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AMCHAM Breakfast: 2023 Tax Reform Highlights

Wednesday, February 01, 2023

7:30 AM - 9:00 AM


Andaz Seoul Gangnam, Studio I (B2)

2023 marks a year of change in both the Korean and U.S. tax systems. The reintroduction of the flat tax for foreigners in Korea and the overhaul of the retirement and pension scheme in the U.S. have implications for individual filing and report obligations. This AMCHAM executive briefing will cover these changes and provide an update on recent initiatives taken by NTS and the IRS toward individuals who failed to properly report foreign financial bank accounts. The briefing will be followed by a Q&A session, where participants are encouraged to ask questions about their specific situations.


TOPIC Executive briefing on 2023 changes and updates to Korean and US individual tax rules
COST KRW 78,000 for members
KRW 78,000 for non-members (My company is an AMCHAM member)
KRW 98,000 for non-members
Noon, Monday, January 30, 2023

* No refunds or cancellations after this date and time.
* Please complete registration in advance. No walk-ins or payments accepted at the door.
* 2 complimentary admission for Founding Partners.

About the Speaker

Jay Shim, Senior Foreign Attorney, Lee & Ko

With 30 years of working experiences in U.S., Europe, Russia and Korea, Jay Shim co-leads the tax practice at Lee &Ko and advises clients on tax advisory, tax audits, tax appeals and tax litigation matters. Jay also works closely with the firm's corporate practice on international infrastructure projects and early-stage natural resources development projects and has expertise in the areas of overseas investment, energy and natural resources, and offshore fund formation. For over 15 years, Mr. Shim has been recognized as a "leading individual" in Chambers Asia, "influential figure" in Tax Directors Handbook, "highly acclaimed" tax expert in The Asia Pacific Legal 500, "among 850 lawyers selected" in Who's Who Legal, "winner" in Client Choice 2015, "External Counsel of the Year 2013" by Asian-MenaCounsel, and "leading tax expert" in the Comprehensive Guide to the World's Leading Tax Firms.
In addition, Mr. Shim has served on several expert panels established by the National Tax Service and the Ministry of Strategy and Finance on matters dealing with procedures and policies affecting foreign companies doing business in Korea and foreign owned Korean companies, including assisting the Ministry of Strategy and Finance draft tax laws and regulations relating to controlled foreign corporations, advance tax treaty clearance, partnership taxation and transfer pricing.
Mr. Shim is a member of the International Bar Association, the International Fiscal Association, the American Bar Association and the Inter-Pacific Bar Association. He also serves as Co-Chair, Taxation Committee, American Chamber of Commerce in Korea.


(email) committees@amchamkorea.org

(phone) 02-6201-2229