Semiconductor Association: "The Semiconductor Act Exempting the 52-Hour Workweek Must Be Promptly Passed in the National Assembly"

Statement Issued on the 20th, Urging Passage in the National Assembly
"Systematic Support and Foundation Are Urgently Needed"

The semiconductor industry issued a statement on the 20th urging the National Assembly to pass the Semiconductor Special Act, which includes exceptions to the 52-hour workweek.

National Assembly plenary session. Photo by Yoon Dong-joo doso7@

The Korea Semiconductor Industry Association stated, "We earnestly request that the Semiconductor Special Act, which includes support for investment activation such as the establishment of national-level semiconductor infrastructure, support for advanced semiconductor research and development (R&D) and strengthening of the semiconductor ecosystem, and relaxation of the 52-hour workweek system, be smoothly negotiated and passed in the National Assembly."

It added, "We expected that the enactment of the Semiconductor Special Act and the revision of the Restriction of Special Taxation Act, which were discussed in the National Assembly last year, would be a groundbreaking turning point to strengthen the competitiveness of the Korean semiconductor industry," and evaluated, "The recent passage of the revised Restriction of Special Taxation Act through the National Assembly's standing committee is a very meaningful achievement."

It emphasized, "Considering the current reality faced by the semiconductor industry, not only the expansion of tax credits but also comprehensive and systematic national-level support and the establishment of a legal foundation across the entire semiconductor industry are urgently needed."

On the 18th, the National Assembly's Planning and Finance Committee reviewed and approved a revision to the Restriction of Special Taxation Act, which mainly raises the integrated investment tax credit rate for semiconductor companies by 5 percentage points (p) from the current rate.

However, the Semiconductor Special Act failed to pass the subcommittee of the standing committee because the ruling and opposition parties could not narrow their differences over whether to include exceptions to the 52-hour workweek labor system in the act.

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