= Doing Business reform making it easier to do business.
= Doing Business reform making it more difficult to do business.
DB2013:
Protecting Investors:
Korea strengthened investor protections by making it easier to sue directors in cases of prejudicial related-party transactions.
Paying Taxes:
Korea made paying taxes less costly for companies by reducing the profit tax rate.
Resolving Insolvency:
Korea expedited the insolvency process by implementing a fast track for company rehabilitation.
Getting Electricity:
Korea made getting electricity less costly by introducing a new connection fee schedule and an installment payment system.
DB2012:
Starting a Business:
Korea made starting a business easier by introducing a new online one-stop shop, Start-Biz.
Paying Taxes:
Korea eased the administrative burden of paying taxes for firms by merging several taxes, allowing 4 labor taxes and contributions to be paid jointly and continuing to increase the use of the online tax payment system.
Enforcing Contracts:
Korea made filing a commercial case easier by introducing an electronic case filing system.
DB2011:
Resolving Insolvency:
Korea made it easier to deal with insolvency by introducing postfiling financing, granting superpriority to the repayment of loans given to companies undergoing reorganization.
DB2010:
Starting a Business:
Korea simplified the business start-up process by removing the minimum capital requirement, removing the notary role, cutting taxes, putting time limits on VAT registration and making registration payment on-line.
Paying Taxes:
Korea has reduced the burden on business by accelerating its corporate income tax reduction programme from a 5-year programme to a 3-year programme. The top rate will be cut from 25% to 20% by 2010.
DB2009:
Trading Across Borders:
Upgrading the EDI system decreased export and import time.