Ministry of SMEs and Startups and National Tax Service Join Forces to Support Growth of AI SMEs and Startups

Support Measures for AI Startups Including Tax Audit Deferrals
Han Sung-sook: "We Will Establish a Comprehensive Support System"

The Ministry of SMEs and Startups and the National Tax Service announced on December 18 that they had signed a memorandum of understanding (MOU) at the Seoul Regional Tax Office in Jongno-gu, Seoul, to support the growth of artificial intelligence (AI) SMEs and startups.

Under this agreement, when the Ministry of SMEs and Startups provides the National Tax Service with a list of AI SMEs and startups eligible for tax support, the National Tax Service will offer the following support to these companies: minimizing tax audits, assisting with preliminary reviews for research and development (R&D) tax credits, providing liquidity support such as tax payment deadline extensions, and offering consultations on tax-related issues.

Han Sung-sook, Minister of SMEs and Startups, and Lim Kwang-hyun, Commissioner of the National Tax Service, are posing for a commemorative photo after signing the agreement at the "MOU Signing Ceremony to Support AI Growth for SMEs and Startups" held on the 18th at the Seoul Regional Tax Office in Jongno-gu, Seoul. Ministry of SMEs and Startups

The Ministry of SMEs and Startups will support R&D and commercialization for the development of AI models and services by SMEs, as well as productivity and quality improvement through the application of AI technology, and the enhancement of business management efficiency. The National Tax Service will actively assist with practical challenges faced by companies, such as tax filing and verification, and liquidity issues related to taxes, from a taxation perspective. Through this agreement, both organizations expect that AI SMEs will be able to focus on core activities such as technology development and achieve rapid growth.

Minister of SMEs and Startups Han Sung-sook stated, "We will do our utmost to expand cooperation across various fields and establish a comprehensive support system that enables AI SMEs and startups to grow into global AI companies." Commissioner of the National Tax Service Lim Kwang-hyun said, "It is more important than ever for SMEs, venture companies, and startups, which are the backbone of our economy, to achieve innovation and growth based on AI technology. We will continue to work closely with the Ministry of SMEs and Startups to provide practical support that AI companies can truly experience in the field."