S. Korean gov't to strengthen tax support to enhance development of 5G technology
  • 3 years ago
내년부터 5G 확산 위한 세제 지원…탄소중립도 본격 추진

Also taking up a huge part of its 2021 economic policy plan is South Korea's focus on 5G.
The government will offer tax breaks to boost system semiconductors, future cars and bio health... AND to achieve carbon neutrality by 2050.
Here's Kim Jae-hee with the details.
South Korea will also strengthen tax support to enhance 5th generation technology development.
"We will invest a total of 12-point-7 trillion Korean won, or some 11-point-6 billion U.S. dollars next year for digital New Deal projects, focused on Data, Network, and AI. We will expand tax deductions for investments in new technology, such as 5G and advanced semiconductors."
Special tax deductions will be applied to 5G facility investments starting February next year,... such as acquisition and construction costs for 5G base stations.
The government will expand the rate for large corporations from the current 1-percent to 3 percent and from 3 to 5 percent for medium enterprises and from 10 to 12 percent for small businesses.
System semi conductors, future mobility, and bio-health - or the "Big Three" industries will now take front and center of South Korea's manufacturing industry as the nation plans to fully nurture them.
An additional 7-thousand-500 electric vehicle chargers will be built by 2025, and the number of hydrogen charging stations in the capital area will be expanded to 53.
The government will also create a 45 million dollar-fund to foster semiconductors.
Seoul's finance ministry also laid out a blueprint to meet its 2050 carbon neutrality goal.
"To accelerate the Green New Deal, we will invest a total of 12 billion U.S. dollars, in green infrastructure, green energy, and green industries."
The finance ministry will focus on tackling the dwindling population and low fertility rate, as one of its main long-term challenges,... and provide customized support for essential workers.
Kim Jae-hee, Arirang News.
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