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Yoon Sang SIM Foreign Attorney (Admitted in Illinois)

T.+82-2-3703-1221 F.+82-2-737-9091/9092
Yoon Sang SIM Foreign Attorney
Yoon Sang SIM Foreign Attorney

Yoon Sang SIMForeign Attorney (Admitted in Illinois)

T.+82-2-3703-1221 F.+82-2-737-9091/9092 E.yssim@kimchang.com

Areas of Expertise

Bio

Yoon Sang Sim is a foreign attorney at Kim & Chang and is part of the firm’s Tax Audit & Tax Dispute Resolution Practice, General Tax Consulting Practice and Mergers & Acquisitions Practice. He specializes in representing clients in tax controversy and dispute resolution including tax audit defense, tax litigation and competent authority proceedings.

Mr. Sim has over 18 years of experience advising companies on a wide range of corporate and business tax issues such as permanent establishment, beneficial ownership, tax treaty interpretation and other tax matters affecting multinational corporations. He has represented clients in many business sectors and industries, including pharmaceutical, software, semiconductors, automotive assembly and parts, manufacturing, defense, insurance, investment banking and private equity.

Prior to joining the firm, Mr. Sim was with the International Tax Practice Group of Deloitte & Touche in Chicago, and before entering the private practice, he served as an auditor with the Office of the Inspector General of the U.S. Department of Defense, conducting audits of various defense contractors.

Mr. Sim received a J.D. from the Indiana University School of Law in 2001, and a B.A. in Accounting and a B.S. in Economics from the University of Illinois at Urbana-Champaign in 1994. He is admitted to the Illinois bar and is a Certified Public Accountant in Virginia.

Profile

Experience

Kim & Chang (2003-Present)

Deloitte & Touche LLP, Chicago, Illinois (2001-2003)

U.S. Department of Defense, Office of the Inspector General, Washington D.C. (1994-1998)

Representative Mattersshow

Tax Audit and Dispute Resolution
 
  • Represented a major global oil company in tax audit and administrative appeals thereafter on the beneficial ownership of dividends.
  • Represented a major US private equity fund in tax audit on beneficial ownership and permanent establishment issues related to Korean source capital gains income.
  • Advised a US technology company in successfully concluding mutual agreement procedure between US and Korean competent authorities.
  • Represented a major international consulting firm in tax audit and administrative appeals thereafter on deductibility of management service fee and royalty rate transfer pricing.
  • Represented a major US software company in tax audit, administrative appeals and court proceeding on deductibility of management service fee and beneficial ownership of royalty income.
  • Advised a major sovereign fund on the litigation of tax assessment related to thin capitalization treatment of related party loan.
  • Represented a major US multilevel marketer in administrative appeal and court on the deductibility of management service fee and royalty rate transfer pricing.
  • Represented a global pharmaceutical company in tax audit which various issues but primarily focused on transfer pricing and entertainment expense issues.
 
Tax Consulting
 
  • Advised a major US private equity fund in tax efficient structuring of investment in Korean company.
  • Assisted a European technology company in obtaining High Tech Technology designation for tax holiday benefits.
  • Represented a major German automotive components company in determining the valuation of shares transferred for the purposes of calculating the securities transaction tax.
  • Provided a global cosmetics company a comprehensive assessment of permanent establishment risks and recommendation in connection with sale of products in the Korean duty free market.
  • Advised a major US semiconductor manufacturer on developing strategies for negotiating with the Korean National Tax Service on the issue of royalty sourcing.
  • Advised various multinational companies on the tax efficient structuring of Korean operation, including entity type, transaction structure, pricing arrangement, etc.

