Korea's tax agency cuts red tape for foreign firms to boost job growth

Korea is rolling out targeted tax incentives and administrative relief for foreign-invested companies, part of a broader policy push to position the country as a more competitive global investment hub. The National Tax Service said Monday that foreign firms boosting their domestic investments or expanding youth employment by 10 percent or more year-on-year will be exempted from international corporate tax audits for one year. Qualifying companies will also receive priority processing for research and development tax credit applications, skipping standard bureaucratic waiting lines. The measures follow a directive issued earlier this year by President Lee Jae Myung calling on fiscal authorities to actively support economic expansion and youth employment. Multinational corporations operating in Korea have long cited complex regulatory codes, compliance uncertainties and language barriers as primary hurdles to local operations. To address these systemic friction points, the tax agency has established dedicated counseling desks at its three major regional offices in the Seoul metropolitan a