amended tax bill

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 Parliament passes bill to expand boards’ fiduciary duties

South Korea's National Assembly on Thursday passed an amendment to the Commercial Act to expand boards of directors’ fiduciary duties to minor...

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...

Shipping & Shipbuilding HD Hyundai, Hanwha to tap into $242 billion US Navy warship market

South Korea’s two warship builders – HD Hyundai Heavy Industries Co. and Hanwha Ocean Co., – are set to ride tailwinds in their bi...

Economy Korea to launch $23 bn high tech fund, bracing for Trump 2.0

South Korea will launch a high tech fund worth more than 34 trillion won ($23 billion) to provide cheap financing, including equity investments, for...

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...

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...

Regulations Korea tightens rules on Netflix, Spotify subscription billing

South Korea’s antitrust body is slated to tighten the leash on subscription businesses of streaming service providers such as Netflix Inc. and...

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...

Energy High power bills drive Korean manufacturers out of country

South Korean manufacturers are increasingly moving abroad as the country's electricity bills are hovering about 30% higher than those of major eco...

Banking & Finance Shinhan Financial builds disaster response system

South Korea's Shinhan Financial Group announced on Sunday that it established a disaster response system to provide swift and substantial assistance...

Economy Korea’s food prices highest among OECD nations; utility bills at bottom

South Korea’s food prices were found to be the highest among the Organization for Economic Cooperation and Development (OECD) countries last y...

Corporate strategy SK's Chey rebuts court's SK unit value estimate for divorce

SK Group Chairman Chey Tae-won on Monday said the Seoul High Court has innacurately inflated his contribution to the growth of SK C&C, a busines...

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...

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...

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...

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 ...

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...

Korean stock market Korea announces measures to upvalue local shares

The South Korean financial regulator announced basic guidelines under the so-called corporate value-up program on Monday, with measures to boost the...

Sovereign bonds Fed rate cut hopes spur Koreans’ US Treasury bond buying spree

US Treasury bonds are gaining popularity among retail investors in South Korea amid expectations that the US Federal Reserve will cut interest rates...

Economy South Korea’s corporate tax-to-GDP ratio hits record high

South Korean companies paid more corporate taxes than their rivals in developed countries in 2022, losing competitiveness, with the nation’s c...

Regulations S.Korea should cut inheritance, gift taxes to OECD levels: SME lobby chief

South Korea, which imposes some of the highest inheritance and gift taxes on businesspeople among the Organization for Economic Cooperation and Deve...