The National Tax Service (NTS) of South Korea has announced an extension of the corporation tax payment deadline by up to three months for approximately 100,000 companies, especially those whose sales have decreased. This move is intended to alleviate the financial burden on these companies and is expected to facilitate around 3 trillion won in liquidity support. The new deadline for these companies is now set for June 30, having been previously scheduled for March 31.

Among the companies benefiting from this extension are small and medium-sized export firms, those in the oil and petrochemical sectors, as well as companies situated in regions facing employment and industrial crises. The NTS has identified 100,000 corporations from a pool of 1.18 million that are required to file their tax returns, marking a significant increase in support compared to the previous year's 21,000 companies and 450 billion won.

Despite this extension, the NTS stresses that all companies must complete their tax filing by the end of the next month, March 31, indicating that while the payment deadline is flexible, the filing itself remains a strict requirement. This policy reflects the government's response to economic challenges faced by certain sectors, aiming to maintain business stability and safeguard jobs during difficult times.