Samil PricewaterhouseCoopers (PwC) announced on the 27th that it has launched its Global Trade Solution Center.
This is to prepare for the global spread of protectionism and the tariff and trade issues that are key policies of the Trump administration's second term. The dedicated team plans to provide a one-stop integrated solution by consolidating and enhancing the existing individual services.
The dedicated team consists of over 10 partners who have provided professional advisory services for more than 20 years in the fields of trade (tariffs and trade disputes), international taxation, and supply chain. They have conducted various advisory services related to corporations' tariff and trade issues, including global tariff reduction strategies, transaction structure changes, export bypass responses, local outreach strategies, the tax impact of the U.S. Inflation Reduction Act (IRA), anti-dumping and safeguard responses, export control advisories, and cross border deal advisories.
This dedicated team has now integrated international tax experts in transfer pricing, overseas investment, and digital tax (global minimum tax) to provide clients with consistent and integrated solutions. In particular, the dedicated team plans to closely collaborate with PwC's international trade team and global tax policy team in the U.S. and PwC Global’s global rebalancing team (based in Singapore) to swiftly reflect changes in policies and insights from various countries in corporate advisory.
Jeong Yoon-hyeon, the head of Samil PwC's tax division, noted, “With the introduction of universal tariffs in the Trump administration’s second term and the recent successful re-election of the European Commission's 'Buy European' policy, it is expected that protectionist barriers will increase significantly. Samil PwC will provide strategic and integrated solutions so that domestic corporations can prepare for the uncertainties of international trade and turn survival threats into opportunities.”
The dedicated team plans to recruit trade policy experts in the future and conduct individual corporate briefing sessions along with seminars in collaboration with domestic external organizations.