South Korea Gazettes Law Amending Special Tax Measures Act

The South Korean Official Gazette Dec. 23 published Law No. 21223, partially amending the Special Tax Measures Act. The law includes measures: 1) extending, to Dec. 31, 2028, from Dec. 31, 2025, various tax incentives and special provisions for small and medium-sized enterprises (SMEs), startups, and regional development; 2) expanding tax deductions for contributions to credit guarantee, technology guarantee, and trade insurance funds that support cooperative SMEs; 3) enhancing tax exemptions and deductions for investments in venture companies and new technology startups; 4) increasing tax credits for hiring young, disabled, or career-gap workers; 5) establishing new rules for tax relief ...