Samjong KPMG Holds Seminar for Japanese Companies in Korea: "Sharing Regulatory Changes and Response Strategies"

Samjong KPMG announced on the 31st that it held a seminar the previous day at POSCO Tower Yeoksam in Gangnam-gu, Seoul, for representatives of Japanese companies operating in Korea.

Samjong KPMG held a seminar on the 30th at POSCO Tower Yeoksam for representatives of Japanese companies. Samjong KPMG

This seminar brought together experts from Samjong KPMG’s key divisions, including accounting, tax, finance, and consulting, to discuss major management issues faced by Japanese companies in Korea and strategies for addressing them. The event was attended by 70 executives and employees from Japanese companies, and presentations covered a variety of topics, including the introduction of IFRS 18, transfer pricing (TP) and Pillar 2 regulations, customs compliance, digital closing efficiency, and the advancement of AI-based internal controls.

The first session was led by Hosobuchi Shinji, Director at KPMG Japan, who discussed “The Impact of IFRS 18 on Japanese Companies Entering Korea,” introducing changes in financial disclosure and corporate preparation tasks resulting from the adoption of the new accounting standards.

Lee Sangmoo, Executive Director at Samjong KPMG, presented on “Recent Tax Audit Trends and Key Issues,” outlining strategies for Japanese companies to manage tax risks. Kim Jungeun, Executive Director, addressed “Recent Transfer Pricing (TP) Issues and the MAP/APA System,” while Paek Cheonwook, Managing Director, introduced “The Introduction of Pillar 2 and the Domestic Qualified Additional Tax Reporting System.”

In the customs session, Kim Taejoo, Executive Director, shared practical approaches to adapting to changes in customs administration through “Strategies for Responding to the Bulk Submission System for Taxable Value Reporting.” Park Changnam, Managing Director, presented on “Digital Closing Efficiency Measures,” highlighting innovative approaches to accounting and closing work using technology.

Jeong Seunghwan, Managing Director, presented strategies for improving fraud detection and control processes based on AI through “Advancement of AI-Based Internal Controls and Fraud Response.” Lastly, Shim Jaegil, Managing Director, analyzed “Recent Korea-Japan Investment and M&A Trends,” introducing opportunities for expanded cooperation and new investments between companies from both countries.

Jung Changkil, Executive Director of Audit at Samjong KPMG, stated, “We hope this seminar will help Japanese companies operating in the Korean market effectively respond to the rapidly changing business environment and develop sustainable growth strategies. We will continue to provide tailored services to enhance management efficiency and support growth through close cooperation with our Japanese corporate clients.”

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