Konkuk University Medical Center and its ... - Korea IT Times

Investment Guide
However, the collection of tax may be exempted for the following cases:
• When the registration for a foreign-invested company is cancelled due to the foreign-invested dissolution through mergers
• When capital goods that have been exempted of customs tariff etc. in their imports are used or disposed of for other purposes than their
original purposes with the approval of the Ministry of Strategy and Finance, because they are unable to be used for their original purposes
due to natural disasters and other force majeure, or due to depreciation, technological advances and other changes in economic circumstances
• When transferring shares etc. to a citizen or corporation of the Republic of Korea to open the foreign-invested company to the public under
the Securities Trade Act
• Foreign investors who have invested in industry support services or high-tech businesses assign
their held shares to a citizen or corporation of the Republic of Korea, and the Ministry of Strategy
and Finance confirms that there is no difficulty in self-producing domestically, the products or services
produced or provided by the concerned industry support services or high degree technologies
• Assigning shares etc. held by a foreign investor to a citizen or corporation of the Republic of Korea
according to other laws or government policies, with confirmation from the Ministry of Strategy
and Finance
* Additional Attachment: Tax Reduction for Foreign-Invested Companies
Other Tax Supports
▶Tax Exemption for Technology Introduction Compensation
When introducing a high technology which is key to strengthening the international competitiveness of domestic industries, the corporate
tax and income tax on the compensations that the foreigner will receive for providing the technology shall be exempted for 5
years from the first agreed date of the payment for compensation. This applies not only to foreign-invested companies, but also to purely
domestic companies, as well. The Ministry of Strategy and Finance and the Foreign Investment Deliberate Council shall go under
deliberation and notify the range of technologies (high degree technology products and their technologies) eligible for tax reduction.
The standards for such technologies are as follows:
Source : Invest KOREA
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