Business
South Korea — Business: Annual Compliance
Korean companies file the corporate tax return within three months of year end, by 31 March for December year ends, at 9% up to KRW 200 million and 19% above.
VerifiedProfessional tax guide — not a government sourcePwC Worldwide Tax Summaries and KOTRA — Korea corporate taxLast reviewed: 2026-10-23
Key facts
- The annual return is due within three months of the end of the fiscal year, which is 31 March for a December year end.
- The rate is 9% up to KRW 200 million, 19% to KRW 20 billion, 21% to KRW 300 billion and 24% above that.
- A local income tax is added; sources differ on its size so check current rules.
- A domestic company is taxed on worldwide income.
Steps
- Register for a Business Number (, yeon-hwajae) — Foreign companies must first obtain a Business Number, which is required for all business operations in South Korea. This involves registering with the Small and Medium Business Administration (, chŏn'gae ŭi ch'ŏngŭm).
- File Annual Tax Returns — Businesses in South Korea are required to submit annual tax returns to the National Tax Service (, kuksa). The deadline for filing tax returns is typically in March of each year, but this may vary depending on the business and its size.
- Comply with Labour Laws and Regulations — Businesses in South Korea must also comply with labour laws and regulations, including those related to employee welfare, working hours, and minimum wage. The exact requirements and deadlines for compliance may vary depending on the business and its size.