Korean Tax Blog

On July 12, 2024, Korea made a significant decision by setting the minimum wage at 10,030 KRW per hour for the year 2025. This marks a...

1. **Increased Labor Costs for Businesses** - Higher minimum wages can lead to increased labor costs for businesses. Small and...

Starting a new company in Korea involves several essential secretarial(House Keeping) services to ensure compliance with local...

In today's interconnected world, more and more professionals are choosing to work abroad as expatriates, seeking new opportunities and...

Starting from July 2024, the threshold for the simplified sole-proprietors(간이과세자) for small business owners will be increased from the...

According to the National Tax Service (NTS), there are 1.28 million corporate businesses and 5.43 million individual general...

### Introduction to VAT in South Korea Value Added Tax (VAT) is a critical aspect of the tax system in Korea, impacting both domestic and...

During the IMF crisis, the athlete Park Se-ri provided great courage and joy to our citizens with her US Open trophey. Currently, her...

Attention all expats in Korea! Oh, the joy of receiving the pink-hued letter of financial wonder! It's like getting an invitation to a...

The Overseas Financial Accounts Report is a regulatory requirement not only for Korean nationals but also for foreigners residing in...