Wankyu Jeon

Practice Areas

Tax

Tax Advisory ∙ Tax Strategy

Pre-Audit Diagnosis ∙ Tax Audit

Tax Trial & Authoritative Interpretation

Tax Litigation

International Taxation ∙ Transfer Pricing

Tax Compliance ∙ Outsourcing

Customs ∙ International Trade

Transfer Pricing ∙ Strategies

Career

Wankyu Jeon is a partner at Yoon & Yang LLC, and his main practice areas include international taxation (including TP Study and BEPS Reporting), corporate tax, income tax, value-added tax, local tax, and other related tax advice and tax disputes.

Mr. Jeon also advises on and litigates general administrative cases related to administrative regulations such as permits and licenses.

After completing the 31st Class of the Judicial Training & Research Institute, he majored in accounting at Korea University Graduate School of Business. Thereafter, he obtained his LL.M. from the Southern Methodist University School of Law. He is also a certified tax accountant.

Professional Memberships

Admitted to bar, Korea (2002)

Tax accountant, Korea (2008)

Publications

Tax on corporate lending and bond issues in South Korea: overview (co-author) - Practical Law Company (PLC) multi-jurisdictional Guide (2013)

“Framework Act on National Taxes” (section on Penalty Tax), LAWnB Online Commentary (co-author), 2014

New Approach to Requirements for Imposition of Pentalty Tax on Underreporting, Tax Practice Study I (2015)

Review of the Transactional Net Margin Method as the Method for Calculating Arm’s Length Price, Tax Practice Study II (2017)

Commentaries of Supreme Court Decisions and Determination Criteria on the Proportional Calculation of Value-Added Tax, The Law Times (2017)

Work Highlights

Advised LMS regarding the establishment of the transfer pricing policy for both domestic and overseas related party transactions

Advised New Tree Biotech (Cosmax NBT) regarding the establishment of the transfer pricing policy and preparation of BEPS documentation

Advised Cosmax and Cosmax BTI regarding the establishment of the transfer pricing policy for both domestic and overseas-related party transactions and preparation of BEPS documentation

Advised Longchamp Korea regarding the establishment of the transfer pricing policy for overseas-related party transactions

Advised Shinhan Bank regarding the criteria on financial information exchange between the National Tax Service (NTS) of Korea and foreign tax authorities

Advised the Ministry of Trade, Industry & Energy and Ulsan Development Institute regarding the Special Act on the Designation and Operation of Special Oil Hub (tentative)

Advised the Korea Alcohol & Liquor Industry Association regarding the reform of the liquor taxation scheme

Handled the tax investigation and correction claim for Avellino

Handled the litigation seeking revocation of the disposition of income amount change notice for Sweeteners Holdings Korea

Handled the litigation seeking affirmation of nullification of the VAT imposition against the Republic of Korea by Hyundai Development Co.

Handled the litigation seeking affirmation of nullification of corporate tax (withholding) collection for KT

Handled the litigation seeking affirmation of corporate tax collection for Haitai Confectionery Co., Ltd.

Handled litigation cases seeking revocation of acquisition tax, etc. for KOFIA and 21 asset managers

Handled the litigation seeking revocation of disposition of acquisition tax, etc. for the Cooperative for Urban Environment Refurbishment of District No. 3 Near Kukje Building

Handled the litigation on unjust enrichment (affirmation of nullification of property tax disposition) for Incheon Port Authority

Languages Spoken

Korean and English

Experience

2005-present: Yoon & Yang LLC

2023-present: Non-executive Director, i-SMR Technology Development Project Group

2019-present: Advisor, Center for Statutory Interpretation, Korea Institute of Local Finance

2019-present: Director, International Fiscal Association Korea

2018-present: Member, Tax System Committee, Korean Bar Association

2017-present: Advisor, Law Times; Member, Korea Tax Law Association

2017: Interviewer, Korea University School of Law

2007: Tax Research Institute, Seoul Bar Association

2002-05: Public Service Advocate

Clients

Samsung Life Insurance, Korean Air, t’way Air, JEJUair, POSCO INTERNATIONAL, DAEWOO E&C, Doosan Enerbility, Hyundai E&C, DL E&C, Korea Zinc, Rolex Korea Limited, Oriental Brewery Company, Hyundai G.F. Holdings

Education

Awards