National Tax Service's Seoul Regional Office Commissioner Kim Jae-woong (front row, fifth from left) poses for picture with leaders of foreign-invested companies during a roundtable meeting held in Seoul on Wednesday. (National Tax Service)
National Tax Service's Seoul Regional Office Commissioner Kim Jae-woong (front row, fifth from left) poses for picture with leaders of foreign-invested companies during a roundtable meeting held in Seoul on Wednesday. (National Tax Service)

The Seoul regional tax office has set up a dedicated hotline for foreign-invested companies as part of a broader push to streamline tax consultations and ease regulatory friction.

The National Tax Service's Seoul Regional Office said Wednesday that Commissioner Kim Jae-woong met executives from foreign-invested companies at a tax policy roundtable held at the Federation of Korean Foreign Enterprises earlier in the day. The meeting was part of an outreach effort to strengthen communication with overseas investors, outline available tax support and gather feedback on challenges facing foreign businesses operating in Korea.

During the session, tax officials briefed participants on key policies affecting foreign companies, including a temporary suspension of regular tax audits for up to two years for firms expanding investment and for small and medium-sized enterprises engaged in artificial intelligence. They also provided guidance on the global minimum tax set to take effect next year and compliance requirements related to reporting overseas financial accounts.

Briefings also covered taxation of overseas stocks and real estate, as well as stock options — areas that foreign business executives identified as particular points of concern.

In the following discussion, company representatives raised a range of tax issues, repeatedly citing difficulties in navigating consultations due to overlapping responsibilities between international and domestic corporate tax divisions.

In response, Kim said the Seoul tax office would establish a dedicated hotline for foreign-invested companies within its corporate tax division. The new channel aims to serve as a one-stop point of contact, allowing foreign firms to receive coordinated support without approaching multiple departments.

“The office will spare no effort in providing tax support so that foreign-invested companies can expand their investment in Korea and focus on their business operations,” Kim said.


jwc@heraldcorp.com