Countless countries across the globe have introduced advantageous tax regimes to attract skilled foreign workers in an effort to combat the economic impact of the Covid 19 pandemic and South Korea is no exception.
South Korea is not a place that immediately comes to mind when considering freelancing or contracting abroad, however maybe that would change if you were to consider the fact that foreign executives and employees can now benefit from a flat income rate of 19% for five years. Anyone interested in profiting from this regime has until the end of 2023 to submit their application.
It is hoped that the regime will attract persons who are skilled in Science, technology, medical and engineering fields.
Whilst its Northern counterpart has a somewhat negative reputation internationally South Korea is a developed country and a member of many well-known international organisations. Its countryside has a lot to offer those of us who are more adventurous travellers, whilst its economy has seen huge development especially recently in music and cinema which has become so globally popular that it has coined the phrase the Korean Wave.x