EY Hanyoung Surpasses 500 Billion KRW in Revenue for the First Time... Seven Consecutive Years of Double-Digit Growth

Sales Revenue of 506 Billion KRW, Up 17.6% Year-on-Year

[Asia Economy Reporter Minji Lee] EY Han Young has continued its rapid growth, surpassing 500 billion KRW in annual sales.

According to the global accounting and consulting firm EY Han Young on the 5th, it recorded sales of 506 billion KRW for the fiscal year 2019 (July 2019 to June 2020). This represents a 17.6% increase compared to the previous year, achieving double-digit growth for seven consecutive years and recording industry-leading growth.

EY Han Young surpassed 400 billion KRW in sales for the first time last year and exceeded 500 billion KRW in just one year. It consists of Han Young Accounting Firm and EY Consulting, with Han Young Accounting Firm accounting for 388 billion KRW and EY Consulting and others recording 118 billion KRW out of the total 506 billion KRW.

The audit division led EY Han Young’s overall growth with a growth rate exceeding 30%, based on market trust and good reputation from clients. Major audit clients include Hana Financial Group, IBK Industrial Bank of Korea, Kia Motors, SK, SK Innovation, LG Household & Health Care, Korea Electric Power Corporation, Korea Gas Corporation, Hyundai Heavy Industries, POSCO International, Hyundai Department Store, CJ, GS Home Shopping, and Homeplus.

In the strategy and financial advisory division, achievements were made in areas such as restructuring advisory for the shipbuilding, aviation, and shipping industries, financial accounting advisory related to private equity acquisitions, post-acquisition performance improvement, and divestiture advisory related to portfolio restructuring for large and mid-sized companies.

The tax advisory division showed results in advising domestic mid-sized companies and continued to maintain strength in international tax advisory related to companies’ overseas expansion.

EY Consulting stood out in digital consulting for the financial sector, including MyData, next-generation financial systems, and risk management system innovation consulting. It also achieved results in key digital technology innovation and strategy consulting areas such as big data, cloud, and blockchain.

Park Yong-geun, CEO of EY Han Young, stated, “We will focus not only on quantitative growth but also on qualitative growth, becoming a partner who shares and solves customers’ difficulties with the highest quality of service.”

This content was produced with the assistance of AI translation services.