[Alpha Biz= Paul Lee] SD Biosensor (137310), a specialist in in vitro diagnostic kits, announced on the 27th that it will receive a corporate tax refund totaling 338 billion won from the National Tax Service due to an adjustment related to excessive tax payments under the factory relocation tax incentive.
The refund results from a reduction adjustment (감액경정), an administrative correction made when tax authorities find that some taxes were over-assessed or wrongly calculated. SD Biosensor will recover 175 billion won for 2021 and 163 billion won for 2022, amounting to a total refund of 338 billion won. This sum equals nearly half of the company’s consolidated revenue of 694.6 billion won reported last year.
A company representative explained, “We became eligible for tax incentives when relocating our Suwon factory to Cheongju in 2023. We filed an amended claim late last year, which was accepted.”
SD Biosensor specializes in the field of in vitro diagnostics, focusing on immunochemical diagnostics, molecular diagnostics, point-of-care testing (POCT), and self-monitoring blood glucose systems. During the peak of the COVID-19 pandemic, its sales soared to 2.932 trillion won, establishing the company as a leader in diagnostic kits.
The company’s stock price surged intraday to 13,550 won following news of the significant tax refund and renewed attention as a beneficiary of rising COVID-19 cases in the Greater China region. As COVID-19 cases show signs of re-emergence in major Asian countries, diagnostic kit stocks are gaining momentum in the domestic market.
In particular, Thailand is seeing a rapid increase in new cases. According to the Bangkok Post, the Thai Department of Disease Control (DDC) reported approximately 33,030 confirmed COVID-19 cases between May 11 and 17, more than doubling from about 16,000 cases the previous week.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
