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Hosan Law Corporation

ONE IFC, FI. 6, GUKJEGEUMYUNG-RO 10- GIL, YOUNGDEUNGPO-GU, SEOUL, SOUTH KOREA
Tel:
Work +82 2 6138 6700
Fax:
Fax +82 2 6138 6711
Email:
Web:
www.deloittelegal.com

Man Soo Han, Managing partner

Managing partner, Man Soo Han at Deloitte Legal discusses how the firm is adapting to clients' changing needs.

What do you see as the main points that differentiate Hosan Law Corporation from your competitors?

Tax appeals and litigation are core practice areas of Hosan Law Corporation, and we strongly believe that our excellence in these and other areas is of unique value to our clients. Our tax appeals and litigation practices have the specialist knowledge and skill required to address the toughest legal problems facing domestic and international corporations. Hosan professionals have strong knowledge of taxation and a wide range of experience resolving tax controversies. Our exceptional tax appeals and litigation team, having a strong grasp of tax litigation intricacies and formalities, has already made substantial achievements successfully representing clients in difficult cases involving complex cross-border transactions and requiring thorough analysis of tax laws. We have also seen in many previous cases the synergy effect that our strength in the tax practice creates in other practice areas. Tax issues and corporate transactions often go hand in hand and require simultaneous attention. With strong expertise in tax, professionals in Hosan deliver more integrated and holistic solutions for corporate clients in their M&A, employment, IP, and other commercial transactions.

Working with other Deloitte member firms, Hosan benefits from an established and efficient work system and a global network that other competitors cannot duplicate. Leveraging its cooperative relationships within a network of over 1,750 legal professionals in more than 75 countries, Hosan offers integrated legal services for multinational companies operating around the world. Through this cooperation, Hosan has a global presence unparalleled to those of other local competitors. In addition, we collaborate with other Deloitte member firm professionals, including consultants, accountants etc., to leverage their in-depth experience and understanding of sectors, industries, and markets. This interdisciplinary cooperation delivers unique value to clients, especially to those who need legal solutions requiring clear understanding of complex business transactions and in-depth analysis of business and industry.

Which practices in your member firm do you see growing in the next 12 months? What are the drivers behind that?

We expect steady and continuous growth of our practices in tax litigation and M&A in the next 12 months and thereafter. We have already built up solid credentials in these areas and strongly believe that this growth will continue. The main drivers behind our growth are increased awareness of our services, and a rise in demand for more prudent and attentive legal solutions in tax and M&A.

As corporate management and transactions become more and more complex and voluminous, companies now need more specialized legal advice on the more challenging tax law system to resolve tax issues that arise in almost every aspect of corporate management. Our attorneys have a strong foundation in tax and dispute resolutions as well as vast experience in cross-border M&As and investments. Effective teamwork between professionals with diverse backgrounds has led to many successful outcomes in difficult tax litigations, delivered by creative solutions . We are known in the market as a practice that is dedicated to developing practical tax solutions to complicated business problems.

Additionally, our M&A practice has continuously grown. We offer holistic legal services, providing multiple solutions including design of optimal deal structures, legal due diligence and advice on tax, antitrust, or employment issues. Our close cooperation with other Deloitte member firms and capabilities in tax have boosted awareness of our M&A services in the market. We are known for providing comprehensive and thorough M&A services.

What’s the main change that you’ve made in the firm that will benefit clients?

Since the beginning of our practice, Hosan has strived to establish an effective service system based on teamwork and collaboration with the Deloitte Legal network, to provide optimal legal solutions that respond to diverse situations in domestic and international transactions. We believe that our team approach really delivers the greatest value to our clients. Our clients come to us for our extensive experience and in-depth knowledge and expect intensive involvement of diverse professionals. Our flexible system incorporates service teams comprising the most suitable professionals, chosen carefully with specific client goals in mind. Our partners and professionals contribute where their specialism is needed. We collaborate closely with other Deloitte professionals to bring in their knowledge and experiences when necessary. This ensures each client gets the benefit of our firm’s collective knowledge in the most cost efficient way.

How is technology changing the way you interact with your clients and the services you can provide them?

Technology is an important factor affecting the way we interact with our clients. We have put a lot of effort into building technological foundations designed to manage client information more efficiently and safely, as well as to minimize conflicts of interest. Effective management of client information is essential to reduce the client’s legal costs and burdens. Establishing an integrated client document and information management system called “Mattersphere” was one of the changes that we made to manage and safeguard client information more efficiently. In addition, cooperating with Deloitte South Korea, we also set up an internal risk management system called “WinC System” protecting client’s private and confidential information and preventing potential conflicts of interest of clients with us or other clients.

Can you give a practical example of how you’ve helped a client add value to their business?

International investments or business expansions often require thorough analysis of potential legal issues before they actually arise in the course of implementations. Understanding the legal risks and taking preventive measures are critical from the very beginning stage of planning for the success of complex international transactions involving various stakeholders and multiple regulators. Based on our extensive experience in cross-border transactions and investments, we have provided legal advice assessing risks and suggesting solutions for many multinationals including a leading Korean construction company who faced difficulty in initiating its international construction projects due to the uncertainties under the Korean law regulating foreign investments. We helped the company to eliminate the uncertainty and complete its multiple international construction projects by presenting clear legal guidelines preventing potential legal problems that might have arisen under the Foreign Exchange Act of Korea.

Are clients looking for stability and strategic direction from their law firms – where do you see the firm in three years’ time?

Clients often look for strategic directions from their law firms to make progressive but more informed and provident business judgments. Strategic direction is highly appreciated in finance, construction, IT/telecommunication, or environment related industries where regulatory changes are frequent and the regulatory framework sets the playing field for businesses. Management teams in those industries want to be liberated from the burdens of antitrust, tax, or administrative regulations as well as the charge of defalcation. Leveraging our cooperative relationship with Deloitte South Korea, we have established a service system tracking and updating regulatory changes in various industries. Our professionals in antitrust, tax, and administrative regulations have regularly interacted with clients to provide them updates on regulatory changes and discuss measures to avert violations. In the next three years, we will strengthen the strategic direction services in finance, construction, IT/telecommunication, and environment related industries by recruiting more professionals with specialized industry knowledge.

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