Recent Developments

Lee & Ko LLC held the "IFA Korea Monthly International Tax Forum" on Thursday, May 28, 2026, in collaboration with IFA(Chairman: Park Hun, Vice President of the University of Seoul).
 
Under the main theme of "Recent Issues in Transfer Pricing Practice," this forum was attended by more than 70 participants, including international tax experts from major law firms and accounting firms, academics, and association members. The forum participants engaged in in-depth discussions regarding the latest transfer pricing trends and practical issues.
 
In the emergency diagnostic session, Foreign Attorney Kyu-Bin Kang of Lee and Ko delivered a presentation on the topic of "California Corporate Tax Reform and Korean Companies." This session covered the key details of the corporate tax reform currently being pursued in California, its impact on Korean companies operating there, and key implications that need to be reviewed in practice.
 
The first session was conducted in a Fireside Chat format under the theme of "Practical Trends in MAP/APA related to Transfer Pricing." Steve Minhoo Kim, a senior Foreign Attorney at Lee and Ko, served as the moderator, while the panelists included Partner Hye-jin Jeon of Samil PwC, Managing Director Ju-won Park of Deloitte, CPA Jae-seok Park of Kim & Chang, and Senior Managing Director Sang-hoon Kim of KPMG. Focusing on Mutual Agreement Procedures (MAP) and Advance Pricing Agreements (APA), this session broadly covered operational trends in the practice environment where both the number and complexity of cases are increasing, the strategic selection and utilization of each procedure, and issues that practitioners must be aware of during consultations with tax authorities.
 
The second session was held under the theme of "Case Studies on DEMPE Regulations."  Partner Philje Cho of Lee and Ko delivered the presentation, while Managing Director Dong-Hoon Ha of EY Korea, Foreign CPA Tae-Hyung Kim of Yulchon LLC, and Attorney Si-Won Hur of Yoon and Yang participated in the panel discussion. Focusing on recent practical cases regarding the functional analysis of the Transfer Pricing Guidelines' DEMPE (Development, Enhancement, Maintenance, Protection, Exploitation), this session engaged in the discussions on Function, Asset, and Risk (FAR) analysis in intangible asset transactions, criteria for determining economic ownership, points of divergence with tax authorities, and strategies for dispute prevention.
 
The forum concluded with closing remarks by Junghong Kim, IFA Korea Incoming Chair, who expressed his deep gratitude to all presenters, discussants, and attendees, and stated that IFA Korea will continue to faithfully fulfill its role as a central platform for the exchange between practice and academia in the field of international taxation.

On May 26, 2026, Steve Minhoo Kim, Pilje Cho, and Jaekyoung Han, all from Lee & Ko's Tax group, delivered a presentation at the ECCK Tax Forum on the topic “The Korean Tax Landscape: Traditional Principles, Modern Enforcement.”

The seminar, held for members of the European Chamber of Commerce in Korea (ECCK), examined the Korean tax authorities’ increasingly practical and proactive approach to taxation in a changing global tax environment. The speakers discussed recent enforcement trends, including the application of traditional international tax concepts such as permanent establishment (PE) and transfer pricing (TP) from a modern market-oriented perspective, and highlighted key implications for multinational enterprises operating in Korea.

On May 22, 2026, Steve Minhoo Kim of Lee & Ko's Tax group participated as a panelist in the AMCHAM Taxation Committee Meeting, where he joined Professor Robert J. Danon and other leading international tax professionals in discussing the OECD’s recently released 2026 Manual on Effective Mutual Agreement Procedures (MEMAP).

The seminar, attended by members of the American Chamber of Commerce in Korea (AMCHAM), explored practical guidance and best practices for the effective use of Mutual Agreement Procedures (MAP), as well as recent developments in international tax dispute resolution. The discussion also covered the OECD’s tax certainty agenda and the evolving landscape of cross-border tax dispute prevention and resolution.

