South Korean authorities didn’t give generous subsidies to chipmakers


The interest of the national semiconductor industry in recent years in the many countries was expressed in the willingness to subsidize core projects. South Korea, the largest manufacturers of memory chips, tried to maintain a strong grip on its rivals. Upon the addition of an approved profile bill, the authorities made a lot more modest gains than it expected.

: Samsung Electronics.

As Bloomberg tells you, even at the moment when we discuss a proposal to increase profits to companies building in South Korea, their chip production became less profitable. Under pressure from the dominant opposition party in parliament, legislators passed on a more modest 8% tax deduction. The bill was sponsored by the former head of Samsung Electronics, Yang Yang-ja. The taxes in favour of the parliamentary majority reduced to a slightly lower percentage.

According to the president of South Korea, tax incentives were provided by the bill to boost South Korea’s competitive position on the world market and attract investment, but not entirely in the final version, due to opposition from the opposition party. Yoon Suk Yeol added that he’ll push for increased tax incentives for the strategically important sectors of Korean industry, and issue a corresponding instruction to the South Korean Ministry of Finance.

If you notice a mistake, please click the mouse and press S/O/T.


Leave a Comment