Corporate tax litigation on the NPL Resolution Fund (149.8 billion Korean Won)

As of March 2014, Lee & Ko represents 15 commercial banks, including Kookmin Bank, in a corporate tax litigation regarding the distribution of profits of the NPL Resolution Fund. The financial services industry is also interested in the outcome of this case because, not only is the tax amount at issue large (149.8 billion Korean Won), but an important legal issue is whether the NPL Resolution Fund is a joint project or a trust property for corporate tax purposes.