Pohang, a Great Place for Business, Takes Direct Action to Resolve 'Local Tax Vulnerabilities'!

Protecting Businesses with 'Visiting Local Tax Seminars for Companies'!

The city of Pohang, known as a "business-friendly city," will hold briefing sessions by directly visiting local companies that are experiencing difficulties due to complicated local tax filing and payment processes.

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] On the 23rd, Pohang City in Gyeongbuk Province visited two local companies as part of the ‘Pohang City Corporate Tax 119’ policy and held a ‘Visiting Local Tax Briefing for Companies.’

The ‘Visiting Local Tax Briefing for Companies’ is being promoted to break away from passive tax administration and contribute to creating a business-friendly environment amid unfavorable domestic and international competitive conditions for companies due to the recent Ukraine war and rising oil prices.

This briefing was conducted targeting ‘EcoPro BM,’ a leading company in the domestic secondary battery cathode material industry and a core company in Pohang, the battery value chain city, along with its six affiliates, and ‘Eviden Graphite Korea,’ a leading company producing artificial graphite, an important material in the advanced semiconductor industry.

At the briefing, the focus was on ‘local tax vulnerabilities’ that could provide some help to promising local companies, including ways to prevent ‘unintentional local tax reassessments,’ which received enthusiastic responses from about 20 attending staff members in charge of operations.

Through the ‘Local Tax Touring Briefing,’ Pohang City’s ‘Local Taxpayer Protection Officer’ plans to visit local companies experiencing difficulties with complicated local tax filing and payment, provide explanations and consulting support on easily overlooked local tax vulnerabilities, and overcome the current economic downturn together with businesses.

Mayor Kangdeok Lee stated, “By educating companies in advance about difficult-to-understand local tax matters and urging caution, we will do our best to protect companies from the burden of unintended additional tax reassessments and create a ‘business-friendly Pohang.’”

Those who wish to hold a ‘Local Tax Vulnerability Briefing’ or need consultation can contact the Pohang City Taxpayer Protection Officer.