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

Value-added tax (VAT) is a fundamental aspect of business in South Korea. Whether you're a domestic company or a foreign business...