Asialaw Profiles
The Guide to the legal markets of the Asia-Pacific

Kim & Chang’s tax practice is one of the best in Korea and is led by partner Woo Hyun Baik. Peers describe the practice as “well connected, influential and generally excellent”. The firm’s tax practitioners are generally hired from large accounting firms ... [more]

Kim & Chang’s tax practice is one of the best in Korea and is led by partner Woo Hyun Baik. Peers describe the practice as “well connected, influential and generally excellent”. The firm’s tax practitioners are generally hired from large accounting firms or related government organisations, such as the National Tax Service and the Ministry of Finance & Economy, giving the practice strong relationships with both regulators and potential counterparties.

The firm has strengthened its already-outstanding tax capabilities with its hire of partner Alex Yang from Ernst & Young. The practice therefore boasts a long list of domestic and multinational corporations that utilise its capabilities.

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Yulchon has successfully advised a number of high profile clients over the last year in the tax area. Partner Sai Ree Yun heads the firm’s tax group, which welcomed new hires such as consultant Jeong Ki Park from Jongro District Tax Office and senior ... [more]

Yulchon has successfully advised a number of high profile clients over the last year in the tax area. Partner Sai Ree Yun heads the firm’s tax group, which welcomed new hires such as consultant Jeong Ki Park from Jongro District Tax Office and senior adviser Hongki Kim, a former judge in a tax tribunal. The firm also added John Jangwoon Kwak, a foreign attorney from Ernst & Young.

In an ongoing high profile case, partner Dong Soo Kim is acting for three multinational companies that are appealing tax authorities’ rejection of refund claims for stock compensation costs charged back to their Korean subsidiaries. This dispute is in relation to the Corporate Income Tax Act Enforcement Decree, which allows for tax deductions for charge-back of stock option costs for a parent company.

Lead partner Sai Ree Yun also represented Coca-Cola Korea in a National Tax Tribunal regarding the cancellation of a VAT of KRW9.8 billion for marketing costs. Coca-Cola Korea argued that it had worked with its Korean subsidiary, Coca-Cola Korean Bottling Company, and was thus exempt from VAT.

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Bae Kim & Lee’s tax practice has expanded this year, with the firm adding nine attorneys to its ranks. The additions include partner Jong Pil Kim from the Seoul Administrative Court, expert adviser Dae Seung Im from the Incheon Customs Office, and foreign ... [more]

Bae Kim & Lee’s tax practice has expanded this year, with the firm adding nine attorneys to its ranks. The additions include partner Jong Pil Kim from the Seoul Administrative Court, expert adviser Dae Seung Im from the Incheon Customs Office, and foreign legal counsel Chan Ho Lee from the Ministry of Unification.

In a highlight tax case this year, attorneys Keon Ho Lee and Seung Ho Kim represented Diageo Korea and Diageo Scotland in a Tax Tribunal against the Seoul Customs Office, which rejected the transaction value of imported goods because of the influence of related-party transactions. The original assessment of KRW206 billion was revised to KRW195 billion, but the firm filed an appeal with the Tribunal.

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This firm has an enviable list of clients including Korea Electric Corporation, SK Energy, Hanjin Group, McDonald’s Korea, Lotte Department Store, Posco, Epson Korea and Korean Air.Attorneys Mee-Hyon Lee and Young Uk Park are handling a high profile ... [more]

This firm has an enviable list of clients including Korea Electric Corporation, SK Energy, Hanjin Group, McDonald’s Korea, Lotte Department Store, Posco, Epson Korea and Korean Air.

Attorneys Mee-Hyon Lee and Young Uk Park are handling a high profile dispute regarding the taxation of aircraft through sale and leaseback transactions for Korean Air. In these deals, titles to the aircraft are transferred to the financial investor by an aircraft lease agreement. When the lease ends, the airline retains ownership of the aircraft. This US$2 million case will set a precedent on whether financial investors, who have ownership in name only, should pay acquisition tax. It could affect future aircraft acquisition deals in Korea.

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Shin & Kim’s strong tax practice includes a team of 30 tax lawyers and certified public accountants, many of whom were hired from government agencies like the National Tax Service and the Ministry of Strategy & Finance.In a highlight case, a firm team ... [more]

Shin & Kim’s strong tax practice includes a team of 30 tax lawyers and certified public accountants, many of whom were hired from government agencies like the National Tax Service and the Ministry of Strategy & Finance.

In a highlight case, a firm team led by partner Byoung Joo Lee advised Korea Lottery Service in a dispute with a client regarding an exemption from or reduction of KRW66.8 billion of corporate income tax after it had relocated from Seoul to a more provincial area. Lee successfully argued that the client was not a lottery operator and could not receive tax exemptions.

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Hwang Mok Park possesses strong capabilities on both domestic tax issues and matters that involve customs and tariffs, including tax minimisation restructuring, strategic tax planning and countermeasures for tax investigation.Partner Woo Young Choi, ... [more]

Hwang Mok Park possesses strong capabilities on both domestic tax issues and matters that involve customs and tariffs, including tax minimisation restructuring, strategic tax planning and countermeasures for tax investigation.

Partner Woo Young Choi, head of the firm’s litigation department, is also heavily involved in its tax practice and successfully completes numerous tax appeals.

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Partner Oh-Young Jeon, head of Yoon & Yang’s tax practice, is one of the most active and well respected tax attorneys in Korea.Oh-Young Jeon and Seung Soon Lim are acting for Samsung-Veolia Incheon Environment against the Minister of the Ministry of ... [more]

Partner Oh-Young Jeon, head of Yoon & Yang’s tax practice, is one of the most active and well respected tax attorneys in Korea.

Oh-Young Jeon and Seung Soon Lim are acting for Samsung-Veolia Incheon Environment against the Minister of the Ministry of Strategy & Finance in a pending KRW5.9 billion dispute over tax exemption for foreign investment by French company Veolia Water under the Foreign Investment Promotion Act. The tax was repealed by an appellate court, but is now ongoing in the Supreme Court.

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