South Korea will announce detailed measures to support the chip industry in June
South Korean Finance Minister Choi Sang mu said that in the coming months, after seeking more feedback from market participants, the authorities will propose detailed tax incentives in corporate reform aimed at increasing the value of listed companies. Cui Xiangmu also promised in a report that the government will continue to work hard to support the country's crucial chip industry.
Choi Sang mu stated that the South Korean government will release detailed measures to support the national semiconductor industry in June this year and continue to improve the recently announced package of support policies aimed at supporting the global competitiveness of domestic enterprises.
In May this year, South Korea announced a package of incentive measures worth 26 trillion Korean won (approximately 19 billion US dollars) to support the chip industry. South Korea stated in a statement that the 26 trillion won project includes 17 trillion won of specific investment financial support and tax incentives. South Korea plans to extend tax breaks on chip investment and increase chip research and development investment to over 5 trillion Korean won.
Choi Sang mu stated that the South Korean government will seek a balance between fairness and effectiveness in preparing tax incentives for companies participating in the Enterprise Value Enhancement Program.
Choi Sang mu said that as an export-driven economy, South Korea welcomes signs of support for establishing a tripartite free trade agreement (FTA) with China and Japan. At the recent trilateral summit, the three countries supported accelerating the pace of trilateral free trade agreement negotiations.
In May this year, South Korea announced a package of incentive measures worth 26 trillion Korean won (approximately 19 billion US dollars) to support the chip industry. South Korea stated in a statement that the 26 trillion won project includes 17 trillion won of specific investment financial support and tax incentives. South Korea plans to extend tax breaks on chip investment and increase chip research and development investment to over 5 trillion Korean won.
Choi Sang mu stated that the South Korean government will seek a balance between fairness and effectiveness in preparing tax incentives for companies participating in the Enterprise Value Enhancement Program.
Choi Sang mu said that as an export-driven economy, South Korea welcomes signs of support for establishing a tripartite free trade agreement (FTA) with China and Japan. At the recent trilateral summit, the three countries supported accelerating the pace of trilateral free trade agreement negotiations.