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South Korea Investigates Suspected Evasion of Green License Plate Rule for Luxury Corporate Cars

South Korea Investigates Suspected Evasion of Green License Plate Rule for Luxury Corporate Cars

SEOUL, Nov. 11 (Korea Bizwire) – The Ministry of Land, Infrastructure and Transport has launched a comprehensive investigation into corporate vehicle registrations this year, following reports of companies attempting to circumvent new regulations requiring green license plates on corporate vehicles worth over 80 million won. The distinctive green plates, introduced early this year, are reportedly being [...]

President-Elect’s Pledge to Change the Color of Corporate Vehicle License Plates Worries Luxury Car Importers

President-Elect’s Pledge to Change the Color of Corporate Vehicle License Plates Worries Luxury Car Importers

SEOUL, March 15 (Korea Bizwire) — South Korean President-elect Yoon Suk-yeol’s campaign pledge to change the color of corporate vehicle license plates to light green is creating a sense of strain among luxury car importers. Yoon’s pledge is aimed at preventing the wealthy from evading tax by registering luxury cars they use for personal purpose [...]