(MENAFN) Data showed that South Korea's firms and individuals have invested a total of USD23 billion in 50 tax havens throughout the past seven years, The Peninsula Qatar reported.
South Korean individuals and companies invested around USD22.77 billion in the tax havens from 2007 through 2013, data by the National Tax Service and the Export-Import Bank of Korea revealed.
The total amount invested accounts for about 12 percent of overall overseas investments made by South Korea worth about USD189.4 billion during the cited period.
Of the total tax haven investments, 79.6 percent were paid by giant local companies, while 9.6 percent were made by small and middle-sized local firms, data showed.
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