Tax Foundation

Automobiles South Korea announces emergency support for auto sector against US tariffs

South Korea’s government has announced emergency-support measures for the country’s auto sector, as it rushed to ease the impact of U.S....

Energy OCI to build $265 mn solar cell plant in Texas, expects $80 mn tax credit

South Korean solar cell company OCI Holdings Co. said on Thursday it will build a solar cell manufacturing plant in Texas through its US subsidiary ...

Regulations MBK Partners under Korean tax agency scrutiny

MBK Partners, a leading North Asia-focused private equity firm, has come under a probe by South Korea’s National Tax Service (NTS) amid the br...

Shareholder value S.Korea’s top financial regulator pushes tax support for value-up program

South Korea is ramping up efforts to encourage companies to enhance shareholder value by providing tax support for its corporate value-up program, a...

Energy Korea’s OCI, US partner CPS Energy sign 20-year energy storage deal

South Korean solar cell company OCI Holdings Co. said on Tuesday it has signed a deal with US power supplier CPS Energy to jointly build a 120-megaw...

Korean startups Big Mobility, Hummingbirds win Chung Ju-yung Startup Competition

The Asan Nanum Foundation selected Big Mobility and Hummingbirds as the top winners of the 13th Chung Ju-yung Startup Competition demo day on Novemb...

Business & Politics S.Korea set to scrap financial investment income tax

South Korea is set to scrap a plan to impose a tax on gains from financial investments – a scheme slated to be introduced early next year &nda...

Regulations Heavy inheritance, gift taxes spur rich Koreans to emigrate to Singapore

A South Korean co-CEO of a blockchain investment firm with hundreds of millions of dollars in assets moved to Singapore last year to avoid the North...

Regulations Big Tech get slap on wrist for tax avoidance in Korea

Global Big Tech companies such as Google, Meta and Netflix have paid a pittance in South Korea taxes and were fined as little as one-ten-thousandth ...

Business & Politics S.Korea’s reshoring companies pale amid lack of support, incentives

Reshoring, or a corporate U-turn to the home country from an overseas location, has been the global trend since the outbreak of the COVID-19 pandemi...

Korean startups Asan Nanum Foundation to hold startup competition in November

The Asan Nanum Foundation announced on Wednesday that it will hold a demo day for “The Chung Ju-yung Startup Competition” on Nov. 7 at C...

Shipping & Shipbuilding HD Hyundai establishes foundation for shipyard accident victims

South Korea's HD Hyundai Co. established the HD Hyundai Hope Foundation (tentative name) to support the families of victims of major industrial acci...

Beauty & Cosmetics Amorepacific's Hera enters Thai market

South Korea's Amorepacific Corp. announced on Thursday that its premium color cosmetics brand Hera opened its first store on August 8 at Central Chi...

Korean startups Asan Nanum Foundation revamps fund management

The Asan Nanum Foundation, a nonprofit foundation set up in 2011 to commemorate the 10th anniversary of Hyundai founder Chung Ju-yung’s death,...

Mergers & Acquisitions SkyLake offers to fully take over BusinessOn; stock rallies

Seoul-based private equity firm SkyLake Equity Partners has offered to buy the remaining shares of BusinessOn Communication Co., South Korea’s...

Korean startups Asan Nanum Foundation opens startup merchandise pop-up

The Asan Nanum Foundation announced on Wednesday that it opened a merchandise pop-up store in South Korea's startup for Maru Collect until August 25...

Artificial intelligence Rebellions, SqueezeBits to co-work on AI model compression

South Korea’s fabless AI chip startup Rebellions Inc. and AI model compression startup SqueezeBits announced on Wednesday that they partnered ...

Shipping & Shipbuilding HD KSOE picks Philippines as offshore wind power base camp

HD Korea Shipbuilding & Offshore Engineering Co. (KSOE), the parent of the world’s No. 1 shipbuilder, is accelerating its offshore wind po...

Business & Politics South Korea Plans $7 Billion Push to Pivot EV Battery Industry Away From China

South Korea is dedicating around $7 billion to help wean its electric-vehicle battery supply chain away from China and align more with U.S. trade gu...

Venture capital UAE to invest up to $1 bn in S.Korean ventures

The United Arab Emirates is set to invest a maximum of $1 billion in South Korean startups via a joint venture, as a part of its mid- to long-term p...

Energy Malaysia, OCI’s base set to beat Chinese polysilicon rivals

SARAWAK, Malaysia – OCI Group, South Korea’s leading chemical and green energy conglomerate, is expanding its polysilicon facility in Ma...

Beauty & Cosmetics Aekyung AGE20's to enter US cosmetics market

South Korea's Aekyung Industrial Co. announced on Tuesday that it signed a Memorandum of Understanding (MOU) with Silicon2, a global K-beauty distri...

Markets Samsung heiress sells $326 mn worth of Samsung Elec shares

Samsung Group heiress and Hotel Shilla Chief Executive Lee Boo-jin sold 441.2 billion won ($325.9 million) worth of Samsung Electronics Co. shares i...

Beauty & Cosmetics Aekyung AGE20's to launch cushion foundation in Japan

AGE20's, South Korean cosmetic company Aekyung Industrial Co. 's flagship cosmetic brand, announced that it held a new cushion foundation for a Japa...

Sovereign bonds Euroclear to trade S.Korean treasuries via omnibus account from June

The National Tax Service (NTS) of South Korea said on Tuesday that Euroclear Bank SA/NV and Clearstream Banking S.A., two major clearing houses for ...

Korean startups Asan Nanum Foundation invites innovators to startup pitch

The Asan Nanum Foundation, a nonprofit foundation set up in 2011 to commemorate the 10th anniversary of Hyundai founder Chung Ju-yung’s death,...

Batteries Solus Advanced Materials poised to lead EV copper foil market: CEO

Solus Advanced Materials Co. is not a household name among ordinary electric vehicle drivers. But the South Korean company is a little giant to gl...

Business & Politics China exodus to elevate Korea to Asia hub: AmCham chief

South Korea has outstripped Hong Kong and Shanghai as a preferred Asia-Pacific headquarters destination for global companies, trailing only Singapor...

Commodities Korea struggles with surging copper scrap exports to China

South Korea’s nonferrous metal industry is scrambling for the procurement of copper scrap as China, the world’s top copper consumer, has...

Korea business lobby group eyes tax reform in new parliament

The Korea Enterprises Federation will reinforce efforts to win lawmakers’ nod to its long-desired campaign to slash corporate taxes and inheri...