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Governments Should Do More to Unlock the Potential of Technology to Facilitate Tax Compliance, Says PwC and World Bank Report

Governments Should Do More to Unlock the Potential of Technology to Facilitate Tax Compliance, Says PwC and World Bank Report

BEIJING, Nov. 20 (Korea Bizwire) — Tax authorities could do more to realise the full potential of new technology to reduce the tax compliance burdens on taxpayers, according to the 2019 edition of the annual Paying Taxes report, produced by PwC and The World Bank Group. The report, released today in Beijing, has found that [...]

Samsung Engineering Settles Dispute with Oman, ISDS Withdrawn

Samsung Engineering Settles Dispute with Oman, ISDS Withdrawn

SEOUL, Jan. 29 (Korea Bizwire) – Samsung Engineering’s longstanding dispute with the government of Oman has been resolved, and industry insiders expect the resolution to lead to increased business activity between the two down the road. According to industry watchers, the court at the International Centre for Settlement of Investment Disputes (ICSID) handling Samsung Engineering’s [...]

S. Korea Ranks 4th Globally in Biz Climate: World Bank

S. Korea Ranks 4th Globally in Biz Climate: World Bank

SEJONG, Oct. 28 (Korea Bizwire) – South Korea’s business environment ranking has risen to fourth place among 189 countries on improvements in property registry, contract enforcement and minor investor protection, a report by the World Bank showed Wednesday. According to the international institution’s annual “Doing Business 2016″ ranking report, the ranking represents a one-notch rise [...]

Korea to Expand Development Aid Activities in Needy Countries

Korea to Expand Development Aid Activities in Needy Countries

SEOUL, July 15 (Korea Bizwire) — South Korea will constantly try to expand development assistance for countries in need, capitalizing on its own experience, Foreign Minister Yun Byung-se said Wednesday. “Korea is the prime example of a least-developed-country-turned-donor. As such, we know from experience what it takes to overcome poverty and promote sustainable development,” he said [...]

S. Korea Pledges US$300 mln to World Bank’s Developing Nation Program

S. Korea Pledges US$300 mln to World Bank’s Developing Nation Program

SEJONG, Apr. 16 (Korea Bizwire) — South Korea has pledged US$300 million to the World Bank for its program to build critical infrastructure in developing countries and deal with their environmental and energy issues, the government said Thursday. The finance ministry said the memorandum of understanding (MOU) reached in Washington on Wednesday calls for the [...]