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Finance

Overdue debt collection practices to change after tax breaks on written-off loans

South Korea\'s financial regulators plan to curb the practice of financial companies repeatedly extending the statute of limitations on overdue loans while continuing collection efforts after receiving tax benefits. Under revised rules, firms will need to let the statute of limitations run its course when it first comes due to have personal overdue loans recognised as losses. The changes also tighten requirements for selling such debts, introduce reporting and disclosure systems, and revise related guidelines and supervision rules.

Finance

Interest in children\'s accounts grows, from ETF futures to tax-saving strategies

Rising stock markets and demand for children’s financial education are driving rapid growth in investment accounts opened in minors’ names, with products expanding beyond traditional savings to ETFs, funds, pension savings accounts and gold. Securities firms data show sharp increases in new accounts, while average balances and new-account investment amounts have fallen in some age groups. The article outlines popular ETF options, gift-tax deductions, reporting deadlines, and tax considerations for overseas stocks, ETFs, pension accounts and gold trading accounts.

People & Appointments

Douzone Bizon draws about 6,000 applicants for income tax filing training tour

Douzone Bizon said on April 24 that about 6,000 tax practitioners have applied for its \"2026 comprehensive income tax filing training\" being held in 13 cities nationwide. The training, which began on April 22, runs through April 30 in key hub cities across the country, with some locations closing early during advance registration. The sessions use its WEHAGO T AI Edition platform to cover practical filing know-how.