Rising Stars

Tax: local firms in South Korea

Kim & Chang

Kim & Chang’s market leading team has ‘very strong knowledge and expertise across the full range of tax and customs matters’, with unparalleled experience in both transactions and litigation. Jointly led by Woo Hyun Baik and Byung-Moon Jung, the team advises on international corporate tax planning, M&A, financial derivatives, and contract negotiations. Certified public accountant Tae-Yeon Nam focuses on international taxation, in addition to representing clients in tax audits and disputes, while Hae Ma Joong Kim advises on contentious mergers and shareholder issues. Former judge Sang Woo Lee regularly represents clients before the National Tax Tribunal.

Practice head(s):

Woo Hyun Baik; Byung-Moon Jung


Other key lawyers:

Tae-Yeon Nam; Hae Ma Joong Kim; Sang Woo Lee


Testimonials

‘The team at Kim & Chang has very strong knowledge and expertise across the full range of tax and customs matters. Top-notch talent.’

‘The team has excellent problem-solving skills.’

‘K&C is the premier law firm. K&C is able provide guidance related to tax issues that are unique to our industry.’

‘The team and Kim & Chang have an exceptional depth and breadth of expertise.’

Key clients

Goldman Sachs


LG Electronics Inc.


Citibank


CJ


Morgan Stanley


Hyundai Motor Company


Samsung Electronics Co., Ltd.


Oracle Korea


SK Hynix


National Oilwell Varco


Work highlights


  • Advised Ford Motor Company on tax structuring of $13.2 billion joint venture with SK Innovation.
  • Advised Hahn & Company in its sale of Hahn & Co. Cement Holdings, the largest shareholder of Ssangyong C&E, through a first-ever continuation fund established in Korea.

Lee & Ko

With demonstrable expertise in contentious tax appeals and litigation, Lee & Ko’s market leading team represents major Korean retailers and companies, providing the full range of advisory and consulting service, and handling inbound and outbound investments and transactions. Ok Hyun Ma leads the team alongside Tom Kwon, with the latter advising on international tax planning, domestic and cross-border acquisition structuring, and a wide range of cross-border transactions. Litigation and disputes specialist Byeong Jun Son handles corporate income tax and value-added tax matters, while esteemed litigator Sung Hyun Ryu regularly presents cases to national tax appeal tribunals. Kyung Tae Kim is also recommended.

Practice head(s):

Ok Hyun Ma; Tom Kwon


Other key lawyers:

Byeong Jun Son; Sung Hyun Ryu; Kyung Tae Kim


Testimonials

‘Lee & Ko have superior market leading abilities.’ 

‘Kyung Tae Kim has deep tax expertise and provides excellent customer service skill.’

‘The team is very professional in their field.’

Key clients

LG Household & Health Care


Korea Land & Housing Corporation


Korea Racing Authority


Intergraph Korea


Lotte Shopping Co. Ltd., Lotte Hi-Mart, Lotte Datviet Home Shopping Co., Ltd., AK Plaza Department Store


Saint Gobain Korea


Korea Ocean Business Corporation


OK Savings Bank and six other savings banks


Daishin Securities Company and other 11 Securities Companies


IGIS Asset Management


RPX Corporation


Hotel Lotte Co., Ltd. and 7 other companies engaged in duty free business


Hanwha Resort


Work highlights


  • Representing Korea Land & Housing Corporation on appeal for refund of corporate income tax and VAT in the amount of USD 500 million.
  • Representing RPX Corporation, a defensive patent aggregation service provider, for refund of USD 40 million in withholding taxes in relation to membership agreements and patent contribution agreements with Samsung Electronics, LG Electronics and SK Hynix.
  • Represented Intergraph Korea in appeal regarding the appropriate tax characterisation of consideration for use of industrial software.

