South Korea plans tax breaks on domestic chip and tech investments

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South Korea said on Tuesday it plans to offer large tax breaks to semiconductor and other technology companies investing at home to strengthen its supply-chain security while boosting the economy.

Companies making capital investment at home would be given up to a 35% tax deduction which would help companies save more than 3.6 trillion won in 2024 tax payments, the finance ministry said in a statement.

 

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A good incentive to encourage investors and boost economy.

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