South Korea plans bigger tax incentive to boost chip investment

South Korea plans to introduce larger tax relief to boost investment in its semiconductor industry, with a tax break as high as 25% for big chip companies, according to a scheme announced by the government on January 3.

The scheme, subject to approval by parliament, is expected to reduce the tax burden on companies by 3.65 trillion won (2.Asian Metal Copyright65 trillion won 2.Asian Metal Copyright87 billion US dollars) in 2024, with a further reduction of RMB1.Asian Metal CopyrightSouth Korea plans to introduce larger tax relief to boost investment in its semiconductor industry, with a tax break as high as 25% for big chip companies, according to a scheme announced by the government on January 3.Asian Metal Copyright37 trillion (1.Asian Metal Copyright37 trillion 1.Asian Metal Copyright08 billion US dollars) each in 2025 and 2026.

.Asian Metal Copyright The scheme, subject to approval by parliament, is expected to reduce the tax burden on companies by 3Asian Metal Copyright