Yoon Hoon-soo, CEO of Samil PwC
Interview on 50th Anniversary
Prioritizing Accounting Transparency and Employee Happiness
Committed to 100 Years of Sustainable Growth
[Asia Economy Reporter Park Ji-hwan] Samil Accounting Corporation, the largest accounting firm in Korea, celebrated its 50th anniversary on the 1st. In terms of human age, this corresponds to the age of Jicheonmyeong (知天命), when Confucius understood the mandate of heaven at fifty.
Yoon Hoon-soo, CEO of Samil Accounting Corporation, said in an interview with Asia Economy on the 31st of last month, "We will strive to secure accounting transparency so that economic participants can engage in transactions based on trust, and prioritize the happiness of our organizational members as the top task to grow into an accounting firm that lasts 100 years."
Samil Accounting Corporation started as Raiburan Accounting Corporation on April 1, 1971. After changing its name to Samil in 1977, it has maintained the number one position in the industry for over 30 years. The number of employees, which started at 17, has now reached about 4,200, and the sales revenue has increased from 66.98 million KRW in 1973 to 684.7 billion KRW last year.
To mark its 50th anniversary, it presented a new slogan, "Beyond the Best." While the previous slogan, "Best in All," used since its founding, meant to be the best in all fields such as accounting audits, tax consulting, and management consulting, the new slogan signifies not just being number one but contributing to creating social value and the happy lives of organizational members in the process of generating profits.
CEO Yoon emphasized, "In the past, a well-coordinated command system and organizational strength could create a leading firm, but in the future, a culture that prioritizes the organization will find it difficult to maintain competitiveness. We will apply a horizontal organizational culture that respects autonomy, creativity, and diversity so that each member can work happily and leave better jobs for the juniors."
Samil Accounting Corporation has designated this year as the first year to enhance social sustainability. At the end of last year, it developed and distributed free accounting systems for small public interest corporations. It also set a goal to achieve zero carbon emissions by 2030.
Above all, the firm emphasized securing accounting transparency as the realization of social value that accounting firms can best achieve. CEO Yoon stated, "Two years ago, during the audit process of Asiana Airlines, we did not issue an unqualified opinion. If there are problems with a company's sustainability, it is our role as guardians of capitalism to inform the market so that investors can reflect this in their decision-making."
He added, "Without trust, no economic transactions can be completed, and costs increase significantly. For limited resources to be allocated efficiently, social trust must be built through transparent accounting."
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