Philips Korea Awarded Presidential Honor
Shin Pak Je, the president of Philips Korea, was awarded an unusual honor by President Kim Dae Jung on March 3. Philips Korea was found to have paid one of the largest amounts of tax by a foreign company to the Korean government.Despite the Korean economic crisis last year, Philips Korea paid 7.8 billion won in tax in 1998, which was up 50 percent from 1997.
Although the total sum of sales of Philips Korea declined to 145 billion won last year from 165 billion won in 1997, its tax payment increased.
with the Korea JoongAng Daily
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