Lee & Ko held a seminar on “Recent Key Legal Issues,” including the mandatory cancellation of treasury shares and the proposed anti-stock price suppression legislation, for member companies of the KOSDAQ Association at the KOSDAQ Association Hall on May 22, 2026. The seminar consisted of three sessions, beginning with an introduction by Jinhong Kwon of Lee & Ko.
 
In the first session, Taejung Kim of Lee & Ko’s M&A group delivered a presentation titled “Mandatory Cancellation of Treasury Shares under the Third Amendment to the Commercial Act and Related Response Strategies.” In the presentation, Mr. Kim emphasized that, in response to the revised regulatory environment arising from the mandatory cancellation of treasury shares, companies would need to conduct sufficient review not only of amendments to their articles of incorporation and practical preparations for obtaining shareholder approval of treasury share retention and disposal plans at shareholders’ meetings, but also of issues such as whether treasury shares may be disposed of for management purposes and whether enhanced fairness measures would be required.
 
Next, Sanghoon Kim of Lee & Ko’s Tax group gave a presentation on “The Legislative Purpose and Implications of the Proposed Anti-Stock Price Suppression Act.” The presentation explained the legislative background, purpose, and specific provisions of the proposed amendments relating to the anti-stock price suppression legislation and provided a detailed analysis of the advantages and disadvantages of the proposal through comparison with foreign legislative precedents, as well as its practical impact on the stock market. The presentation also examined potential constitutional concerns and possible supplementary measures in the event the amendments are enacted into law.
 
Finally, Younghoon Song, senior advisor at Lee & Ko, delivered a presentation titled “Reform of the Delisting Regime and Key Considerations for Listed Companies.” This presentation reviewed the implications and practical issues arising from the strengthened delisting standards and explained the measures necessary to address potential future delisting risks, including the enhancement of internal disclosure systems, adjustment of reverse stock split schedules, and management of shareholders’ equity.

On May 19, 2026, Philje Cho, an tax partner at Lee & Ko, delivered a presentation titled "The New Audit Trend: Defending Intangibles and Royalties in Korea., at the "BCCK Finance, Audit & HR Briefing".

The seminar, held for members of the British Chamber of Commerce in Korea (BCCK), offered a broad look at case studies and key trends regarding tax audits and assessment issues for intangibles and royalties in today's changing global tax environment. Notably, the session pointed out that tax authorities are tightening their scrutiny of intangible assets. It also shared practical coping mechanisms and risk management tips to address these developments.
Attendees had the opportunity to examine key risks and strategic directions that multinational corporations should consider in response to the changing landscape of tax audits.

Asian Legal Business (ALB) has once again named Lee & Ko among Asia’s leading ESG law firms in its “ALB Asia Top ESG Law Firms 2026.” This marks the firm’s third recognition in this category, reaffirming Lee & Ko’s depth of expertise, market leadership and continued commitment to ESG-related legal services.

Lee & Ko provides comprehensive, one-stop advisory services through its ESG Group, which brings together dedicated professionals across key practice areas, including Environment, Occupational Safety & Health, Compliance, Corporate, and Labor & Employment. This latest recognition reflects the strength of the firm’s integrated advisory capabilities and its extensive experience in advising on a broad spectrum of ESG mandates.

Notably, Lee & Ko’s ESG Group has worked closely with the Ministry of Climate, Energy and Environment in shaping Korea’s green chemistry framework and advancing its pilot program, contributing to the development of a robust national system for assessing the sustainability of chemical substances. In the private sector, the Group has advised on the development of greenhouse gas reduction methodologies for agricultural projects utilizing methane-reducing microorganism technology, supporting clients in strengthening their carbon reduction strategies and ESG preparedness.

Lee & Ko has also been actively involved in a wide range of ESG-related matters, including green bond and ESG finance advisory, supply chain and human rights due diligence, and responses to greenwashing investigations. Through these engagements, the firm continues to support clients in building more sustainable, resilient and globally competitive businesses.

Asian Legal Business (ALB), a leading legal industry publication affiliated with Thomson Reuters, identifies outstanding ESG law firms across the Asia-Pacific region based on a comprehensive assessment of expertise, market reputation and client feedback from leading law firms and practitioners.