YOON&YANG
Wankyu Jeon Partner
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  • TEL 82 2 6003 7121
  • FAX 82 2 6003 7032
  • E-MAIL
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.

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

Education

  • 2016 University of Seoul, Graduate School of Tax (Tax Strategy Coursework completed)
  • 2011 Southern Methodist University School of Law, LL.M.
  • 2005 Korea University Graduate School of Business, MBA
  • 2002 Judicial Training & Research Institute
  • 1996 Korea University, LL.B.

Representative Matters

  • 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

Awards

  • Leading Individual, Tax, Chamber and Partners Asia-Pacific (2022-2024)

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)

Insights