By Diplomacy Journal Lee Kap-soo

The American Chamber of Commerce in Korea (AMCHAM), led by Chairman and CEO James Kim, hosted National Tax Service Commissioner Lim Kwang-hyun at a roundtable at the IFC Forum in Yeouido on Nov. 28 for a wide-ranging discussion on how to further enhance Korea’s attractiveness as a global investment destination.

The AMCHAM delegation shared insights on the tax and regulatory challenges foreign companies encounter in Korea and emphasized the need for greater predictability and clarity in the business environment.

Commissioner Lim outlined the administration’s tax policy priorities and expressed the NTS’s commitment to continued dialogue and responsiveness to the international business community.

AMCHAM Chairman & CEO James Kim underscored the importance of an investment environment anchored in stability and transparency. “A fair and predictable tax environment is essential for Korea to compete for global capital and talent,” he said.

He continued, “AMCHAM sees tremendous potential for Korea to emerge as Asia’s leading innovation hub and premier regional headquarters. We look forward to working closely with Commissioner Lim and the NTS to help create an environment where global companies can invest with confidence and grow for the long term.”

Commissioner Lim highlighted that seven major global companies announced plans to invest roughly KRW 13 trillion (USD 9 billion) in Korea during the APEC meetings last month, noting that the NTS intends to “ensure an environment where foreign companies can focus on their business and expand investment with confidence.”

During the session, the NTS introduced a new package of tax support measures* designed to alleviate the compliance burden for foreign-invested companies, developed in alignment with the Lee Jae-myung Administration’s agenda to promote greater foreign direct investment in Korea. The initiative includes a two-year deferral of routine tax audits for companies increasing domestic investment, enhanced support for corporate and individual tax filings, and tighter safeguards to prevent double taxation, particularly for multinational firms.

AMCHAM representatives welcomed the measures, noting that such practical steps, including expanded use of Advance Pricing Arrangements (APAs), will meaningfully improve the operating environment for foreign businesses and support Korea’s efforts to attract high-quality investment.

Commissioner Lim added that he hopes today’s measures will help Korea “emerge not only as Asia’s top investment destination, but ultimately as the No. 1 investment destination worldwide.”