EY Hanyoung Achieves 528.7 Billion KRW in Revenue... 4.5% Increase Year-on-Year

[Asia Economy Reporter Park Jihwan] Global accounting and consulting firm EY Hanyoung announced on the 30th that it recorded total sales of 528.7 billion KRW in the last fiscal year, a 4.5% increase compared to the previous year.

EY Hanyoung consists of Hanyoung Accounting Corporation and EY Consulting. Hanyoung Accounting Corporation recorded 403.6 billion KRW, and EY Consulting recorded 125.1 billion KRW, achieving total sales of 528.7 billion KRW. By division, the audit division recorded 155.1 billion KRW, and the tax advisory division recorded 60.6 billion KRW, showing double-digit growth and driving the growth of Hanyoung Accounting Corporation. The operating profit of Hanyoung Accounting Corporation increased 8.8 times compared to the previous year to 26.2 billion KRW, with an operating profit margin of 6.5%.

The audit division led the overall growth of EY Hanyoung by maintaining solid growth of over 10%. In particular, it strengthened digital capabilities through digital audits to provide high-quality audit services. Major audit clients include SK Group, Hana Financial Group, IBK Industrial Bank of Korea, Kia, Hyundai Wia, SK Innovation, LG Household & Health Care, LG Energy Solution, Korea Electric Power Corporation, Korea Gas Corporation, Korea Shipbuilding & Offshore Engineering, Hyundai Heavy Industries, Hyundai Engineering, Hyundai Department Store, CJ, CJ CheilJedang, Homeplus, and Coway.

The strategy and financial advisory division achieved results in areas such as restructuring advisory for the shipbuilding, aviation, and shipping industries, commercial due diligence (Commercial DD) related to private equity (PE) acquisitions, growth strategy advisory for large and medium-sized enterprises, and sale advisory related to business portfolio restructuring. EY-Parthenon, the strategy-specialized consulting organization, delivered outstanding results in the M&A and restructuring markets, including the acquisition of Doosan Machine Tools, one of the largest big deals this year.

The tax advisory division showed achievements in domestic tax advisory for mid-sized domestic groups and continued to maintain strength in international tax advisory related to overseas expansion of large corporations.

This year, EY Consulting led the market in digital transformation areas such as big data, cloud, artificial intelligence (AI), and e-commerce, along with existing corporate strategy establishment and operational efficiency for major domestic clients. In financial consulting, it stood out in areas such as AI-based future contact center establishment, mobile platform strategy, digital consulting for the financial sector, next-generation system design for financial institutions, liquidity management in risk areas, and establishment of normalization plans for large financial institutions.

Park Yonggeun, CEO of EY Hanyoung, said, "This year, we strengthened our fundamentals and achieved qualitative growth in all business divisions, ensuring profitability. Amid the prolonged pandemic, we are seeking ways to grow alongside change, and we will broadly support our clients in turning challenges into new opportunities in ESG (environment, social, governance), digital, and strategy."

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