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SK Square aims to become a sustainable investment company
based on ESG management.

Tax Policy

SK Square aims to adhere to both the spirit and letter of tax laws and regulations in the countries where it operates and faithfully fulfills its tax liability stipulated in the applicable laws to contribute to its economic development. Accordingly, SK Square has defined the direction of our tax management and compliance principle to reach this goal more effectively.

Tax Management Principles

  1. 1.Tax law compliance

    SK Square complies with the spirit and the letter of all applicable tax laws and regulations of each country that pertain to our business operations and faithfully fulfills our responsibilities by accurately estimating the tax liability and timely paying all of the taxes.

  2. 2.Tax authorities cooperation

    SK Square cooperates closely with tax authorities based on mutual trust to strengthen national competitiveness through progressive revision of the tax system and related regulations and procedures. Furthermore, we monitor advanced taxation systems at home and abroad and propose amendments to the relevant tax laws to reduce the cost of cooperating with society and strengthen the rationality of the taxation system.

  3. 3.Transaction transparency

    SK Square fully discloses the tax information to stakeholders as part of the efforts to ensure transaction transparency. It also reports the taxes per item stipulated in the applicable tax laws through an independent accounting firm to protect stakeholders by appropriately applying and interpreting the relevant laws.

  4. 4.Arm’s length principle

    SK Square applies an appropriate procedure and reasonable price to all related-party transactions. Likewise, SK Square sustains the business and investment structure by complying with all relevant tax laws and regulations and the arm’s length principles to prevent transfer pricing issues.

  5. 5.International trade obligations enforcement

    SK Square is faithfully fulfilling its tax obligations in international transactions. SK Square will not conduct transactions solely for tax avoidance by utilizing taxation structures without commercial substance, such as transferring profits to countries with low tax rates or operating in a tax haven.

Compliance Principles

  1. 1.Risk management

    • SK Square identifies compliance with tax-related laws and principles as the top priority of tax risk management to prevent tax risks that may arise from business activities.
    • To manage tax risks, SK Square establishes and amends the tax policy based on the review and approval of the ESG Committee under the Board of Directors.
  2. 2.Organization

    SK Square has a tax department within its organization which monitors and prevents any tax compliance risks that can arise in the process of business pursuit. The tax management department assesses and manages all types of tax risks, and fully mobilizes both internal and external expertise and resources to ensure compliance.

  3. 3.Process

    For compliance within rigorous tax risk assessment and management both home and abroad, SK Square has introduced a tax compliance process as the following:

    • Document and file all tax report data, supporting evidence, major tax management data
    • Incorporate all the revisions of tax laws into the Company’s tax compliance scheme and implement the changes
    • Monitor risks by analyzing internal/external business environment, business structures and transactions
    • Analyze financial/non-financial impact of risks
    • Collect experts’ opinions on material issues when necessary and make the final decision based on them