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Telecommunications & Media

Netflix wins South Korea corporate tax suit, 68.7 billion won of 76.2 billion won cancelled

Netflix\'s South Korean unit effectively won a corporate tax lawsuit against tax authorities after a court ruled payments to its Dutch unit were compensation for services rather than copyright royalties. The Seoul Administrative Court ordered the cancellation of 68.7 billion won of the 76.2 billion won assessed. The case stemmed from a 2021 tax audit. Netflix had sought full cancellation of the remaining assessed tax in a suit filed in November 2023.

Games & Commerce

Korea Post says users can find unclaimed national tax refunds on post office banking app

Korea Post said users will be able to check unclaimed national tax refunds through its post office mobile banking app. The Ministry of Science and ICT’s Postal Service said it will provide the service via Itda Banking from April 28. The “Find National Tax Refunds” function lets users view refunds that have been approved but not claimed, and check the status of unclaimed refunds from the past five years. It also links to the mobile web version of the National Tax Service’s Hometax for payouts.

Crypto

Juniper Research sees cross-border B2B stablecoin payments reaching $5 trillion by 2035

Cross-border business-to-business stablecoin payments could reach $5 trillion by 2035, according to a Juniper Research report cited by CoinDesk. Juniper expects the market to expand 373-fold from an estimated 13.4 this year, and said 85 percent of total stablecoin transaction value in 2035 could come from B2B activity. It said stablecoins are being integrated into cross-border trade, treasury operations and supply-chain settlement.