S. Korea to boost tax incentives on battery sector
The nation s three battery makers, LG Energy Solution Ltd., Samsung SDI Co., and SK Innovation Co., vowed to invest a combined 40 trillion won over the next decade. Friday, July 9, 2021 11:50 PM UTC
South Korea s battery makers and related firms will receive up to a 50 percent tax discount for R&D spending and 20 percent tax cuts on facility investment under the Ministry of Trade, Industry, and Energy s K-battery blueprint.
The ministry aims to nearly triple battery exports from $7.5 billion in 2020 to $20 billion by 2030.
The nation s three battery makers, LG Energy Solution Ltd., Samsung SDI Co., and SK Innovation Co., vowed to invest a combined 40 trillion won over the next decade.
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