Kim Dong-yeon Visits Samsung Pyeongtaek Campus, Calls for Tax Support on Investment and R&D

Gyeonggi Province Governor Kim Dong-yeon visited Samsung Electronics' Pyeongtaek Campus on the 12th and promised full support.

Governor Kim held an on-site meeting at Samsung Electronics' Pyeongtaek Campus in Godeok-dong, Pyeongtaek City, with Kim Yong-kwan, President of Samsung Electronics' Management Strategy, Nam Seok-woo, President of Foundry, Park Seung-hee, President of External Cooperation, Jeong Jang-seon, Mayor of Pyeongtaek, Gyeonggi Provincial Assembly member Kim Sang-gon, Cha Seok-won, Director of the Next Generation Convergence Technology Research Institute, and others.

At the meeting, Governor Kim said, "I came to lend support for the future of the semiconductor industry," adding, "Last November, I visited semiconductor equipment companies in the Netherlands and had discussions with the CEOs of ASM and ASML about the future of the global semiconductor industry and various industrial policies in Korea. We are also making extraordinary efforts regarding the Semiconductor Special Act."

Gyeonggi Province Governor Kim Dong-yeon is holding a meeting at Samsung Electronics Pyeongtaek Campus on the 12th. Provided by Gyeonggi Province

He continued, "Previously, when I spoke about the government's fiscal policy, I was the first to advocate for supplementary budget allocation, which included support for vulnerable groups as well as support for Korea's future growth engines and a shift in industrial policy," and introduced, "Compared to many countries that provide direct government support or tax incentives for investment and R&D, Korea has not been doing so at all, and I have urged policies to address this."

He added, "Along with Samsung and other semiconductor companies, including the construction of the mega cluster, we will do our best to provide support and attention wherever possible," emphasizing, "We will do our utmost to ensure that the semiconductor industry, which is the core of future growth engines, can lead the Korean economy."

After the meeting, Governor Kim toured the semiconductor fab production line and had a communication session with young employees, including semiconductor process and equipment engineers at Samsung Electronics.

Gyeonggi Province is promoting the creation of the world's largest semiconductor mega cluster as the mecca of Korea's semiconductor industry. It is also working with the National Assembly to enact the Semiconductor Special Act, which includes designation of an advanced semiconductor special zone, support for R&D of small and medium-sized enterprises, establishment of a semiconductor fund, and training of specialized personnel. Gyeonggi Province expects that the enactment of the Semiconductor Special Act will enable the rapid establishment of the world's largest semiconductor cluster and lead the semiconductor industry.