Yulchon

Yulchon’s team regularly advises major Korean and multinational clients in high-stakes tax disputes and litigation. Managing partner Seok Hoon Kang and Dong Soo Kim jointly lead the practice, and Kyu Dong Kim focuses on international tax matters, in addition to the tax elements of cross-border M&As. In a stand out case, Yun Heui Cho and Ki Seon Shin led a team which represented Samsung SDS on the largest royalty withholding tax case in Korean history, seeking the appeal of a corporate tax assessment of $114m. On the advisory side of the practice, US certified accountant Tae Hyoung Kim advises on tax due diligence and risk assessments, while providing support on tax audits and appeals.

Practice head(s):

Seok Hoon Kang; Dong Soo Kim


Other key lawyers:

Yun Heui Cho; Ki Seon Shin; Tae Hyoung Kim


Testimonials

‘Yulchon’s tax team boasts deep professional knowledge and collaboration with other practice areas, always achieving great results.’ 

Key clients

Amazon


Google


Microsoft


Qualcomm


Corning


Cadence Design Systems


Koch Industry Group


PTC


Airbnb


Netflix


Agoda


Shutterstock


Bank of America Merrill Lynch


Goldman Sachs


TPG capital


Macquarie


Morgan Stanley


L’Oréal International


UPS


Meritz Alternative Investment Management


Hyundai Asset Management


Mirae Asset Global Investments


Coupang


British American Tobacco


Samsung Electronics


SK Hynix


LG Energy Solutions


Lotte Group


IGIS Asset Management


KTB Investment & Securities


Prudential


Kayak (Hotels Combined)


Société Générale


JP Morgan Chase Bank


Mastern Investment Management


ARA Korea Asset Management


Trescal


Agilent


Certa Insurance Partners


Work highlights


  • Successfully represented Samsung SDS in a lawsuit seeking cancellation of a KRW 149 billion corporate income tax assessment.
  • Successfully represented Renesas Electronics in a Tax Tribunal appeal and re-audit of a transfer pricing related tax assessment and obtained a 90% tax refund.
  • Assisted Japan Korea Joint Smelting Co., Ltd. in tax efficient restructuring of a USD 800 million JV.

Bae, Kim & Lee LLC

With demonstrable experience in tax tribunal appeals and litigation, Bae, Kim & Lee LLC’s team handles tax and legislative advisory work, particularly on overseas alternative investments. Dong Hyun Kim heads the practice and former judge Il Young Cho boasts considerable experience in tax-related administrative and criminal litigation. Senior foreign attorney Maria Chang advises foreign clients across structuring, tax planning, and cross-border transactions, and Seog Kyoo Kang is another key contact in the group.

Practice head(s):

Dong Hyun Kim


Other key lawyers:

Il Young Cho; Maria Chang; Seog Kyoo Kang


Testimonials

‘The BKL tax team was very effective and efficient. They grasped our case very quickly and approached the authorities and decision makers with diagrams.’

Key clients

ABB AS


Ardian


Celltrion


Hyundai Mobis


Industrial Bank of Korea


KB Kookmin Bank


KEB Hana Bank


Korea Exchange


SK hynix


Standard Chartered


Work highlights


  • Represented about 10 large domestic companies (Samsung, Hyundai, LG, GS, Hanwha affiliates) in their disputes over the converted tax method of local income tax and resulting economic losses.
  • Represented Celltrion Pharm in a lawsuit filed against the tax authority to cancel the corporate tax in regard to the merger with Hanseo Pharm.
  • Represented ABB AS in a tax litigation concerning the cancellation of value-added tax on the part of the service provided to the Korean shipyard by ABB AS dispatching engineers to a place of business in Korea.

Shin & Kim

Shin & Kim’s ‘highly reputable’ full-service tax practice has ‘extensive international experience’, advising on a wide range of tax consulting mandates, cross-border transactions, and business planning and modelling strategies. Team head Je Heum Baik is highly experienced in contentious tax work, handling corporate tax litigation and tribunals for major domestic and international financial clients. Hyeon-Jin Kim leads the advisory and investigatory side of the practice, while international tax attorney Sun Young (Sunny) Kim handles financial and strategic, and inbound and outbound transactions for major international clients.

Practice head(s):

Je-Heum Baik


Other key lawyers:

Hyeon-Jin Kim; Sun Young (Sunny) Kim


Testimonials

‘Shin & Kim LLC is a highly reputable law firm that possesses expertise and experienced professionals in legal and business matters, such as taxation and corporate accounting.’ 

