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Infrastructure and Innovation
South Korea possesses enviable innovative physical and digital infrastructure, with highly developed facilities such as broadband and telecommunications connectivity, railways, roads, airports, and ports.
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Consumer Trends
South Korea is a huge market for technology products and services, making it an unparalleled market for companies investing in this field.
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New Policies in South Korea:
South Korea has committed significant public investment to its Korean New Deal strategy, targeting renewable energy, smart healthcare, artificial intelligence, and digital infrastructure. The initiative aims to accelerate economic transformation and create new growth engines through innovation-driven industries and green technology development.
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Foreign Direct Investment Incentives
Foreign enterprises investing in high-tech sectors can enjoy special benefits and tax exemptions, including property taxes, acquisition taxes, tariffs, value-added taxes, and corporate income taxes. Other incentives include cash subsidies, free trade zone benefits, land rent subsidies, and reduced startup costs.
Tax Info
Enter Dynamic Page- General CIT Rate
- Progressive: 10% (up to 200M KRW), 20% (200M-20B KRW), 22% (20B-300B KRW), 25% (over 300B KRW)
- CIT Return Due Date
- Mid-term tax returns: within two months from the end of the six-month period; annual tax returns: within three months from the end of the fiscal year.
- CIT Payment Due Date
- The submission of the declaration form (instalment payments are allowed in the case of elections).
- CIT Estimated Payment Due Date
- N/A
- General VAT Rate
- 10
- General Capital Gain Tax Rate
- 25 (the same as the normal CIT rate for corporations over 300B KRW taxable income)
- Composite Effective Average Tax Rate
- 24.87%
- Composite Effective Marginal Tax Rate
- 22.0%
Administrative Regions
- 11 - Seoul
- 26 - Busan
- 27 - Daegu
- 28 - Incheon
- 29 - Gwangju
- 30 - Daejeon
- 31 - Ulsan
- 41 - Gyeonggi Province
- 42 - Gangwon Province
- 43 - North Chungcheong Province
- 44 - South Chungcheong Province
- 45 - North Jeolla Province
- 46 - South Jeolla Province
- 47 - North Gyeongsang Province
- 48 - South Gyeongsang Province
- 49 - Jeju
- 50 - Sejong City
Belonging Jurisdiction
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KR - South Korea
Republic of KoreaLearn MoreRepublic of Korea -
WORLD - Global
EarthLearn MoreEarth
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