amended tax bill
Scope
Date
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Electric vehicles
Hyundai, LG ask US to ease EV tax benefit requirements
South Korean electric vehicle and battery makers including Hyundai Motor Group and LG Energy Solution Ltd. have asked the US to ease requirements fo...
Jan 22, 2024 (Gmt+09:00)
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Regulations
S.Korea to scrap capital gains taxes on financial products
South Korea will scrap a plan to impose taxes on capital gains from financial products for all shareholders and further lower securities transaction...
Jan 17, 2024 (Gmt+09:00)
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Samsung Group
Samsung heirs tap $2.1 bn block sale for inheritance taxes
The heirs of late Samsung Group Chairman Lee Kun-hee are seeking to sell their shares in Samsung Electronics Co. and other Samsung affiliates worth ...
Jan 10, 2024 (Gmt+09:00)
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Earnings
Disappointing LG Energy earnings dim outlook amid weak EVs
LG Energy Solution Ltd., the world’s second-largest battery maker, disappointed investors with quarterly earnings on the sluggish global elect...
Jan 09, 2024 (Gmt+09:00)
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Business & Politics
South Korea set to abolish financial investment gains tax: Yoon
South Korea plans to abolish capital gains taxes on financial investments to revitalize the lackluster domestic financial market and help individual...
Jan 02, 2024 (Gmt+09:00)
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Mergers & Acquisitions
Ocean carrier HMM's share price gains put KDB in hot seat
On Nov. 20, HMM Co., South Korea’s No. 1 ocean carrier, issued new 200 million shares after its two largest shareholders -- Korea Development ...
Dec 26, 2023 (Gmt+09:00)
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Korean games
S.Korea to put $3.6 bn shares in gaming giant NXC on sale
The South Korean government said on Monday it will launch a tender offer to sell off a 29.3% stake, valued at around 4.7 trillion won ($3.6 billion)...
Dec 04, 2023 (Gmt+09:00)
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Batteries
GM asks LG Energy to share huge portion of US EV tax benefits
General Motor Co., the leading US automaker, has asked LG Energy Solution Ltd., the world’s second-largest electric vehicle battery manufactur...
Nov 30, 2023 (Gmt+09:00)
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Business & Politics
Korea Inc.’s dividend repatriation soars on new tax breaks
Major companies in South Korea, such as affiliates of Samsung, LG and Hyundai Motor Group, are bringing larger amounts of capital back home from abr...
Nov 19, 2023 (Gmt+09:00)
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The KED View
Windfall tax on Korean banks to create quintuple burden
Koreans are piqued by banks raking in extraordinarily handsome profits and handing out generous bonuses amid the high-interest rate environment that...
Nov 16, 2023 (Gmt+09:00)
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Batteries
Korea’s battery trio aims to outsmart Chinese rivals in US
South Korea’s three major battery makers — LG Energy Solution Ltd., SK On Co. and Samsung SDI Co. — recently came under renewed pr...
Oct 16, 2023 (Gmt+09:00)
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Earnings
LG Energy Q3 profit at record high on gains from US battery tax credit
LG Energy Solution Ltd., one of the world’s leading battery makers, said on Wednesday its operating profit soared to a record high in the th...
Oct 11, 2023 (Gmt+09:00)
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Regulations
Apple, Google may face $50.4 mn fine over in-app billing in Korea
Apple Inc. and Alphabet Inc.’s Google may be fined up to 68 billion won ($50.4 million) in South Korea for breaking the country’s in-app...
Oct 06, 2023 (Gmt+09:00)
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Research & Development
S.Korea’s corporate R&D spending lags global rivals
Major South Korean companies’ spending on research and development lags investments made by their global competitors due to lower government t...
Oct 05, 2023 (Gmt+09:00)
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Batteries
LG Chem, Huayou to build LFP cathode plant in Morocco
South Korea’s LG Chem Ltd. said on Sunday it will build a lithium phosphate iron (LFP) cathode materials plant in Morocco in partnership with ...
