This excerpt taken from the LPL 20-F filed Jun 23, 2009.
Income Tax Expense
Income tax expense decreased from (Won)208.9 billion in 2007 to (Won)168.0 billion (US$133.1 million) in 2008. Our effective income tax rate was 13.4% and 15.7% in 2007 and 2008, respectively. The increase in the effective tax rate was mainly the effect of the non-deductible nature of the (Won)534.8 billion antitrust fine in 2008 and deferred tax asset valuation allowance reversal of (Won)159.5 billion in 2007, both of which contributed to a significantly higher effective tax rate in 2008 as compared with 2007, which effects were offset in large part by a (Won)213.1 billion increase in income tax credits in 2008.