South Korea proposes chip industry tax breaks

Could save chip-makers nearly $3 billion next year

clock • 2 min read
South Korea proposes bigger tax breaks to strengthen domestic chip industry
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South Korea proposes bigger tax breaks to strengthen domestic chip industry

The South Korean government plans to offer significant tax benefits to chip firms and other technology companies that invest locally, in an effort to strengthen domestic supply chains and boost the country's crucial semiconductor industry.

According to a statement from the Ministry of Economy and Finance (MEF), the proposed changes will see big firms get a tax credit of 15% on investments in manufacturing facilities, up from the plan...

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