Experts Corner: Ask Young-Jin Ham about Small-Business Accounting in Korea

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Young-Jin Ham
Hanmi Accounting Corporation
Managing Partner (Seoul, Korea)

Young-Jin Ham is a founding partner of Hanmi Accounting Corporation. Before joining Hanmi, he worked as Partner and Senior Financial Officer of Doran Capital Partners, which manages a US$1 billion real estate fund for European investment banks, such as Aviva Group, Fortis, SEB and others. He managed the accounting and tax compliance of twenty-one subsidiaries in Korea, Japan, Hong Kong, Belgium, Luxembourg, London, Australia, Guam and the US, and the financial reporting of European banks.

Before that he lived in the US, and worked as Executive Corporate Vice President and Chief Financial Officer at Liquidmetal Technologies Inc. which is a NASDAQ-listed company which manufactures metal parts for various industries. He managed US SEC compliance of the company and local tax and accounting compliance of subsidiaries in Italy, Korea, and China.

Previously, Young-Jin  Ham worked at PriceWaterhouseCoopers in Seoul for six years. His clients included Masterbuilders, Spieshecker, Aventis, Hoechst (Germany), GE Capital (US), Iscar (Israel), Panwell (Irland), Answer International, Goyo (Japan), and other Korean conglomerates, such as Hyundai, Samsung, LG and the Korean National Oil Corporation.

As a partner in Hanmi, he has been involved mainly with foreign clients such as Newcity (Japan), Landmark Investment, Openwave, Monitor Consulting Group (US), Assa Abloy (Sweden), and others. 

He is a CPA both in Korea and US, having graduated from Seoul National University and completed MBA courses there.

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Here's a short tutorial other small business owners in Korea might find helpful. It shows how to set up an online certificate from the bank and then how to use it to issue a tax statement through esero.com - http://www.koreabusinesscentral.com/forum/topics/video-tutorial-get...

Dear Mr. Ham:

I am new to the site, but not so new to Korea. I moved here from Canada in 2002, and I have been working in a university in Daegu for the past 7 years and spent 3 years in an English academy prior to that. Over the past 10 years, I have gotten married and started a family, and I am quite pleased to say Korea is my home. I have been given the opportunity to start a small business in the food and beverage industry here in Daegu with a couple of partners. One of the partners and I hold an 'F' visa, while the other does not. I was hoping you could give me some advice in regards to the type of business I should be starting. I enjoyed listening to the podcast of your interview in regards to starting a company. It focused a great deal on foreign investment in Korea, but I was under the impression I do not need to follow that path with my status in Korea. I would be very interested in and grateful for any advice you have to offer.

Thanks for your time.

Dario Silvestri 

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