[Stories of the Certified Tax Accountant (CTA)]

Changjin Kim, Representative CTA of SELIM Tax Office

Build a Competitive Edge in ‘Foreign Direct Investment' through Constant Learning …

[Tax Daily Newspaper] reporter SC Ryu, YJ Kim ejfejfdl@joseilbo.com

Published on Aug. 12, 2016

The CTAs (Certified Tax Accounts) are gathering one by one to the office in Keuncheon area in Seoul at 6pm every Wednesday.  They are gathering to have exciting debates on the subjects prepared and presented by each other which they experienced in the field and relative tax laws.

This is called ‘Wednesday Study' which has been proceeded over the last 10 years by Changjin Kim, Representative CTA of SELIM

Changjin Kim is now well known as a professional tax consultant and a veteran CTA for ‘foreign direct investment corporations'.  He has passed the CTA exam in 1986, and has built his career during last 30 years.  He expressed that SELIM's competitiveness in this area is attributed to the continuous learning.     

Became Famous through Word-Of-Mouth between ‘Foreign Direct Investment' Clients based on the competencies build up during 10 years…. 

Changjin Kim has decided to start services for foreign direct investment corporations about 10 years ago.  The Weekly Study has begun around this time, too.

He has run the tax and accounting service business since 1994 but, Kim thought that his business has faced the challenges against wall for the further growth of the business.  So Kim agonized over how he can overcome and found that the opportunity lies in the foreign direct investment corporations to meet the needs from the international market opening at that time.  He decided to have those foreign direct investment corporations as his core client base.   

Kim explained the situation at that time, “I had neither career at National Tax Service, nor good business ability and sociability.  I seriously agonized to find the way out to bring the business to the next level.”  

Kim said, “lots of foreign direct investment corporations have started their business in Korea as the market was opened at that time.  Considering all opportunities and challenges, I made up my mind to start the tax and accounting services for foreign direct investment where the blue ocean at that time.'

But nothing could be done well from the first time.  Having no knowledge about foreign direct investment corporations at the beginning, he didn't have a choice but to build from the beginning, laying the foundation stone.    

What Kim could do then was to face and get into the new challenges for foreign direct investment services what he has not been practiced and get solution for improvement through intensive study on the trials and errors.

Kim has started the Weekly Study from this time so that the affiliated CTAs in SELIM could share and learn the cases every week on the subjects they have experienced in the field.  This Weekly Study has been continued to this day.

Kim said, “every Wednesday, it has been presented and debated on the subjects by each affiliated CTA during past 10 years.  They have brought the cases what they have experienced during a week to the Weekly Study,” and “it has been quite small level of studies for each week, but our new competency which is differentiated from other tax service firms could have been built up through this Weekly Study.  And not it has become a significant level of base for the foreign direct investment corporation as it has been piled up by months, by years up 10 years.”       

But Kim did not keep those know-how and knowledge piled only within the firm.  The study materials developed every week are being posted in the SELIM website and share with all clients.

And SELIM is equipped with a professional for English interpretation and translation in order to provide best and convenient communication services to the clients of foreign direct investment corporations.  Also SELIM has opened English website and provide materials to the clients.

He is contacting the clients of foreign direct investment corporation continuously accompanied by a professional for interpretation ad translation more than once a week these days. 

Kim said, “and now clients are knocking our door first even we do not have separate advertisements“, and “there are many cases that they are come to us after they try to request services to large-size accounting firm, because of our experienced know-how and fee competitiveness“.

Also he emphasized, “the quality of service depends on the constant efforts to be a professional expert”, and “we can keep the trust based relationship with our clients only by providing best quality of services, and this could be maintained through constant learning.”   

The Head Office of SELIM Tax-Accounting Firm is located at Digital complex in Doksan-dong, Geumcheon-gu in Seoul, and Branch offices includes Geumcheon Branch 1 (branch manager, Hyunho Kim), Geumcheon Branch 2 (Myungseok Kim) and Gangnam Center (Junhyo Kim).  2 teams are organized in Head Office and Gangnam Center each, and one of teams is FDI team which is wholly responsible for foreign direct investment corporations.  And a professional for English interpretation and translation is one of member in FDI team.

Venture Start-up, New Opportunity Area for SELIM

New opportunity area what SELIM aims ambitiously is venture business start-up, followed by services for foreign direct investment corporations.

The expectation and supports to the new industry and venture business are high and active than ever due to the worldwide economic recession.  SELIM plans to specialize in this area as new competency and play a bridge role for the growth of the venture business.

Kim said, “generally, the venture enterprises are suffering from the obstacles for the growth at the beginning of the stage, due to lack of the accounting knowledge despite they are well equipped with technology competitiveness,” and “as I have faced those cases many times, we put the primary object in clearing all those difficulties when we provide our consulting services, so that they can grow to a bigger size enterprises with competitiveness.

Also Kim said that he also tries to contribute to build ‘mindset' of the top manager in addition to the normal consulting on the accounting system setup and settlement support, legal issues, etc.    

Kim said, “in consulting and supporting venture enterprise, our standpoint is that ‘once a company falls down, it is hardly possible to recover'”, and “as it is important to start off on the right foot, we pay our attentions to set up the healthy management system by contributing to build healthy mindset of top manager.”

Yujung Choi, an affiliated CTA in SELIM, is playing an active part in Start-up Support Center of Seoul National University as a consultant CTA to this Center, and increases the contacts with potential clients in the future.

Kim said “he keeps his clients updated with the high quality of tax and accounting information by sending those in emails or post mails every month, and also the various updated information is posting and providing in the SELIM website.      

He said “we'd sincerely appreciate the loyalty of clients, they want to keep our relations and stay as our clients continuously”, and “one of our clients with whom I have relations since 1994, from the time of beginning of this tax and accounting service, said ‘I really was not aware of when your hair has become such grizzled'‘'.    

[Profile] Changjin Kim, Representative CTA of SELIM Tax-Accounting Firm

▲Year of Birth 1963 ▲Daegu, Korea ▲Business Administration in Kyungpook National University – Tax Management in Kyunghee Graduate School ▲ Passed the Certified Tax Accountant exam in 1986 (the 23^rd) ▲ Administrative Officer in the Air Force ▲Start the own tax and accounting service firm business in 1994 ▲Counselling Committee member in Civil Affairs Office of New Seoul ▲Salvation Advisory Committee member in Geumcheon-gu, Seoul ▲complete course om Korea Leaders Academy (the 12^th) ▲The Advanced Policy Program, Graduate School of Policy Studies of Korea University (the 45^th)

Tax Daily Newspaper / Reporter SC Ryu, YJ Kim

ejfejfdl@joseilbo.com