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South Korean firm helps client consolidate international tax strategy using advice within the MGI Worldwide network

15th September 2016

MGI World MGI Worldwide accounting network member MGI Hanmi logo

MGI Hanmi Accounting Corporation demonstrates how MGI Worldwide membership helped the firm consolidate a Singaporean client’s tax strategy across several countries, including Japan, Hong Kong, South Korea and the US.

MGI Hanmi Accounting Corporation is a South Korean firm that provides a comprehensive mix of traditional and specialist accounting services. This includes audit, tax and consulting work, as well as government accounting, nonprofit accounting for art and culture organisations, reverse mergers and SOC (Social Overhead Capital) projects.

Young Ham profile imageBased in the country’s capital Seoul, the firm has nevertheless developed an extensive network of clients with international needs since launching in 2003. Young Ham, Head of the Global Services Division at MGI Hanmi, said expanding the organisation’s international capabilities was a key reason for joining MGI Worldwide.

Singaporean client benefits from international capabilities

MGI Hanmi Accounting Corporation chose MGI Worldwide because the firm required capable partners in other parts of the world, and the network has proved to be the ideal solution.

One year ago, a Singaporean client contacted Young to seek guidance on how to consolidate its tax strategy across several countries in which the company operated, including Japan, Hong Kong, South Korea, the US and Singapore.

Young emailed other MGI Worldwide members in those countries to request assistance with the client’s international requirements - and he received a response from every firm within 24 hours.

“I could quickly answer our client’s questions, and he was really surprised and satisfied. From that point in time, the way he looked at us as a firm with international capabilities was totally changed,” Young stated.

Screen shot of front page of case studyBuilding trust at MGI Asia meetings is important

Young is a firm believer in being an active MGI Worldwide member, which means regular attendance to the network’s Area meetings. In fact, he said the meetings have been crucial for building trust with other members.

“After two to three years of attending the Area meetings and meeting with our MGI member firms and people there, I could trust them,” Young said.

Strengthening regional ties

MGI Worldwide membership has also helped Hanmi forge strong bonds with other member firms across the entire continent, ranging from small and medium-sized enterprises to large-scale organisations.

“These firms have a very professional expertise in some of the areas and their reputation in that country is pretty strong,” he added.

Download the full MGI Member case study (PDF) HERE

Visit MGI Worldwide members profile page for MGI Hanmi Accounting Corporation HERE

MGI Hanmi Accounting Corporation is a member of MGI Asia, which is part of MGI Worldwide – a Top 20 ranked international accounting network with some 5,000 independent auditors, accountants and tax experts in over 250 locations worldwide.

 

 

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