Gwangsan-gu Gwangju Grants Local Tax Payment Deferment to Kumho Tire Partner Companies

The front gate of Kumho Tire Gwangju Plant in Gwangsan-gu, Gwangju was quiet on the 12th. Photo by Yonhap News

On June 19, Gwangsan-gu District in Gwangju announced that it will grant a deferment of local tax payments for partner companies experiencing business difficulties due to the fire at the Kumho Tire Gwangju Plant.

The companies eligible for deferment are partner firms that have suffered damage from the suspension of plant operations or are facing the risk of bankruptcy or insolvency. The payment deadlines for reported taxes such as acquisition tax, local income tax, and resident tax (for business establishments) can be extended for up to one year. Local taxes that have already been imposed or are scheduled to be imposed can also be deferred. To apply for the deferment, companies must visit the Taxation Division 1 or 2 at Gwangsan-gu Office in person.

Park Byungkyu, head of Gwangsan-gu Office, stated, "We hope this deferment of local tax payments will help ease the financial burden on companies affected by the incident."

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