Recently, the Strategy and Finance Committee of the National Assembly passed a special bill for the semiconductor industry at its subcommittee meeting.
In addition to this, the companies in the industry gratified the news. The next action would be a plenary session that going to be scheduled soon, probably this month. While they are waiting for another bill to be passed.
Moving ahead, as per the K-Chips Act, a tax credit of 15 percent will be practiced for big companies in the industry. While 25 percent for small companies. Noticeably, the current tax credit rates are 8 percent and 16 percent respectively.
Apparently, the act is predicted to have an alliance with large-scale investment plans in the sector. For instance, Samsung Electronics disclosed on March 15 that it would construct the world’s biggest nonmemory chip cluster in Yongin. This is by investing 300 trillion won.