‘Hyeon-Jin Kim is a trustworthy legal professional, with expertise spanning law, fair trade practices, capital market regulations, and tax and accounting.’

‘Shin & Kim’s attorneys possess a global perspective, with extensive international experience and education. Secondly, they demonstrate a remarkable ability to adapt swiftly to the evolving business landscape and actively deliver the most modern and efficient solutions to clients.’

‘The attorneys at Shin & Kim bring unique expertise and a global perspective, delivering exceptional results and displaying excellent collaboration and customer-centric attitudes.’

‘Hyeon-Jin Kim instils confidence in clients through this profound expertise and clear communication. His outstanding capabilities and team-oriented approach significantly contribute to Shin & Kim’s success.’ 

‘The team members possess a high level of expertise in tax laws and regulations, enabling them to provide accurate and comprehensive services to us. This expertise and experience instils confidence in us, as we receive trustworthy advice and tailored tax optimisation strategies.’

‘Hyeon-Jin Kim instils confidence in clients through his profound expertise and clear communication. His outstanding capabilities and team-oriented approach significantly contribute to Shin & Kim’s success.’

‘The practice stands out for its unique combination of specialised expertise, customer-centricity, and innovative approaches.’

Key clients

Samsung Biologics


Oracle Korea


SD Biosensor


Kyobo Life Insurance


Chubb Limited


KCC Corporation


GE Capital


Landing Entertainment Korea


AIG


Woori Bank


KT&G Corporation


IGIS Asset Management


LaSalle Investment Management


SK E&S


Kendall Square Asset Management


Paju Energy Service


Kangwon Land


InvestigationSubway International B.V.


Joongang Holdings


SK Energy


DR & AJU LLC

The tax practice at DR & AJU LLC handles local, international and customs tax matters, with additional experience in criminal investigations and litigation. Former judge Kyu Chul Lee leads the team, which recently expanded with the arrival of Sung Hee Han in January 2023, former commissioner of the National Tax Service. Shin Hee Kim specialises in corporate, inheritance, and gift tax litigation, and Heon Goo Kang is another key contact in the group.

Practice head(s):

Kyu Chul Lee


Other key lawyers:

Sung Hee Han; Shin Hee Kim; Heon Goo Kang


Key clients

Ki Jin Jeong


Head of Yeongdeungpo District Tax Office


Head of Mapo District Tax Office


Work highlights


  • Represented a group of individuals and corporations who paid the comprehensive real estate tax in a class action seeking the revocation of the imposition of comprehensive real estate tax by claiming the unconstitutionality of the Comprehensive Real Estate Holding Tax Act.
  • Represented an individual in a case where the tax authority imposed the tax two weeks before the expiration of the imposition limitation period whereas Client already transferred real estate in 2013 and reported and paid transfer income tax that same year.
  • Represented the head of tax authority in a case where client imposed VAT on the interest income that KB Financial Group Inc. received from its subsidiary.

Yoon & Yang LLC

Yoon & Yang LLC’s tax practice handles a broad range of matters, including compliance, audits and international taxation, in addition to litigation and disputes. Experienced litigator Jae Woong Jeong leads the team and Wankyu Jeon litigates general administrative matters. Jung Yeol Lee’s practice focuses on customs disputes and advisory work, while associate Young Woong Park focuses on cross-border M&A, and overseas tax planning and strategy mandates.

Practice head(s):

Jae Woong Jeong


Other key lawyers:

Wankyu Jeon; Jung Yeol Lee; Young Woong Park


Key clients

Hyundai Motors Company Group


Hyundai Motors Company


Hyundai Rotem Company


POSCO Holdings


Samsung Life Insurance


Rolex Korea Limited


Korea Railroad


Korea Real Estate Investment & Trust


Hydis Technologies Co., Ltd.


Hanhwa Solution Corp


Work highlights


  • Advised the plaintiff in a USD 1.4 million tax (administrative) litigation case to set aside a disposition imposing corporate tax on transfer pricing transactions.