``To Plan to Delay Tax Investigation of Companies of Which Management-Labor Culture Is Excellent``

The Ministry of Labor decided to strengthen various benefits for companies where the cooperation system between managers and laborers is well established. Benefits include the delay of the tax investigation of the companies and the low interest rates for bank loan.

Minister of Labor Yoo Yong-Tae said at the first central conference of the excellent companies for their new management-labor culture, ``The government would do its best to practically support the companies of which the management-labor culture is excellent, such as the delay of the tax investigation by requesting for the cooperation of the National Tax Service (NTS).``

According to the current instructions of the NTS, the company recommended by the Minister of Labor among the excellent companies for the management-labor culture can delay the tax investigation for one year. If companies received the Presidential award or the Prime Minister award, they can delay the tax investigation for two years. However, only 6 (15 percent) out of 40 excellent companies received the benefit of tax investigation delay this year.

The excellent companies can receive loans from the National Agricultural Cooperative Federation, the National Fishery Cooperative Federation, Seoul Shinhan, Hanmi, Pyongwha, and Jaeil banks with 0.5-2 percent of loan interest rates.

The Ministry of Labor selected 40 companies for the excellent management-labor culture, including 20 big companies such as Korea Fuji Xerox, Daewoo Electronics, and DPI, and 20 small-medium size companies such as Shinho Steel, Bumwoo Bell Metalworking Industry. The Labor Ministry is to select two companies for the Presidential award, and four companies each for the Prime Minister award and the Minister of Labor award in early December.

leej@donga.com