12. Korea

Monetary threshold for LF preparation

​ Applicable only if both of the following conditions are met:​

• Related-party transactions exceed KRW 50 billion

• Standalone revenue exceeds KRW 100 billion

Preparation deadline

• By the LF submission deadline.

Submission deadline

• Within 12 months after the end of the fiscal year.

Language

• Korean

Penalty

• Failure to submit the LF, or submission of false information, may result in a fine of up to KRW 30 million.

  • Reference: Article 21-2 of EDAAIT

  • Reference: Article 16 of AAIT