The Korea Deloitte Group has recruited Bae Doo-yong, former Chief Financial Officer (CFO) and representative director of LG Electronics.
The Korea Deloitte Group announced on the 11th that it has established a 'Trade & Digital Integrated Service Group' organization to respond to the trade and commerce policies of the Trump administration for domestic corporations. Bae, the former representative, has been appointed as the leader of this organization.
The Korea Deloitte Group assessed that, following the launch of the Trump administration, the tariff war initiated by the United States has rapidly materialized, making it a critical managerial issue for domestic export corporations to respond to global trade issues and the restructuring of global supply chains.
A representative from the Korea Deloitte Group noted, "To this end, we have recruited Bae, the former representative who has overseen finance and trade at LG Electronics for many years and has excellent external cooperation capabilities," and explained the background of the recruitment by stating, "We plan to offer differentiated integrated consulting services to export corporations facing complex global trade issues by combining Deloitte's global capabilities."
Bae, the former representative, graduated from Seoul National University with a degree in economics, obtained a master's degree in policy from the same university, and received a master's degree in accounting from George Washington University in the United States. He served as a secretary in the National Tax Service's Investigation Bureau and International Taxation Bureau after passing the 33rd Civil Service Examination, and joined LG Electronics as an executive in 2005. He has since accumulated comprehensive experience in managing overseas subsidiaries, including external cooperation, taxation, trade, mergers and acquisitions (M&A), and transfers.
From 2006, Bae led to the imposition of anti-dumping measures and safeguards against global competitors such as Whirlpool at LG Electronics. He also worked with the Korean government to win a case against the World Trade Organization (WTO) regarding target dumping and zeroing. In 2017, as the Trump administration strengthened protectionism under the 'MAGA (Make America Great Again)' policy, he decided to establish a washing machine factory for LG Electronics in Tennessee and completed the project from securing the factory site to the establishment of the factory in 2019.
Bae noted that essential areas to consider when imposing tariffs include ▲ scenario-based pricing policies ▲ tariff calculation and origin ▲ transfer pricing appropriateness. Additionally, when deciding on the factory transfer, he pointed out factors such as ▲ optimal site selection ▲ examination of production tax environments and incentives ▲ regulatory impact assessment including ESG ▲ collaboration with partners for market entry and building local supply chains.
Bae stated, "With the launch of the Trump administration, the transition to protectionism in global trade policy is expected to solidify as an inevitable trend," and added, "This group will provide differentiated integrated consulting services, including scenario-based approaches and strategy formulation, to respond to the complex global trade issues faced by corporations."