Sep 24, 2023 (Gmt+09:00)
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Business & Politics
S.Korea to receive $1 bn in unpaid bills from Uzbek gas project
South Korean firms are poised to receive $1 billion in unpaid bill that has accumulated since 2017 from Uzbekistan’s Surgil gas project as the...
Sep 08, 2023 (Gmt+09:00)
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Tech, Media & Telecom
Webcash launches WeBill 365 in Cambodia
South Korea's Webcash Co. has launched its specialized billing solution "WeBill 365" in Cambodia."WeBill 365 maximizes convenience and efficiency fo...
Aug 30, 2023 (Gmt+09:00)
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Electric vehicles
France’s new EV subsidy bill may violate Korea-EU FTA: KITA
The South Korean auto industry has called for an amendment in France’s new subsidy policy for electric vehicle purchases after voicing concern...
Aug 30, 2023 (Gmt+09:00)
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Batteries
POSCO Future M to produce nickel for cathodes in the Philippines
South Korean battery materials maker POSCO Future M Co. is set to produce nickel in the Philippines to boost its cathodes supplies and improve profi...
Aug 18, 2023 (Gmt+09:00)
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Economy
S.Korea proposes extended tax breaks for reshoring companies
The South Korean government and the ruling party proposed longer-term tax cuts for companies that bring production back home to reinvigorate the cou...
Jul 21, 2023 (Gmt+09:00)
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Regulations
3rd-gen. corporate succession in S.Korea slashes stake from 100% to 16%
South Korea's business sector is urging reform of the domestic inheritance tax system to alleviate problems in corporate succession, citing difficul...
Jun 22, 2023 (Gmt+09:00)
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Electronics
India rises as LG's cash cow under revised S.Korean tax laws
South Korea’s LG Electronics Inc. has received nearly 600 billion won ($470 million) in dividends from its overseas operations in the first qu...
Jun 16, 2023 (Gmt+09:00)
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Batteries
Hyundai, SK battery JV may receive up to $700 mn in US grants
Hyundai Motor Co. and SK On Co. could receive up to $700 million in US tax breaks and grants for their electric vehicle battery plant under construc...
Jun 07, 2023 (Gmt+09:00)
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Corporate strategy
POSCO to comply with IRA rules to access battery tax breaks: chairman
NEW YORK – POSCO Group, which owns South Korea’s largest steelmaker, has been striving to transform into a low-carbon conglomerate by sh...
Jun 01, 2023 (Gmt+09:00)
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Earnings
KEPCO vows to save $19 bn in 5 yrs; CEO offers to resign over swelling losses
South Korea’s state-run utility monopoly Korea Electric Power Corp. (KEPCO) on Friday vowed to save nearly 26 trillion won ($19.5 billion) ove...
May 12, 2023 (Gmt+09:00)
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Economy
S.Korean growth outlook dims on increased trade deficit
South Korea’s exports are on course to drop for the eighth consecutive month as they declined in the first 10 days of May, data showed on Thur...
May 11, 2023 (Gmt+09:00)
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Companies
S.Korea advised to slash corporate inheritance tax to 30%
South Korean entrepreneurs are imposed heavy inheritance taxes of up to 60% to hand down wealth to their children, the highest level among Organizat...
May 11, 2023 (Gmt+09:00)
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Business & Politics
Hyundai Motor, Kia to receive 25% tax credit for EV plant spending
ULSAN, South Gyeongsang Province – South Korea’s Hyundai Motor Co. is poised to receive a 25% tax credit for its planned investment in a...
May 09, 2023 (Gmt+09:00)
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Business & Politics
Elon Musk reaffirms Korea among top candidates for Asia Gigafactory
WASHINGTON, D.C. – Tesla Inc. Chief Executive Elon Musk said on Wednesday that South Korea is still among its top candidates to build another ...
Apr 27, 2023 (Gmt+09:00)
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Business & Politics
S.Korean gov’t to export domestic tax service system abroad
South Korea's National Tax Service (NTS) is looking to export its world-renowned electronic tax administration system after successfully implementin...
Apr 25, 2023 (Gmt+09:00)
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