SEOUL, Jan. 16 (Korea Bizwire) — The government will roll out a range of tax incentives to support vulnerable groups and small merchants, and expand strategic technology industries to help create new growth engines, the finance ministry said Friday. The measures are part of a follow-up amendment to enforcement decrees linked to the government’s tax [...]
SEOUL, Jun. 3 (Korea Bizwire) — The government will extend greater tax benefits and tailored support to smaller companies to help them become second-tier midsized firms in an effort to create quality jobs and spur growth momentum, the finance ministry said Monday. A set of such supportive measures were presented during an economic ministers’ meeting [...]
SEOUL, Feb. 26 (Korea Bizwire) — The financial regulator said Monday that it will work to incentivize efforts by local businesses to enhance their own value that will in turn lead to increased returns to investors. The move comes as part of efforts to end the “Korea Discount,” where local shares are traded at prices [...]
SEOUL, March 28 (Korea Bizwire) — South Korea’s tax exemptions and incentives for this year are expected to hit an all-time high of 69.3 trillion won (US$53.48 billion), as the country seeks to better support vulnerable people and spur economic growth, the finance ministry said Tuesday. The value of the tax cuts and credit, approved [...]
SEOUL, Jan. 3 (Korea Bizwire) — South Korea will seek to expand tax incentives on strategic industries such as chips amid the heightening competition in the global market, the finance ministry said Tuesday. Under the proposed tax code revision, the government will apply a higher tax credit rate of 15 percent on facility investment in [...]
SEOUL, Jan. 6 (Korea Bizwire) — South Korea plans to provide tax incentives for research and development (R&D) on green technology designed to help cut carbon emissions in an effort to nurture new industries, the finance ministry said Thursday. Currently, the country has picked 235 technologies in 12 sectors, including next-generation vehicles and bio health, [...]
SEJONG, July 8 (Korea Bizwire) – South Korea said Thursday it will increase investment to develop the next-generation battery technology, expand its manufacturing base and secure supply chains as it seeks to foster the rechargeable battery industry as the next growth driver. The Ministry of Trade, Industry and Energy unveiled the so-called K-battery blueprint to [...]
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 [...]