South Korean Prime Minister Urges Efforts for National Assembly Approval to Support Semiconductor Industry's Super-Gap

Semiconductor Tax Benefit Bill Submitted
Contraction Due to Global Complex Crisis Impact
Investment Sentiment Recovery Supports Super-Gap

[Asia Economy Reporter Koo Chae-eun] On the 17th, Prime Minister Han Duck-soo presented a semiconductor tax benefit bill at the Cabinet meeting, stating that it is "to restore investment sentiment weakened by the global complex crisis and to support the future semiconductor industry's super-gap."

Prime Minister Han said, "I hope the relevant ministries will pay special attention to ensure that the bills approved today can pass the National Assembly promptly."

[Image source=Yonhap News]

He also mentioned, "The government has been striving to overcome the current crisis and, in the mid to long term, to raise the potential growth rate of our economy," citing as an example the legislative amendments rationalizing economic penalty provisions announced at the 1st Regulatory Innovation Strategy Meeting (a total of 14 bills including the amendment to the City Gas Business Act).

Prime Minister Han emphasized, "In the new year, to allow the private sector to fully experience the results of regulatory innovation, the government will focus more on creating practical and concrete changes."

Regarding the Lunar New Year holiday, he urged, "Relevant ministries should make every effort to prevent various safety accidents and ensure smooth transportation."

Prime Minister Han said, "As the holiday approaches, the difficulties and loneliness felt by vulnerable groups such as low-income families and elderly living alone may increase. Cabinet members and public officials are encouraged to visit welfare facilities and sites of public livelihood to carefully attend to the hardships of vulnerable groups."

This content was produced with the assistance of AI translation services.