Country Report
South Korea upstream fiscal summary
This report is currently unavailable
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Upstream licences are awarded under concession terms which are fixed by legislation. Royalty is paid on a sliding scale ranging from 0% to 12%. General corporate income tax is paid on a sliding scale depending on total taxable income, ranging from 11% to 27.5%. Korean National Oil Company (KNOC) explores both on a sole-risk basis and with third parties. To date there have been no competitive bid rounds.
Table of contents
- Basis
- License terms
- Government equity participation
-
Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Ring fencing
- Base
- Rate
- Payment schedule
- Corporate income tax
- 7 more item(s)...
- Recent history of fiscal changes
- Stability provisions
- Split of the barrel and share of profit
- Effective royalty rate and maximum government share
- Progressivity
- Fiscal deterrence
Tables and charts
This report includes the following images and tables:
- Timeline
- Timeline details
- Split of the barrel - oil
- Split of the barrel - gas
- Share of profit - oil
- Share of profit - gas
- Effective royalty rate - onshore, shelf and deepwater, oil and gas
- Maximum government share - onshore, shelf and deepwater, oil and gas
- State share versus Pre-Share IRR - oil
- State share versus Pre-Share IRR - gas
- Investor IRR versus Pre-Share IRR - oil
- Investor IRR versus Pre-Share IRR - gas
- 6 more item(s)...
What's included
This report contains:
Other reports you may be interested in
Country Report
South Korea upstream summary
The only producing assets ceased production in 2021.
$4,080
Asset Report
PETRONAS FLNG 2 - commercial overview
The SB H block in deepwater Sabah contains four gas fields that will be developed as part of the first phase of a Floating LNG (FLNG) ...
$2,700
Country Report
China upstream summary slides
To complement our more detailed China upstream summary we provide a slide-pack of the key issues in China.
$5,700
