Tax
Asia-Pacific Guide 2024 : South Korea
Band 3
About
Provided by Yoon & Yang LLC
Yoon & Yang’s Tax Practice Group is comprised of more than 50 expert professionals (attorneys, CPAs, CTAs, customs attorneys, and advisers) to provide the highest quality comprehensive legal services for all areas of diverse and complex tax issues including tax compliance, general tax advice, tax audit, international taxation, and tax litigation and disputes. The Group’s clients vary from wealthy individuals for gift and inheritance tax matters, and government sectors for tax policy and administration matters through SMEs, multinational companies and large conglomerates of Korea for various domestic and international tax issues. The Group covers all industry areas, and the Group’s proven track records include the automotive and parts, electronics and parts, steel, infrastructure, real estate, energy, chemical and petrochemical, pharmaceuticals and life sciences, consumer goods, food and beverages, software, apparel, cosmetics, fibre, cryptocurrency, banking and finance, aviation and shipping, and media and entertainment.
Chambers Review
Yoon & Yang is a well-respected law firm in South Korea, advising leading domestic and inbound clients on the full range of contentious, non-contentious and regulatory taxation issues. It is especially noted for its handling of tax litigation, as well as possessing significant expertise in transfer pricing issues, VAT, customs duty, inheritance tax and audits. The team represents clients from a wide range of sectors, including real estate, energy, insurance, retail and finance. Its key clients include Hyundai Rotem Company, KOREIT, and Samsung Life Insurance.
Work Highlights
- Yoon & Yang represented Hydis Technologies in a lawsuit involving return of unjust enrichment claims filed by its dismissed employees. The client paid KRW25 billion in settlement to dismissed employees in the dispute resolution process and deducted withholding tax of approximately KRW5.5 billion from the amount on the grounds that the settlement constituted 'other income' under the Income Tax Act. The court of first instance and appellate ruled that the withholding was legitimate.
Notable Practitioners
Lim Seung Soon has particular expertise in tax litigation involving cancellations. He advises Korean and foreign entities.
Jeon Wankyu is a partner in Seoul with broad tax expertise, including litigation, transfer pricing and tax issues relating to corporate restructuring. He advises entities in various industries including technology, retail and luxury goods.
Ranked Lawyers at
Yoon & Yang LLC
South Korea
Members
Provided by Yoon & Yang LLC
Irene Y. Kim
Jae Woong Jeong
Head of Department
Jeongsu Park
Jin Seok Lee
Jong Hwa Jung
Kyungjin Lee
Oh-Young Jeon
Yong Taek Kim
Clients
Provided by Yoon & Yang LLC
Hanhwa Solution Corp
Hydis Technologies Co., Ltd.
Hyundai Motors Company
Hyundai Motors Company Group
Hyundai Rotem Company
Korea Railroad
Korea Real Estate Investment & Trust
POSCO Holdings
Rolex Korea Limited
Samsung Life Insurance