Russell Bedford appoints leading CPA firm in South Korea

December 2020

Global professional services network, Russell Bedford International, has announced the appointment of Samhwa Accounting Corporation, leaving Moore Global to become Russell Bedford’s new member firm in South Korea.

Established in Seoul in 1997, Samhwa Accounting Corporation expanded via mergers with Cheil Accounting Corporation in 2012 and Daegwang Accounting Corporation in 2013. The firm is now one of the largest firms of accountants and auditors in South Korea.

Registered with the Financial Services Commission as an auditor of stock exchange listed companies, Samhwa has 38 directors/partners and more than 230 personnel in total. 110 of the firm’s personnel are qualified CPAs and members of the Korean Institute of Certified Public Accountants (KICPA).

Samhwa provides a comprehensive range of assurance, accounting, tax and business consulting services and has more than 6000 clients, including some with overseas operations in the USA, China, Vietnam, Taiwan and Indonesia.

Speaking about the appointment, Russell Bedford CEO Stephen Hamlet said: “We are delighted to welcome Samhwa as our member firm in Seoul. The firm’s impressive range of services and sizeable personnel provides a huge boost to the network’s capabilities in the region. Samhwa is an ambitious and determined firm, having experienced significant growth since it first originated, and has the type of drive that is well aligned with Russell Bedford’s commitment to growth and development. I look forward to meeting the team as soon as possible and to welcoming them into our supportive network; helping them meet their goals and aspirations.”

Wanjoo Sug, CEO of Samhwa, added: “We are thrilled to join the Russell Bedford network! International network membership is critical to our firm’s success in assisting our clients with overseas operations. Having experienced membership of other networks, we had a clear vision in terms of what we needed from our future alliances, and we are very happy to have found in Russell Bedford a network that is much more aligned with our firm’s requirements. We very much look forward to connecting with our counterparts around the globe and to begin collaborating to provide comprehensive support to each other’s clients.”

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