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S. Korea to Increase Tax Incentives for Corporate Investment

S. Korea to Increase Tax Incentives for Corporate Investment

SEOUL, Jan. 6 (Korea Bizwire) — South Korea will expand tax incentives for companies to increase investments and permit more firms seeking innovative technologies to receive tax credits on research and development (R&D) costs, the finance ministry said Wednesday. The country will expand the scope of corporate assets eligible for tax credits and offer more [...]

S. Korean Companies Bet Big on Hydrogen for Zero-emission Goal

S. Korean Companies Bet Big on Hydrogen for Zero-emission Goal

SEOUL, Dec. 16 (Korea Bizwire) — Major South Korean companies in carbon intensive industries are jacking up investment in hydrogen across sectors to cut their greenhouse emissions and capture new business opportunities in the emerging energy sector. Hydrogen can offer solutions in fields ranging from transport to energy storage as an alternative to fossil fuels [...]

Major Firms’ 2018 Entertainment Expenses Dip 13 pct on Anti-graft Law

Major Firms’ 2018 Entertainment Expenses Dip 13 pct on Anti-graft Law

SEOUL, Aug. 26 (Korea Bizwire) — Leading South Korean companies’ entertainment expenses sank nearly 13 percent in 2018 on a draconian anti-graft law that came into effect two years earlier, government data showed Wednesday. A total of 7,402 companies spent a combined 3.16 trillion won (US$2.66 billion) in 2018, down 12.7 percent from 2016, according [...]

Companies Take More Steps as COVID-19 Infections Soar

Companies Take More Steps as COVID-19 Infections Soar

SEOUL, Aug. 24 (Korea Bizwire) — South Korean companies are taking additional steps to stem the spread of the new coronavirus, as the government has applied a stricter social distancing level amid soaring infections. The country’s major companies said they are adopting stricter quarantine measures for their employees, offices and production facilities due to a [...]