The vice-president of Samsung Family Office wrote an article in the Korea Economic Daily a couple of weeks ago discussing the effects of FATCA. Samsung Family Office is a division of Samsung Life Insurance which markets products and services to customers with more than three billion won in assets — that is to say, people who would be “covered expatriates” if they are U.S. Persons. Of interest: his report that South Korea’s legislature is already considering amendments to tax laws in order to pave the way for an inter-governmental agreement.
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