windfall tax

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...

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...

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...

Bio & Pharma Samsung Biologics eyes windfall gain amid US-China row

SAN DIEGO – Samsung Biologics Co. is enjoying a stream of contract development and manufacturing order inquiries from big pharmaceutical compa...

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...

Electric vehicles Hyundai, LG ask US to ease EV tax benefit requirements

South Korean electric vehicle and battery makers including Hyundai Motor Group and LG Energy Solution Ltd. have asked the US to ease requirements fo...

Regulations S.Korea to scrap capital gains taxes on financial products

South Korea will scrap a plan to impose taxes on capital gains from financial products for all shareholders and further lower securities transaction...

Samsung Group Samsung heirs tap $2.1 bn block sale for inheritance taxes

The heirs of late Samsung Group Chairman Lee Kun-hee are seeking to sell their shares in Samsung Electronics Co. and other Samsung affiliates worth ...

Earnings Disappointing LG Energy earnings dim outlook amid weak EVs

LG Energy Solution Ltd., the world’s second-largest battery maker, disappointed investors with quarterly earnings on the sluggish global elect...

Business & Politics South Korea set to abolish financial investment gains tax: Yoon

South Korea plans to abolish capital gains taxes on financial investments to revitalize the lackluster domestic financial market and help individual...

Korean games S.Korea to put $3.6 bn shares in gaming giant NXC on sale

The South Korean government said on Monday it will launch a tender offer to sell off a 29.3% stake, valued at around 4.7 trillion won ($3.6 billion)...

Batteries GM asks LG Energy to share huge portion of US EV tax benefits

General Motor Co., the leading US automaker, has asked LG Energy Solution Ltd., the world’s second-largest electric vehicle battery manufactur...