E-invoicing compliance and regulatory updates - South Korea

Electronic Invoicing in South Korea

Is e-invoicing mandatory in South Korea ?

Yes. E-invoicing is mandatory in South Korea for corporate entities and individuals whose annual supply value exceeds specified thresholds.

Who is affected?

All businesses that meet the threshold requirements or operate as corporate entities must comply with the e-invoicing mandate for domestic transactions.

Compliance requirements

For domestic transactions, businesses must:

• Register with the National Tax Services (NTS)
• Obtain a “standard authentication” from the National IT Industry Promotion Agency (NIPA)
• Digitally sign e-invoices using a PKI electronic signature
• Report invoices to the NTS portal in XML format

Want to learn more about e-Invoicing compliance?

Download our Global e-invoicing and Tax Compliance fact sheet here for more information.

Key Deadlines 

• No upcoming deadlines

Standards & Platforms  

Platform

In South-Korea, e-invoices must be reported to the National Tax Services (NTS) e-Tax portal.

What formats are required in South Korea?

Invoices must be submitted to the NTS portal in XML format, following local technical requirements.  

Archiving in South Korea  

What are the archiving requirements in South Korea?

All records must be kept for a minimum period of 5 years after the end of the issuing fiscal year.

Legal invoice

• For suppliers: A legal invoice is the e-invoice created and digitally signed with a PKI certificate, then reported to the NTS platform.
• For buyers: A legal invoice is the e-invoice received from the supplier, which has been reported through the NTS.

Want to know more about Basware’s archiving services?

Download our Basware Vault fact sheet here to learn more about our flexible and scalable solution.

Key Actions  

• Ensure compliance – by registering with the NTS and obtaining authentication from NIPA.
• Issue and report e-invoices – in XML format, signed with a valid PKI certificate.
• Comply with timelines – e-invoices must be issued within 15 days after delivery of goods/services or receipt of payment.

South Korean e-invoicing and archiving requirements at a glance:

Supplier requirement: Suppliers must issue e-invoices in XML format, digitally sign them using a PKI certificate, and report them to the National Tax Services (NTS) portal either within one day of issuance or monthly in a summary format.

Buyer requirement: Buyers must receive e-invoices that have been reported to the NTS and ensure they meet the digital signature and reporting requirements.

Archiving requirement: Invoices must be archived for at least five years. Archived records must maintain readability, integrity, and authenticity throughout the retention period.