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Supporting Daum move, Roh urges tax change

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Aug 26,2004
President Roh Moo-hyun said yesterday that the government should help Daum Communication’s relocation of its headquarters to Jeju island by revising the tax laws. Daum Communication, a leading domestic portal company, has been moving its offices out of Seoul since April. The relocation was encouraged by the government’s promise of tax breaks to companies that leave the capital area. But the company has said that it has not benefited much since the tax law articles have not specifically applied to its situation. “The system (that calculates the amount of tax exemption for relocated companies) seems to be unreasonable, even though it was made to encourage companies to move out of Seoul,” Mr. Roh said during a visit to Daum’s Jeju office. The president added that the system should be revised immediately. “The Ministry of Finance and Economy, after studies and discussion, will revise the taxation law,” said Lee Hee-beom, the minister of commerce, industry and energy, who accompanied Mr. Roh. by Yoon Chang-hee


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