South Korea

South Korea operates a single standard value-added tax (VAT) rate of 10%, distinguishing it from most VAT jurisdictions that apply…

South Korea’s construction sector is facing its most severe downturn in over a decade, prompting urgent calls for government intervention…

At a high-level international gathering of tax authorities in Santiago, Chile, South Korea made a bold statement on the future…

South Korea’s tax revenue surged by 5.5 trillion won ($3.8 billion) in March 2025 compared to the same month last…

The National Tax Service (NTS) of South Korea announced that individuals subject to comprehensive income tax and local income tax…

South Korea isn’t just tinkering with numbers; it’s quietly re-engineering the social contract for working families. By raising the income…

South Korea’s Democratic Party presidential candidate, Lee Jae-myung, has unveiled an ambitious proposal to introduce a 10% production tax credit…

As global tax landscapes evolve, South Korea’s personal income tax (PIT) system stands out for its intricate structure, blending progressive…

South Korean authorities have uncovered illegal export activities where foreign products — primarily from China — were fraudulently marked as…

A Policy Balancing Act in a Volatile Energy World On October 23, South Korea’s Ministry of Economy and Finance announced…