Wankyu Jeon

Practice Areas

Tax

Tax Advisory ∙ Tax Strategy

Pre-Audit Diagnosis ∙ Tax Audit

Tax Trial

Tax Litigation

International Taxation ∙ Transfer Pricing

Tax Compliance ∙ Outsourcing

Customs ∙ International Trade

Transfer Pricing

Wealth Management Center

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

South Korea: Trend and Developments, Tax Controversy, Chambers Global Practice Guides, Chambers and Partners (Co-author, 2024)

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 on correction of taxes payable overseas for Hyundai E&C, Daewoo E&C, Samsung Engineering, DL E&C, and POSCO International

Represented Rolex Korea and handled the litigation seeking revocation of disposition imposing corporate tax on transfer price (prevailed) and handled the customs audit

Represented Korea Zinc and established the Transfer Pricing Policy for both domestic and overseas related party transactions and prepared BEPS documents

Represented LMS and established the Transfer Pricing Policy for both domestic and overseas related party transactions

Represented COSMAX NBT and established the Transfer Pricing Policy and prepared BEPS documents

Represented COSMAX and COSMAX BTI and established the Transfer Pricing Policy for both domestic and overseas related party transactions and prepared BEPS documents

Represented Hyundai Development Company (HDC) and prevailed in the litigation seeking invalidation of disposition imposing value-added tax on installment payments

Represented KT and prevailed in the litigation seeking affirmation of invalidation of disposition collecting corporate tax (withholding)

Represented Haitai Confectionery & Foods and prevailed in the litigation seeking affirmation of invalidation of disposition collecting corporate tax

Represented Incheon Port Authority and prevailed in the litigation pertaining to unjust enrichment (related to affirmation of invalidation of disposition imposing property tax)

Advised Shinhan Bank regarding the criteria for exchange of financial information between Korea’s National Tax Service and a foreign tax authority

Advised on drafting a special law on designation and operation of oil hub special zone (tentative) for the Ministry of Trade, Industry and Energy and Ulsan Development Institute

Advised the Korea Liquor Industry Association on measures to reshape the liquor taxation scheme

Represented the Korea Financial Investment Association and 21 asset management companies (i.e., ISIS Asset Management) in the litigation seeking revocation of disposition imposing acquisition tax (prevailed)

Represented the Association for Urban Environment Improvement Near the Kukje building District 3 Zone

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 Case Commentator, 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

Education

Awards