Samil PwC forms new unit to help corporate restructuring in economic downturn

Samil PwC building [Courtesy of Samil PwC]

Samil PricewaterhouseCoopers, accounting services firm of PwC in South Korea, plans to launch a ‘Business Turnaround Service (BTS) Center’ within this month in preparation for a potential wave of corporate restructuring amid economic downturn next year. The center is designed to help companies better respond to crises by providing one-stop support programs.

According to sources on Thursday, the BTS Center aims to provide fundamental solutions to improve earnings, short-term measures for recovery and ensure sustainable growth for companies

The center will be headed by Lee Kyu-dae, a Samil PwC partner, leading a group of eight partners. Lee is an expert with experience in corporate restructuring across various industries, including construction and shipbuilding.

The BTS Center combines Samil PwC’s consulting strengths with various financial advisory practices. The center is subdivided into four functional parts: business restructuring, restructuring strategy and execution, business strategy (mid- to long-term strategy and vision), and operation (production, sales and HR). These organizations will go virtual with experts from each field depending on the project.