversy matter. The firm provided advice, including the preparation of a petition for reassessment and obtaining a refund of overpaid tax.
Samil PwC hired some professionals that once worked at Deloitte Anjin, including a partner, two directors and three managers. It also hired eight senior tax and customs officials from National Tax Services and the Korea Customs Service in order to improve its tax controversy and dispute resolution capabilities. Nine practitioners left the firm, including two executive directors, one partner and six directors.
Hee Chan Byun, Choon Cho and Hyeon Jin Kim lead tax practice at Shin & Kim. The team is comprised of 25 practitioners, including tax lawyers, CPAs and tax accountants. Its practice covers tax litigation and administrative appeal, tax advice, tax investigation and advisory service for foreign clients. It has the capability to offer accurate and innovative tax advice in transactional areas such as M&A, real estate, business succession, labour, financial and general corporate matters.
The tax team is helping a client by providing inheritance tax advice and claiming for cancellation of the inheritance tax imposition. In addition, it is also assisting SL Foundation with the cancellation of a gift tax imposition.
Seung Soon Lim and Oh-Young Jeon are two key practitioners at Yoon & Yang. The firm has more than 40 practitioners including partners, associates, foreign attorneys, CPAs, customs attorneys, certified tax accountants and expert advisers. Its practice covers tax litigation and disputes, customs and tax audit, general tax advice and tax compliance. Its clients include government, SMEs, large conglomerates and wealthy individuals. In addition, the tax team also works in sectors such as intellectual property, international trade, white collar and criminal defence to provide a better service.
In the last year, the team helped a client that is the number one cryptocurrency exchange in South Korea on both tax controversy and general corporate tax issues. It provided tax advice and investigation assistances, such as a corporate tax audit. It was the first tax investigation conducted on a domestic cryptocurrency exchange and was valued at around $32 million.
The firm hired 11 practitioners include customs attorneys, CPAs, expert advisers, partners and certified tax accountants. Ju-Hwang Lee, Sung Koo Cho and Yong Tae Kim left the firm.
“Yoon &Yang has successfully brought the attention of all the legal issues based on their accurate understanding of the facts and market situation to devise appropriate legal solutions. Especially, given the fact it is critical for our industry to protect the customer’s personal information, Yoon & Yang successfully consulted us for the preparation of the tax authorities’ investigation process without any issues (e.g. leakage of personal information). It helped us to maintain a strong market share in Korea.”
The key practitioners at Yulchon include Yun Heui Cho, Kyu Dong Kim and Kun Jai Kim at Yulchon. Its practice covers international tax, due diligence, dispute resolution and litigation and corporate tax. It also advises clients on M&A, inbound and outbound structuring, cutting-edge ruling requests, compliance, tax audit defence and tax appeals. In 2019, Yulchon joined Taxand as a new member in South Korea, which allows it to service clients with cross-border tax advice.
Doog Soo Kim, Kyu Dong Kim and Joon Yung Jo assisted Mirae Asset Global Investment with a general corporate issue. The team provided tax advice on investment structuring by considering restrictions under applicable laws and the resultant tax effects.
Chung Sik Yoon, Dong Hoon Ha, Young Suk Oh, Joo Heon Lee, Mun Ki Hong and Jeremy Everett joined the firm. Consultant Harayama Michitaka and Partner Beom June Kim left the firm in 2018.
“Outstanding in all aspects.”