The Korean government has said it will relax the rules for exporters claiming tax relief on letter of credit (L/C) transactions. Exporters will be given an extra 20 days at the close of each tax period (end-June or end-December) to produce the relevant L/C documentation. The Korean Chamber of Commerce and Industry has long been lobbying the tax authorities to extend the length of time allowed for exporters to produce evidence of L/C transactions eligible for tax relief.