Korea has 94 tax agreements in force as reported in its response to the Peer Review questionnaire. Fifty-seven of those agreements comply with the minimum standard.
Korea signed the MLI in 2017 and deposited its instrument of ratification on 13 May 2020. The MLI entered into force for Korea on 1 September 2020. The agreements modified by the MLI come into compliance with the minimum standard once the provisions of the MLI take effect.
Korea has not listed its agreements with Albania, Belarus, Brazil and Germany, but indicated in its response to the Peer Review questionnaire that steps have been taken (other than under the MLI) to implement the minimum standard in the agreements with Albania, Belarus, Brazil, Ecuador*, Ethiopia*, Germany, Iran*, Kyrgyzstan*, Lao People’s Democratic Republic*, Myanmar*, Nepal*, and Venezuela*. Albania and Türkiye have listed their agreements with Korea under the MLI.
Korea has signed a bilateral complying instrument with respect to its agreement with Türkiye.
Korea is implementing the minimum standard through the inclusion of the preamble statement and the PPT.1