Kim Jang’s “Special Response” to Foreign PE Tax Audits

Strengthened Marketing Efforts Toward Private Equity Funds This Year

It has recently been reported that nearly all foreign private equity funds currently undergoing intensive tax audits by the National Tax Service have appointed Kim Jang Law Office to represent them in their response.

According to coverage by Legal Times, the majority of foreign private equity funds subject to irregular tax audits by the Fourth Investigation Bureau of the Seoul Regional Tax Office-including MBK Partners, Hahn & Company, Blackstone Korea, Anchor Equity Partners, and Affinity Equity Partners-have entrusted their cases to Kim Jang Law Office.

Kim Jang Law Office Logo

The Fourth Investigation Bureau of the Seoul Regional Tax Office is known as the "grim reaper of corporations," and is an elite unit deployed for special tax investigations, similar to the special investigation division of the prosecution. Simply being audited by this bureau is considered a major crisis for any company.

Kim Jang Law Office is known to have strengthened its marketing efforts toward private equity funds this year. Recently, private equity funds have emerged as major players in the legal market. They have been involved in nearly every large-scale merger and acquisition deal and have successfully closed numerous transactions.

An industry insider from a private equity fund said, "I have noticed that lawyers from Kim Jang Law Office are expanding their contact with private equity funds and are paying even greater attention to client management." Another industry insider commented, "There is no doubt about Kim Jang Law Office's outstanding capabilities, but recently, there has been a trend of seeking advice from other law firms more than before, in order not to rely solely on Kim Jang."

Lee Sangwoo, Legal Times Reporter

※This article is based on content supplied by Law Times.