Meet Ryan Ahn, International Partner at Aprio

Welcome to Aprio’s International Spotlight series, which gives you an opportunity to learn more about our international leaders and team members’ expertise, the businesses they serve and the challenges they overcome for clients. For this segment of our series, we sat down with Ryan Ahn, International Partner and Leader of Aprio’s Korean and Japanese Practices.

Thanks for chatting with us, Ryan. Could you tell us a little bit more about your background?

I grew up in Jeonju, South Korea, and had many opportunities to hang out with kids from the United States when I was very young. Those experiences inspired me to start thinking about living in America and finding a profession here.

I received my undergraduate degree from Hanyang University in Seoul, South Korea. Initially, my plan was to go to law school in America, but I ended up completing my Master’s degree in Accounting at the University of Illinois at Urbana-Champaign. I wanted to learn another language that may be helpful in my career, which led me to Japanese. While learning the language, I realized I respected and valued many of the things that are highly esteemed in the Japanese culture. That knowledge has served me well today, especially in my work with Japanese clients.

What drew you to Aprio? How has working for a diverse international firm been fulfilling for you personally?

I was drawn to Aprio because of the excellent leadership of Richard Kopelman, our Managing Partner. The firm itself also places great emphasis on growth in the international space. Depending on the project, various departments need to be involved with our Korean and Japanese clients, which is highly beneficial for both the firm and our clients. This approach allows them to gain more holistic expertise that they can apply to virtually every area of their business.

How do Aprio’s broad range of capabilities and industry focus create growth opportunities for clients?

Aprio is large enough to have most of the same areas or specialties as the “Big Four” accounting firms — but the difference is that we can provide more personalized, one-on-one service and more competitive fees. These offerings benefit our clients and give them extra incentive to partner with Aprio for their business advisory and accounting needs. Additionally, we have specialized groups (for instance, our Manufacturing & Distribution group) devoted to serving clients in specific industries, which allows for deeper subject matter expertise.

Have you noticed any specific nuances about working with Asian clients, particularly those from Japan and Korea?

Although China, Japan and Korea are close geographically and culturally, each country is very different in terms of its business style. Specifically for Japanese businesses, it tends to take a long time to build up good, solid relationships. However, once you gain the trust of Japanese businesses and develop a sound relationship with them, those connections last for a long time. Alternately, doing business with Korean companies requires dealing with fast-paced decision-making and responsiveness, since leaders and executives of Korean companies are used to making prompt decisions and moving on to execution quickly.

We’re currently seeing a wave of Korean investment in the Southeast. What has driven this trend?

I would say that the business environment in the Southeast has played a huge role in that. The Southern states have welcomed and encouraged foreign investors for a few decades now. Due to the industry and business ecosystem, many Korean companies are working together near automobile and battery manufacturers. I think the first investment wave started 15 years ago with Hyundai and Kia Motors and their parts suppliers. Now, we are experiencing the second wave, which is more related to electric vehicles (EVs), their battery-related companies and parts suppliers.

In light of this new investment wave, what are some of the biggest challenges facing Korean companies doing business in the US? How has Aprio helped solve them?

Two big challenges are the cultural differences and work style. In the Korean culture, this is sometimes known as “ppalli ppalli,” which is essentially the embracement of a fast-paced lifestyle. Another point to note is that in the Korean business culture, critical decisions tend to be determined by the president or CEO, especially for small-to-medium-sized businesses. At Aprio, we maintain our Korean Practice to specifically help minimize these issues for our clients, especially language and cultural differences. Our professionals speak Korean and understand the unique nuances of the culture, which helps create deeper connections and pivotal points of understanding.

What other trends or opportunities do you see for Korean and Japanese businesses?

Especially under the Inflation Reduction Act, more Korean and Japanese companies will be investing in and working with other US companies — examples of this include the joint-ventures between LG-GM, SK-Ford and Samsung-Stellantis. There are also several tax incentives that companies may not know about, including: property tax abatements and credits (i.e., PILOT); investment and port tax credits; R&D tax credits (i.e., state and federal); sales tax exemption incentive programs for construction materials; and more funds and tax credits for clean energy.

Are there any goals that drive your passion for serving your clients?

When I joined Aprio about 10 years ago, my goal was to build the foundation of the Japanese and Korean Practices and grow them enough to create and maintain three new partners upon my retirement. This will ensure that our practices are well-equipped to serve clients for generations to come; it’s a goal that continues to motivate me every day.

It’s always fulfilling when we are able to use our range of services to solve multiple challenges and needs. For example, we were able to provide one Korean client with a state tax review, advice on corporate structures and guidance on other important tax issues they were facing in the US. We also arranged and coordinated with other reputable providers for services we didn’t have, which helped minimize unnecessary costs. New investors from other countries do not have many connections or reliable sources to work with in the US, so they highly appreciate our guidance and support.

It gives me a sense of deep accomplishment to help and advise Korean and Japanese business owners so that they can become more successful in the US.