An infographic outlines key measures in South Korea’s 2026 tax reform plan, including a domestic production tax credit, expanded incentives for advanced energy technologies and a tax-advantaged investment account. Data from Courtesy of the Ministry of Finance and Economy. Graphic by Asia Today and translated by UPI
Aug. 3 (Asia Today) -- South Korea plans to introduce tax credits for domestic production and create a tax-advantaged investment account as part of its efforts to revive the country's potential economic growth rate.
The government will provide production-based tax credits to six strategically important sectors, including secondary batteries, semiconductors and components for artificial intelligence-powered robots, the Ministry of Finance and Economy said Monday.
The credit will be calculated by multiplying the volume of qualifying products manufactured and sold by a standard credit amount.
Only products directly manufactured and sold in South Korea by domestic taxpayers will qualify.
