South Korea's National Tax Service (NTS) has introduced an Advance Pricing Agreement (APA) fast-track procedure, which provides for the expedited review of bilateral (or multilateral) APA renewal applications that are substantially similar to previously approved agreements. Under the new fast-track procedure, eligibility is evaluated through a desk review within 3 months of submission and, if accepted, the NTS will consult with the other relevant jurisdiction(s) for the case to be designated …