"South Korea Prepares to Enforce Global Minimum Corporate Tax"
South Korea is poised to adopt a global minimum corporate tax rate of 15% for multinational companies, following the passage of new rules by the National Assembly. This move aligns with the OECD's Base Erosion and Profit Shifting 2.0 Pillar Two agreement, which aims to curb tax avoidance and harmonize tax practices worldwide. The change is expected to impact around 200 multinational firms in South Korea and is part of a broader international effort to address tax challenges in the digital and global economy.