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Will K-CHIPS Act survive ruling bloc's defeat?

The Yoon Suk Yeol administration s efforts to support the semiconductor industry may face setbacks following the ruling People Power Party s (PPP) pulverizing defeat to the main opposition Democratic Party of Korea (DPK) in Wednesday s general election, according to industry officials and experts Friday. ....

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Korean chips act aims to extend tax cuts for local chipmakers

Korean chips act aims to extend tax cuts for local chipmakers Asia News Network (ANN) is the leading regional alliance of news titles striving to bring the region closer, through an active sharing of editorial content on happenings in the region. ....

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What Korea should do in global chips war

Oh how the pendulum swings. In his 2007 book, “Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism,” the Korean-born economist Chang Ha-joon takes to task those who have forgotten or never learned their history. The main lesson of Chang s book is that industrial promotion policies and protectionist measures helped all current developed states achieve their level of development. ....

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Lawmakers criticized for passing bill unfavorable to chipmakers

Concerns are growing over the possibility that Korean semiconductor manufacturers are losing ground against their foreign rivals, as the National Assembly passed a bill intended to limit an increase in tax benefits for domestic chipmakers. Late last Friday, the ruling and opposition parties agreed to revise the Restriction of Special Taxation Act, in order to increase the tax credit for conglomerates semiconductor facility investments to 8 percent from 6 percent, while maintaining the credits for medium-size enterprises and smaller firms at 8 percent and 16 percent, respectively. ....

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'Half-baked' Korean chips act falls short of drastic corporate tax cuts

ANN/THE KOREA HERALD – South Korea last week passed a revision bill being deemed the “Korean chips act”, expanding tax benefits for investments in the semiconductors industry. But the bill has done little to appease stakeholders in the industry, who said the increased tax cuts are too little to boost their competitiveness against other countries […] ....

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