Display Association "Welcomes Designation of Display as National Strategic Technology"

[Asia Economy Reporter Kwangho Lee] The Korea Display Industry Association expressed its welcome on the 18th regarding the designation of five core display technologies as national strategic technologies.

In a statement, the Display Industry Association said, "The panel and materials, parts, and equipment (SoBuJang) technologies, which are the most essential in displays, have been designated as national strategic technologies," adding, "As a result, not only large corporations but also numerous small and medium-sized enterprises (SMEs) and mid-sized companies will be able to receive higher tax credits for research and development (R&D) and facility investments."

It further stated, "In particular, by including the components that make up display equipment as national strategic technologies, it is expected to promote technology development for equipment components and contribute to the stabilization of the ecosystem."

The association also added, "We request the support of the government and the National Assembly to expedite the legislative process for the amendment of the Restriction of Special Taxation Act, which raises the tax credit rate for facility investments."

On the same day, the Ministry of Economy and Finance announced the '2022 Tax Reform Follow-up Enforcement Decree Amendment,' which includes the designation of organic light-emitting diode (OLED), micro light-emitting diode (LED), and quantum dot (QD) technologies as national strategic technologies.

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