Commissioner Kwanghyun Lim of the National Tax Service: "Corporate Tax Payment Deadline Extended by Three Months for Small and Medium-Sized Steel Companies"

On-site Meeting at the Pohang Steel Industrial Complex

The National Tax Service has decided to extend the corporate tax payment deadline by three months ex officio for small and medium-sized steel companies facing difficulties due to customs duties and global oversupply.

The National Tax Service announced that Commissioner Kwanghyun Lim held an on-site meeting at the Pohang Steel Industrial Complex on the 22nd, where these tax support measures were discussed.

An official from the National Tax Service explained, "Companies in the Pohang Steel Industrial Complex play a pivotal role in the Pohang economy, accounting for approximately 12.7 trillion won in annual production. However, they are currently struggling, as export performance has declined by 6.5% year-on-year due to the impact of customs duties and global oversupply."

Representatives attending the meeting expressed the opinion, "As the Pohang region is highly dependent on the steel industry and is significantly affected by the industry crisis, customized support measures that take into account the characteristics of the region and the industry are necessary."

In response, the National Tax Service announced that for small and medium-sized enterprises whose main business is steel manufacturing, the corporate tax payment deadline will be extended by three months until June 30, ex officio, without requiring a taxpayer application. As part of proactive administration, tax payment guarantees will also be exempted. Additionally, in cases where a corporate tax refund is due, the refund will be processed within 10 days (by April 10), significantly shortening the legal refund period (within 30 days of the filing deadline).

Commissioner Lim stated, "Based on the discussions held today, we will strengthen region-specific support. At the soon-to-be-opened 'Tax Issue Resolution Center,' National Tax Service consultants will provide customized tax consultations so that companies can focus solely on management without tax-related concerns."