SEOUL (Reuters) – South Korea said on Tuesday it would 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 and the steps would help save companies more than 3.6 trillion won ($2.82 billion) in their 2024 tax payment, the finance ministry said in a statement.
($1 = 1,276.1200 won)
(Reporting by Choonsik Yoo; editing by Christian Schmollinger)
