March 30, 2015
Today we are proud to make a formal announcement that Crowe Horwath Korea (Horwath Choongjung LLC) and Hanul Accounting Corporation have successfully closed a merger process to be effected as of March 30, 2015 with the corporate name of the merged firm to become Hanul Choongjung LLC.
Will rank 7th in Korea after the merger
After the merger, Hanul Choongjung LLC will become the 7th largest accounting and consulting firm locally in Korea based on revenue volumes of around 40billion Korean Won and with over 420 officers and staff in total (160CPAs and 260 professional/admin staff). Hanul Choongjung LLC will be headquartered in Seoul and also covering services in other major cities through its 5 branches located in Busan, Daegu, Changwon, Daejon, and Kwangju.
Crowe Horwath network and membership to remain intact
Membership with Crowe Horwath International (“Crowe Horwath”) will be transferred to the merged firm, Hanul Choongjung LLC being an exclusive member firm in Korea of Crowe Horwath. Crowe Horwath was originated from New York in 1915 and has grown as a Global Top 10 accounting and consulting network (ranks 9th globally, 6th in Asia Pacific region, and 3rd in China) with member firms in over 120 countries with 720 offices and 31,000 professionals worldwide.
Office location integration
Following the merger, the old Horwath Choongjung LLC office will be integrated into the headquarter office in Gangnam-gu, Seoul with effect from April 11, 2015.
(All telephone numbers and email addresses will remain unchanged.)
New Address: 10F Sindo Building, 14 Teheran-ro 88-gil, Gangnam-gu, Seoul 135-845, Korea
Telephone#: 82 2 316 6600 (no change)
Facsimile#: 82 2 775 5885 (no change)
Website: www.crowehorwath.co.kr(no change)
Email: firstname.lastname@example.org(no change)
Through this merger, we aim to further grow as the 5th largest accounting and consulting firm in Korea based on the nationwide network already established of Hanul as well as the global network strength of Crowe Horwath. In parallel to this quantitative growth, we also aim to refine quality services that we provide to clients as core business partner through vigorous efforts including:
Establishing global service provision network and system
Establishing and maintaining high level of service quality and risk management system for financial audits and advisory services
Developing and strengthening expertise and providing high quality ‘One Stop Total Service’
Improving service efficiencies by taking advantage of economies of scale through merger
More actively participating in social contribution activities
Closing comments and special thanks
We take this opportunity to express special thanks to the valued clients of Crowe Horwath Korea (Horwath Choongjung LLC) for the great support and confidence you have given to our firm for many years. After the merger, as the International Business Group (IBG) within Hanul Choongjung LLC, we pledge that we will continue to provide best quality services to your firm as your service provider and do the best to make this transition as smooth as possible. However, if you encounter any inconveniences in our services during this phase, please do not hesitate to contact either G S Sim, International Liaison Partner, or other Partners of our firm at any time.
Thank you and best regards,
Hanul Choongjung LLC
International Business Group(IBG) Point of Contact:
New office address (effective from April 11, 2015)
10th Floor, Sindo Building, 88-gil 14, Teheran-ro, Gangnam-gu, Seoul 135-845, Korea
Main Telephone: 82 2 316 6600(no change)
Fax Number: 82 2 775 5885(no change)
H J Hwang
82 2 316 6610
International Liaison Partner
G S Sim
82 2 316 6622
82 2 316 6646