Korea Joongang Daily
Korea JoongAng Daily

Gas prices to rise as government trims fuel tax cut through June

The Ministry of Economy and Finance has said that it will extend the cut in fuel taxes through to the end of June, while partially scaling back the level of the reduction, which will result in a 40 won ($0.03) increase in gas prices starting May 1.

2025-04-22

Money flows upstream for Netflix with measly tax bill on 1 trillion won earnings

Netflix's Korean subsidiaries earned 949.6 billion won collectively, but paid a paltry 5.2 billion won in taxes.

2025-04-16

Civic group finds 1 in 5 lawmakers rich enough to owe real estate holdings taxes

The Citizens' Coalition for Economic Justice released a report that found that 60 of the 299 lawmakers in parliament were subject to the comprehensive real estate holding tax, indicating sizable net wealth.

2025-04-15

NTS launches free tax refund platform

Korea's National Tax Service launched free income tax refund platform One Click.

2025-03-31

Fresh on the job, Finance Minister Choi meets tax, customs chiefs for trade war talk

Finance Minister Choi Sang-mok discusses trade war strategies with the leaders of governmental organizations.

2025-03-26

Actor Yoo Yeon-seok contests 7 billion won tax bill

Actor Yoo Yeon-seok has filed for a review of a tax audit that resulted in a 7 billion won bill concerning payments by his self-established agency.

2025-03-14

Death tax set for overhaul, shifting focus to individual inheritance

Korea will overhaul its death tax system, shifting from taxing the total estate left by the deceased to taxing the amount each beneficiary receives.

2025-03-12

DP signals shift toward PPP's position on abolishing death duties for surviving spouses

Liberal Democratic Party (DP) leader Lee Jae-myung signaled agreement on Friday to a proposal by the conservative People Power Party (PPP) to abolish death duties for surviving spouses.

2025-03-07

PPP leader vows to abolish inheritance taxes for surviving spouses

Conservative People Power Party (PPP) interim leader Kwon Young-se said Thursday that his party will “abolish” inheritance tax for the transfer of assets from a deceased individual to their surviving spouse.

2025-03-06

Government to detail inheritance tax changes in March

Acting President Choi Sang-mok on Tuesday reiterated the need to revise Korea's decades-old inheritance tax system, stressing that taxation policies should be “reasonable” to reflect the evolving economic landscape.

2025-03-04