Leading Associates

Tax: local firms in South Korea

Kim & Chang

Kim & Chang offers a comprehensive suite of tax services, including tax planning, M&A, transfer pricing, litigation, and international tax dispute resolution, alongside general advice on all Korean tax issues from inception to exit. Boasting the largest tax team in Korea and the largest transfer pricing and customs practice, the firm is uniquely positioned to navigate complex tax matters. The team is supported by former high-ranking officials from government bodies such as the National Tax Service, Tax Tribunals, and the Ministry of Economy and Finance, offering clients deep insights into governmental processes. Co-heads Woo Hyun Baik and Jisoo Lee bring extensive expertise in corporate tax issues and tax disputes, respectively. Key figures such as Tae Yeon Nam, Sang Woo Lee, and Byung Moon Jung further enhance the firm’s capabilities in transfer pricing, international tax, and litigation.

Praxisleiter:

Woo Hyun Baik; Jisoo Lee


Weitere Kernanwälte:

Tae Yeon Nam; Sang Woo Lee; Byung Moon Jung; Im Jung Choi; Sung Gweon Cho; Jeong Il Park; Yoon Sang Sim; Chanyeon Hwang; Heechul Kim


Referenzen

‘Full-fledged law firm with a wide range of experts who, as a team, can cover all corners of tax matters clients face. No real competitors in Korea with a comparative breadth of services.’

‘Very good relationships with key stakeholders, including governmental agencies.’

‘Provides helpful strategical advice on complex matters.’

Kernmandanten

Goldman Sachs


LG Electronics Inc.


Citibank


CJ


Morgan Stanley


Hyundai Motor Company


Samsung Electronics Co., Ltd.


Oracle Korea


SK Hynix


National Oilwell Varco


Highlight-Mandate


  • Advised Hahn & Company on the tax of its acquisition of Lutronic Korea through the acquisition of controlling shares, tender offer and comprehensive share swap.
  • Advised BlueCove Investment in its acquisition of Seoul Miramar, which owns the Grand Hyatt Hotel Seoul.

Lee & Ko

The tax team at Lee & Ko is renowned for its experienced team, which includes former judges, seasoned Korean and international attorneys, tax-focused CPAs, and former high-ranking government tax officials. As a full-service firm, it excels in tax litigation and appeals, offering a comprehensive range of tax services, including general and international tax consulting, and tax audit defence. Its large audit defence team is particularly adept at managing complex tax disputes. With strengths in cross-border tax issues, M&A, and transactional tax, the team is co-led by Ok Hyun Ma, a former Supreme Court tax research judge, and Tom Kwon, who advises on international tax and tax aspects of M&A transactions. Key practitioners include Sung Hwan Kim, Sung Hyun Ryu, and Byeong Jun Son, all highly regarded for their litigation and tax expertise.

Praxisleiter:

Ok Hyun Ma; Tom Kwon


Weitere Kernanwälte:

Sung Hwan Kim; Kyung Tae Kim; Young Uk Park; Byeong Jun Son; Jay Shim; Steve Oh


Referenzen

‘I found the Lee & Ko team to be very user-friendly, producing clear and timely advice and with an excellent knowledge of the market.’

‘Tom Kwon was excellent. He was very responsive and clear in his advice.’

‘Lee & Ko’s team organises a litigation team in a highly effective way, fully leveraging the strengths of the team. The team had a clear understanding of the key issues in the litigation, guided the company to collect valid data and evidence, and prepared highly persuasive answers and briefs based on that evidence. Additionally, they demonstrated excellent advocacy skills by presenting the briefs and responses in a very logical and convincing manner in court.’

Kernmandanten

Daishin Securities Company and other 11 Securities Companies


Brain Asset Management


Korea Land & Housing Corporation


Universal Display Corporation and its Korean subsidiary


POSCO Holdings Inc. and POSCO International Corporation


Seoul Beltway Corp.


Lotte Shopping Co., Ltd.


SK Telecom Co., Ltd.


Highlight-Mandate


  • Successfully represented Korean Land & Housing Corporation in a tax litigation case worth USD 496 million, leading to a favourable Supreme Court ruling.
  • Defended POSCO Holdings Inc. and POSCO International Corporation against a USD 145 million additional tax assessment related to merger consideration, successfully convincing the Tax Facts Advisory Committee to cancel the tax assessment.
  • Represented SK Telecom Co., Ltd., a leading telecommunication operator, in tax litigation defending the determination of an arm’s length price utilised in a significant spin-off.

Yulchon

The tax team at Yulchon handles a wide range of tax work, with particular strength in tax litigation. Recently, the team has been active in its tax consulting practice and assisting large multinational corporations in defending against comprehensive Korean tax audits. The team is led by Dong Soo Kim, a seasoned professional with over twenty years of experience and a background as a judge. Yun Heui Cho, who heads the tax dispute practice, focuses on tax litigation and consulting. Co-head of the international tax practice, Yong Whan Choi, advises multinational corporations, particularly in the ICT and semiconductor industries, on issues such as transfer pricing and restructuring. Key members include Min Young Sung, Kyu Dong Kim, and Tae Hyoung Kim, who specialise in international tax, cross-border transactions, and transfer pricing, respectively.

