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Economy

Ethical management, the basis for continuous growth and development

“ SK ie technology is dedicated to being a trusted company that creates value for our diverse stakeholders and to help create a better world based on SKMS as its management philosophy. ”

Tax Strategy

SK ie technology Co., Ltd. (“SKIET”), in order to continue its stability and growth, create value for its stakeholders, play a critical role in social and economic development, and further, contribute to the happiness of mankind, deems it its ‘core value’ to perform its obligations to file tax returns and pay taxes in good faith under the law and evaluate and manage various tax risks which can occur in the process of its business activities.

  • 01
    SKIET files tax returns and pays taxes in good faith, not only under the law of Korea but under those of various countries where it engages in business activities, and performs, in good faith, its obligations under the law as a taxpayer, including the submission of relevant materials, in transparent relations with individual countries’ tax authorities.
  • 02
    SKIET complies with domestic/overseas laws by evaluating and managing all tax risks which can occur from its business activities including strengthening the competitiveness of existing businesses, reorganizing its businesses, and pursuing global growth and investment. During the evaluation and management of tax risks, if necessary, SKIET makes final decisions based on consultation with domestic/overseas tax experts and law-enforcing (executive) and -legislating (legislative) authorities.
  • 03
    In transactions with its related parties, SKIET adopts the principle of arm’s length transactions under OECD’s Transfer Pricing Guidelines and individual countries’ laws, and as regards transfer pricing transactions with its overseas-related parties, prepares transfer pricing reports with outside tax experts and manages the progress of the transactions.
  • 04
    SKIET’s employees handling its tax matters perform their job based on the principle of performing, in good faith, SKIET’s obligation to file tax returns and pay taxes under applicable laws and maintain transparent relations with tax authorities.
  • 05
    We do not conduct transactions or contracts that transfer income between countries to take advantage of differences between different countries’ tax laws or loopholes in international tax systems. Furthermore, we allocate taxable income in a manner that is consistent with the value generated through business activities in each country.
  • 06
    We do not use both tax structure and tax haven that unfairly reduces our tax burden by taking advantage of differences between tax laws and tax treaties, loopholes, special tax treatment, or other flaws. We faithfully fulfill our duties to pay taxes on international transactions through a normal tax structure.