Korea Chips Act

Author: EIS Release Date: Apr 7, 2023

Korea has passed a law raising the level of tax breaks on investments in chip manufacturing by large companies from 8% to 15%.

 

The move is estimated to be worth $1.9 billion to the Korean chip industry.MIT-nanotube-RISCV-wafer

 

For SMEs the rate will be raised from 16% to 25%

 

The law is being called the ‘Korea Chips Act’ after the US and EU chip industry stimulus programmes.