Doing Business
in Korea

On July 31, 2025, South Korea’s Ministry of Economy and Finance issued a tax reform proposal. While it is still awaiting approval from the National Assembly, companies—particularly foreign entities—should start preparing for the likely new regulations.  It helps them lower immediate tax risks as well as gives them a window to adjust operations before the new changes take effect.  The scope of these reforms is broad and includes changes to the corporate income tax and complian

Released by the Ministry of Economy and Finance on July 31, 2025, the 2025 tax reform proposal highlights significant changes regarding corporate, personal, indirect, and international taxation. Therefore, it is important for corporations, foreign investors, and multinational enterprises to stay updated on impactful changes awaiting legislative approval.  The following summary outlines such proposals.  1. Corporate Income Tax Reform Rate Reversal: The proposal would raise the