News

1. Overview Due to the increasing diversity of transactions and complexity of tax laws, errors or omissions may arise wh…

1. Overview Under the Employee Retirement Benefit Security Act, a retirement pension plan is a system designed to help e…

1. Supreme Court’s Decision The Korean Supreme Court recently held that the disability employment levy is not subject to…

1. Overview Under the Act on External Audit of Stock Companies (the “External Audit Act”), Korean financial supervisory …

1. Overview of the Regime With the introduction and implementation of the Pillar Two, as part of the OECD/G20 BEPS Proje…

1. Overview Foreign individuals or corporations may enter the Korean market primarily by (i) directly investing equity t…

A domestic corporation or a foreign corporation with a domestic place of business must submit a transaction statement fo…

Special Taxation Rules for Foreign Expatriates 1. Overview The Special Tax Treatment Control Law (“STTCL”) prescribes sp…

National Pension Scheme in Korea 1. Introduction The National Pension system is a social insurance program operated purs…

Zero-rated VAT in Korea 1. Introduction The zero-rated VAT system applies a zero percent VAT rate to exported goods and …