South Korea urges OECD for more talks on global tax deal

South Korea’s Industry Minister Moon Sung-wook has requested the chief of the Organisation for Economic Cooperation and Development (OECD) to initiate more discussions on the global tax deal. The South Korean official said additional talks would prevent exports from shouldering an excessive burden. The request comes four months after the OECD announced that 136 nations had agreed to adopt a 15% global minimum corporate tax starting in 2023. Moon said the nations involved need to have more discussions amid concerns over the deal’s impact on the country’s major exports. OECD Secretary-General Mathias Cormann said related discussions will continue to make the deal take effect next year as planned.