Praxisleiter:

Dong Soo Kim


Weitere Kernanwälte:

Yun Heui Cho; Yong Whan Choi; Min Young Sung; Kyu Dong Kim; Tae Hyoung Kim; Won Gyo Han


Referenzen

‘The team is well versed in tax laws and regulations, real-time government policies and ideas, characteristics and habits of government officials, and understands how to meet the needs of customers.’

‘Other law firms and accounting firms try to coordinate government tax authorities with client companies, so it may be difficult to meet the needs of client companies completely. However, the team negotiates and resolves successfully, prioritising meeting the needs of the client company. It produces good results not only because of its expertise, but also because it has a deep understanding of government tax authorities and client companies and has reliability and flexibility.’

‘Yulchon has top-tier tax knowledge in Korea, the best quality of tax opinion, and excellent collaboration with lawyers, CPAs and ex-tax officers from tax authorities. They are also very well contactable and have a lot of knowledge of the industry.’

Kernmandanten

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


SQM (Sociedad Química y Minera de Chile)


Highlight-Mandate


  • Successfully represented Hewlett-Packard in tax litigation challenging withholding tax rate on dividends based on beneficial ownership and subsequently represented them in tax audit.
  • Advised Mastern Asset Management and KB Asset Management in relation to the acquisition of a majority interest in a Luxembourg joint venture company through a Korean real estate fund.
  • Successfully represented Prada Korea in a tax audit involving various transfer pricing issues.

Bae, Kim & Lee LLC

Bae, Kim & Lee LLC’s tax practice offers a comprehensive range of tax services, with particular strength in tax disputes and transfer pricing. The team excels in tax appeals and works closely with other key departments, including white-collar criminal defence and international trade/customs. Led by Mooyoun Cho, the practice is supported by seasoned practitioner including Il Young Cho, who has a wealth of experience as a judge specialising in tax matters, and Seog Kyoo Kang, who brings expertise in civil and criminal litigation. Senior foreign attorney Maria Chang advises international clients on tax planning, treaty interpretation, and cross-border transactions.

Praxisleiter:

Mooyoun Cho


Weitere Kernanwälte:

Il Young Cho; Seog Kyoo Kang; Maria Chang


Referenzen

‘I believe that BKL’s greatest strength is its active communication with clients. I work with other law firms in Korea as well, but BKL is overwhelmingly dedicated to communication more than any other firm. They grasp the issues of the case and present their opinions clearly and specifically while also listening to the client’s opinions and providing prompt feedback.’

‘Mooyoun Cho is excellent at planning litigation strategies and responding to feedback from the court.’

‘BKL’s tax team understands the fundamental issue for clients and has a good capability to navigate for effective and practical solutions in the complicated tax environment. They also proactively consult clients to make positive changes in mid-long term changes for business.’

Kernmandanten

ABB AS


Ardian Investment


Asiana Airlines, INC.


BLUE RUN VENTURES


Brockwell Capital Limited


DB Savings Bank Co. Ltd.


KOHLBERG KRAVIS ROBERTS & CO.


Korea Exchange


Korea Railroad Corporation


Meritz Securities


Highlight-Mandate


  • Advised Head of Samseong Tax Office, Korea in determining i) whether the consideration that Oracle’s Korean entity paid for the introduction of software should count as royalty income or business income and ii) whether the beneficial owner of the income is the Irish entity or the US parent entity.
  • Represented Korea Railroad Corporation in a lawsuit seeking revocation of a disposition by the tax authorities to deny the client’s request for tax correction on the grounds that employee benefits credits fall under the category of ‘earned income’.
  • Represented ABB AS in a tax litigation case involving cancellation of value-added tax imposition of the Korean branch of ABB AS.

Shin & Kim

Shin & Kim’s tax practice offers a comprehensive range of services, including tax controversy, consulting, and international tax advisory. Key areas of focus include gift and inheritance tax, local tax issues, and inbound/outbound investment structuring. The gift and inheritance tax team specialises in cross-border issues involving foreign clients and properties, while the international tax group includes a transfer pricing team. The practice is led by Je Heum Baik, who brings extensive experience in tax litigation, advisory, and investigations for financial institutions and multinational firms. Hyeon-Jin Kim leads the tax advisory and investigation team, while Jinkyu Yoon handles tax law, customs, and international tax matters. Senior CPA Young-Min Chung focuses on tax audit and litigation defence, with Jung Yeol Lee who joined from Yoon & Yang LLC in May 2024, excelling in customs appeals and consulting for major clients.

Praxisleiter:

Je-Heum Baik


Weitere Kernanwälte:

Hyeon Jin Kim; Jinkyu Yoon; Young Min Chung; Jung Yeol Lee


Referenzen

‘The team understand the character of our business sector, and this is very helpful in solving tax problems.’