Education

    Indiana University School of Law at Bloomington (J.D., 2001)

    University of Illinois at Urbana-Champaign (B.A., Accountancy, 1994)

    University of Illinois at Urbana-Champaign (B.S., Economics, 1994)

Qualifications

    Admitted to Bar, Illinois, 2001

    Certified Public Accountant, Virginia, 1997

Languages

English and Korean

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Yoon Sang SIM
Foreign Attorney (Admitted in Illinois)


T. +82-2-3703-1221      
F. +82-2-737-9091/9092
     


  




Yoon Sang Sim is a foreign attorney at Kim & Chang and is part of the firm’s Tax Audit & Tax Dispute Resolution Practice, General Tax Consulting Practice and Mergers & Acquisitions Practice. He specializes in representing clients in tax controversy and dispute resolution including tax audit defense, tax litigation and competent authority proceedings.

Mr. Sim has over 18 years of experience advising companies on a wide range of corporate and business tax issues such as permanent establishment, beneficial ownership, tax treaty interpretation and other tax matters affecting multinational corporations. He has represented clients in many business sectors and industries, including pharmaceutical, software, semiconductors, automotive assembly and parts, manufacturing, defense, insurance, investment banking and private equity.

Prior to joining the firm, Mr. Sim was with the International Tax Practice Group of Deloitte & Touche in Chicago, and before entering the private practice, he served as an auditor with the Office of the Inspector General of the U.S. Department of Defense, conducting audits of various defense contractors.

Mr. Sim received a J.D. from the Indiana University School of Law in 2001, and a B.A. in Accounting and a B.S. in Economics from the University of Illinois at Urbana-Champaign in 1994. He is admitted to the Illinois bar and is a Certified Public Accountant in Virginia.






    Kim & Chang (2003-Present)

    Deloitte & Touche LLP, Chicago, Illinois (2001-2003)

    U.S. Department of Defense, Office of the Inspector General, Washington D.C. (1994-1998)






Tax Audit and Dispute Resolution
 
  •   Represented a major global oil company in tax audit and administrative appeals thereafter on the beneficial ownership of dividends.
  •   Represented a major US private equity fund in tax audit on beneficial ownership and permanent establishment issues related to Korean source capital gains income.
  •   Advised a US technology company in successfully concluding mutual agreement procedure between US and Korean competent authorities.
  •   Represented a major international consulting firm in tax audit and administrative appeals thereafter on deductibility of management service fee and royalty rate transfer pricing.
  •   Represented a major US software company in tax audit, administrative appeals and court proceeding on deductibility of management service fee and beneficial ownership of royalty income.
  •   Advised a major sovereign fund on the litigation of tax assessment related to thin capitalization treatment of related party loan.
  •   Represented a major US multilevel marketer in administrative appeal and court on the deductibility of management service fee and royalty rate transfer pricing.
  •   Represented a global pharmaceutical company in tax audit which various issues but primarily focused on transfer pricing and entertainment expense issues.
 
Tax Consulting
 
  •   Advised a major US private equity fund in tax efficient structuring of investment in Korean company.
  •   Assisted a European technology company in obtaining High Tech Technology designation for tax holiday benefits.
  •   Represented a major German automotive components company in determining the valuation of shares transferred for the purposes of calculating the securities transaction tax.
  •   Provided a global cosmetics company a comprehensive assessment of permanent establishment risks and recommendation in connection with sale of products in the Korean duty free market.
  •   Advised a major US semiconductor manufacturer on developing strategies for negotiating with the Korean National Tax Service on the issue of royalty sourcing.
  •   Advised various multinational companies on the tax efficient structuring of Korean operation, including entity type, transaction structure, pricing arrangement, etc.





Education

    Indiana University School of Law at Bloomington (J.D., 2001)

    University of Illinois at Urbana-Champaign (B.A., Accountancy, 1994)

    University of Illinois at Urbana-Champaign (B.S., Economics, 1994)


Qualifications

    Admitted to Bar, Illinois, 2001

    Certified Public Accountant, Virginia, 1997


Languages
  •    English and Korean





Tax ,  Tax Audit & Tax Dispute Resolution