SOUTH KOREA Trends and Developments
Trends and Developments Contributed by: Dong Shin Lee, Wankyu Jeon, Irene Y. Kim and Young Woong Park Yoon & Yang LLC
Yoon & Yang LLC Tax Practice Group consists of leading experts across multiple disciplines, including attorneys, certified public accounts, tax accountants and customs agents, who combine theoretical knowledge with practi - cal application. In a rapidly changing socio- economic environment, the Group offers pro - active tax strategies and countermeasures to minimise risk and optimise tax benefits across a broad spectrum of client economic activi - ties, such as M&A, corporate restructuring, fi - nancial transactions, investment and develop - ment projects, international transactions, family
succession, inheritance and gifts. Beyond tax planning, the Group’s services extend to com - prehensive post-taxation support, including legal reviews, representation in administrative litigation against tax imposition, defence in tax- related criminal cases, and constitutional chal - lenges to tax legislation. Notably, its expertise in international taxation includes tax planning and transfer pricing advice both for overseas expan - sion of domestic companies and for domestic expansion of foreign companies, spearheaded by the Group’s international tax accountants and foreign attorneys.
Authors
Dong Shin Lee is a distinguished former tax official and renowned practitioner in the Korean tax field, having served in various positions, including Director General for the Property
Wankyu Jeon is a partner at Yoon & Yang and is the head of the Tax Practice Group. Ranked as a Chambers leading lawyer in tax since 2022, Wankyu focuses on international taxation,
Taxation Bureau of the National Tax Service (NTS) and Commissioner of NTS Daejeon and Busan Regional Office. During his 28-year tenure in public service, Dong Shin gained in-depth expertise in tax laws and accumulated practical experiences, notably tax audits, international investigations and property taxation (including inheritance and gift taxes). Dong Shin joined Yoon & Yang in 2023 as a senior adviser, dedicating his expertise to tax advisory services.
corporate tax, income tax, value-added tax, transfer pricing, and other related tax advice and tax disputes. Wankyu has accumulated a successful track record in tax litigation, and his clients include major multinational companies and Korean conglomerates such as Hyundai E&C, Daewoo E&C and Rolex Korea. Wankyu Jeon has been recognised as a Chambers leading lawyer since 2022. He works as the director of the International Fiscal Association (IFA) Korea.
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