Lee Jae Myung: "Up to 10% Production Tax Credit for Semiconductors Produced and Sold Domestically"

"Swift Enactment of the Special Semiconductor Law... Support for Production and Development"
"Establishment of RE100 Infrastructure and Rapid Creation of Cluster"

Lee Jae Myung, the Democratic Party presidential candidate, stated on April 28, "We will provide semiconductor companies with up to a 10% production tax credit for semiconductors produced and sold domestically, thereby strengthening their competitiveness."

On this day, through his Facebook page, Lee pledged to strengthen tax benefits in the semiconductor sector, emphasizing, "Semiconductors are a representative capital-intensive industry, requiring enormous investment costs, and once a gap emerges, it is difficult to catch up." He also announced plans to support semiconductor companies returning to Korea, aiming to reinforce the supply chain ecosystem.

He also promised the swift enactment of a special semiconductor law. Lee stressed, "The United States, Japan, and the European Union (EU) are competitively announcing semiconductor support policies," and added, "National-level support and investment are essential to expand semiconductor competitiveness." He further stated, "Our special semiconductor law failed to pass the National Assembly due to the ruling party's obstruction," and pledged, "By enacting the special semiconductor law, we will enable companies to focus on semiconductor development and production."

He also mentioned the establishment of semiconductor RE100 (renewable energy) infrastructure and the rapid creation of the Yongin Semiconductor Cluster. Lee explained, "Last year, the Institute for Energy Economics and Financial Analysis (IEEFA) in the United States warned that Korea's lack of renewable energy could undermine its semiconductor competitiveness," and stated, "We will complete the West Coast Energy Expressway by 2030 to support semiconductor companies in achieving RE100."

Lee Jae Myung, the Democratic Party presidential primary candidate, is delivering an acceptance speech on the afternoon of the 27th at Kintex in Goyang, Gyeonggi Province, attending the joint speech event for the selection of the 21st presidential election candidate of the Democratic Party for the Seoul metropolitan area, Gangwon, and Jeju regions. 2025.04.27 Photo by National Assembly Press Photographers Group

He also plans to foster high-level talent. Lee stated, "We will fully support semiconductor research and development (R&D) and talent cultivation to secure overwhelmingly superior technologies," and added, "In addition to memory semiconductors, where Korea holds an advantage, we will establish R&D support and early infrastructure for nurturing advanced talent, such as semiconductor graduate schools, to enhance competitiveness in system semiconductors and foundries."

Lee emphasized that, as global competition for supremacy in the semiconductor sector intensifies, government-level support measures are essential. He stated, "Right now, semiconductors, which have been the key engine of Korea's economic growth, are facing a crisis," and added, "With the intensifying competition in artificial intelligence (AI) semiconductors and global supply chain risks,

we are surrounded by double and triple crises."

Quoting Andy Grove, the late founder and former CEO of Intel, who is considered a legend in the semiconductor industry, Lee said, "When a crisis strikes, bad companies fail, good companies survive, but great companies become even greater," and stressed, "We will make Korea a great semiconductor powerhouse. From now on, this is the real Korea."