The Korea Customs Service has announced the Export PLUS+ Strategy to strengthen export competitiveness in advanced and promising industries.
Key changes include regulatory innovation for bonded processing exports and the launch of dedicated support teams for sectors like semiconductors, bio, and MRO.
The strategy was presented on February 5, 2024, with implementation planned within the first quarter.
The Korean Tax Tribunal released three major decisions for Q4 2025 affecting housing and taxpayer rights.
These rulings clarify VAT exemptions, tax investigation procedures, and acquisition tax obligations.
The decisions were announced in late 2025 and are now publicly accessible.
South Korea is launching new urban regeneration projects in 2024 to revitalize declining local cities.
The policy increases local government autonomy and funding for housing, commerce, and public amenities.
Project selection and implementation will occur in the first half of 2024, with details announced from March to June.
South Korea has approved a large-scale road improvement plan for six major metropolitan cities.
The initiative will invest 1.17 trillion KRW in 21 projects to ease chronic traffic congestion.
Implementation is set for the next five years, starting in 2024.
Korea’s Ministry of Trade, Industry and Energy is investing 4,645 billion KRW in automotive R&D and infrastructure in 2024.
The initiative targets autonomous, electric, and hydrogen vehicle technologies, supporting 44 new projects and regional business growth.
Funding and project details are available from June 6, 2024, with implementation underway.
The South Korean government is implementing new policies to strengthen the social safety net in 2024.
Key measures include tax debt relief for struggling business owners and expanded access to AI education and long-term care.
These initiatives are being rolled out nationwide, with applications open until December 31, 2028 for eligible programs.