The Korean government has announced some specifics of the measures it is taking to prop up the country’s OLED industry (Korea Offers Tax Benefits as OLED Incentive).
On the 11th November Yoon Sang-jick – Korea’s minister of trade, industry and energy – said that the new measures are focused around boosting exports. He announced that local exporters of OLED products will be exempt from tarrifs on imported OLED manufacturing equipment. In addition, these companies will pay 20% less tax on R&D investments in OLED products.
The Korean government will also raise the discount rates of trade insurance premiums for small- and mid-sized companies with an export background – by as much as 50%, in some cases.