1) Committee Mission Statement

The AMCHAM CFO Committee serves as a forum to identify, discuss and address key issues that impact CFOs in Korea as well as to facilitate peer-to-peer networking among CFOs. While the committee is closed to CFOs and Finance Directors, speakers and guests will frequently be invited from various consulting firms, accounting firms, law firms, government organizations, and other AMCHAM committees from time to time to ensure meaningful discussions and coordinated follow-up on key issues.

2) ​Activities in Support of the Mission

1.   To have at least 4 seminars (one per quarter) aimed at facilitating peer-to-peer networking among CFOs with a focus on key issues/concerns faced in Korea, including but not limited to the following:

• Treasury & Foreign Exchange Control Matters
• Compliance & Fraud
• Labor & Union Issues
• Customs Duties, VAT, & Customs Audits
• Transfer Pricing, Corporate Tax Compliance & Corporate Tax Audits
• Data Privacy
• Data Retention
• JV Issues
• Shared Services and Allocation of Common Expenses
• Management Service Fees and HQ Expense Allocations
• Business Restructuring & M&A
• Public Relations Issues
• Government Advocacy & Relations
• Individual Income Tax and Foreign Bank Account Reporting
• Valuations in Korea
• Managing Forex Risk

2.   To have at least once special session in which the co-chairs of the Taxation, Compliance & Ethics, Legal Affairs, and Foreign Investment Committees would be invited to brainstorm and prepare a joint wish list for future discussions with the MOSF, NTS, Ombudsman, etc. (and to evaluate progress on prior year wish list)

Co-Chairs

Henry An - Samil PricewaterhouseCoopers (02-3781-2594)

Michael Fendrick - MSD Korea Co., Ltd. (02-331-2000)