‘Shin & Kim is a team that has the ability to accurately understand the needs of customers through pre-meetings on the parts requested by our company and to quickly and easily find the members, professional knowledge and solutions for the issues. It is a good thing to offer the service within the requested schedule.’

‘The company to which I belong has many legal issues which arise while managing M&A and domestic and foreign affiliates. In particular, government agencies, including the National Tax Service of Korea, are very aggressive, so we are concerned about whether we can minimise legal risks in advance while making transactions and need legal advice in the process. There are several big law firms in Korea, but I think Shin & Kim provides the most efficient and effective comprehensive legal services.’

Kernmandanten

Oracle Korea


GE Capital


IGIS Asset Management


LaSalle Investment Management


Kendall Square Asset Management


Subway International B.V.


AIG


Samsung Biologics


Samsung Card


Samsung Heavy Industry


SK E&S


Hanwha Solution


Woori Bank


HD Hyundai Oilbank


HD Korea Shipbuilding & Offshore Engineering


SD Biosensor


KCC Corporation


Kangwon Land


KT&G Corporation


Highlight-Mandate


  • Representing Oracle on a major tax litigation in the IT industry which will impact and potentially trigger other companies to follow suit when the final decision is rendered.
  • Represented GE Capital Group with respect to the Korean tax issues in their global restructuring and won a favourable ruling for the client.
  • Representing Shin Hwa World Limited in a tax litigation, which contains an international tax issue that is the first of its kind (indirect transfer taxation).

DR & AJU LLC

DR & AJU LLC‘s tax practice group offers a comprehensive range of services covering local, national, and international tax, as well as customs. The team supports clients through all stages, from responding to tax investigations to handling criminal cases and tax litigation. Kyu Chul Lee, head of the tax practice group, brings valuable experience from his previous experience in the Korean judiciary, handling numerous tax litigation and advisory cases. Shin Hee Kim, head of the tax team, is renowned for leading significant corporate tax, inheritance, and gift tax litigation cases.

Praxisleiter:

Kyu Chul Lee; Shin Hee Kim


Weitere Kernanwälte:

Sang Yeon Cho; In Wook Hwang


Kernmandanten

Head of Yeongdeungpo District Tax Office


KIC I&M


Highlight-Mandate


  • 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 the head of tax authority in a case where the client imposed VAT on the interest income that KB Financial Group Inc. received from its subsidiary.
  • Represented an individual in a case where the tax authority imposed the tax two weeks before the expiration of the imposition limitation period whereas the client already transferred real estate in 2013 and reported and paid transfer income tax that same year.

Yoon & Yang LLC

Yoon & Yang LLC‘s tax team provides comprehensive expertise across diverse and complex tax issues, including tax compliance, audits, general advisory, international taxation, and tax litigation. The firm’s clients range from high-net-worth individuals and government entities to SMEs, multinational companies, and major Korean conglomerates, addressing both domestic and international tax matters. Led by Jae Woong Jeong, the team focuses on tax disputes and advisory work covering corporate tax, VAT, income, and inheritance tax. Key practitioners include Seung Soon Lim, Wankyu Jeon, and Yong Taek Kim, all of whom bring deep expertise in litigation and advisory services.

Praxisleiter:

Jae Woong Jeong


Weitere Kernanwälte:

Seung Soon Lim; Wankyu Jeon; Yong Taek Kim


Referenzen

‘We received exceptional assistance from the experts at Yoon & Yang’s Tax Group regarding the complex legal interpretation of the zero rate of value-added tax. The team’s lawyers, accountants, tax accountants, and consultants excelled in their respective roles to provide top-notch service. Professionals with experience in organisations such as the National Tax Service effectively shared their expertise and insights.’

‘In a case where everyone said they would lose, they led the case to victory with their own logic and expertise.’

‘Through collaboration between attorneys with specialised tax knowledge, Yoon & Yang identifies our company’s risks in advance, discusses them with us, and suggests alternatives, enabling us to accurately recognise and respond to our company’s situation when undergoing a tax audit.’

Kernmandanten

Rolex Korea Limited


DAEWOO ENGINEERING & CONSTRUCTION CO., LTD


SDN Company Ltd.


CS Wind Corporation


Alton Co.,Ltd.


LOTTE SHOPPING CO. LTD


DAEBO INDUSTRIAL CO.LTD


Korea Real Estate Investment&Trust(KOREIT) Co.,Ltd


CTR Co.,Ltd


Seoul Integrated Freight Terminal PFV Co.,Ltd.


OLYMPUS KOREA


Korea Railroad Corp.


HOBAN CONSTRUCTION CO., LTD


AccessBio Korea


Highlight-Mandate


  • Recalculated the foreign tax credits for Daewoo Engineering & Construction, and filed for a refund.
  • Advised CS Wind’s U.S. subsidiaries, including CS Wind America Inc., on eligibility for the U.S. Inflation Reduction Act’s Section 45X tax credit for producing wind towers. Collaborating with a U.S. law firm, Yoon & Yang provided guidance amid growing interest from Korean companies in accessing clean energy tax benefits.