Korea Customs Service Grants 'Customs Investigation Deferral' to Job Retention and Creation Companies

[Asia Economy (Daejeon) Reporter Jeong Il-woong] The Korea Customs Service announced on the 12th that it will suspend customs investigations for one year for companies that maintain or create jobs, as well as small and medium-sized enterprises (SMEs) engaged in import and export.

The suspension of customs investigations is a system designed to support companies to focus on their business activities, meaning that customs investigations will not be conducted for one year under the condition that there are no suspicions of tax evasion.

The targets include newly established SMEs, SMEs awarded the Export Tower, top job creation companies designated by the Ministry of Employment and Labor, and exemplary taxpayers designated by the Korea Customs Service.

In particular, from this year, the Korea Customs Service has newly designated outstanding companies employing veterans, as designated by the Ministry of Patriots and Veterans Affairs, as eligible for the suspension.

Target companies can receive the benefits of customs investigation suspension without a separate application process.

However, companies that have plans to maintain or create jobs can apply to receive the customs investigation suspension.

Applications can be submitted from the 12th to the 31st of this month via the Korea Customs Service website, by visiting the Corporate Review Division of the Korea Customs Service at the Government Daejeon Complex, or by mailing the relevant documents.

A Korea Customs Service official said, “We hope that the suspension of customs investigations will revitalize SMEs during the process of phased recovery to normalcy after COVID-19.”

This content was produced with the assistance of AI translation services.