[Graphic News] More big businesses set up firms in offshore tax havens
By Korea HeraldPublished : June 9, 2014 - 21:14
The number of South Korean companies established in the top 10 offshore tax havens last year jumped nearly 60 percent on-year from 54 to 86, indicating more conglomerates taking advantage of lower tax rates. The companies included on the list are affiliates of the top 40 family-run conglomerates.
The most popular destination for South Korean companies was the Cayman Islands, which saw a rapid increase of newly established firms from 18 in 2012 to 41 in 2013.
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Articles by Korea Herald