
The Ministry of Finance and Economy announced that Deputy Prime Minister and Minister of Finance and Economy Lee Hyung-il held a meeting on economic issues on the 25th to discuss ways to supplement the domestic production tax credit and implement three core social policies.
AI-generated summary
In the tax reform plan in August, the government announced the establishment of a new domestic production tax credit based on domestic production.
(Sejong = Yonhap News) Reporter Kim Soo-hyun = Deputy Prime Minister and Minister of Finance and Economy Lee Hyung-il held a meeting on economic issues on the 25th and discussed ways to supplement the domestic production tax credit and ways to promote three core social policies, the Ministry of Finance and Economy announced.
The meeting was attended by Minister of Trade, Industry and Energy Kim Jeong-kwan, Minister of Climate, Energy and Environment Kim Seong-hwan, Minister of SMEs and Startups Lee So-young, Minister of Planning and Budget Park Hong-geun, Financial Services Commission Chairman Eok-won Lee, Senior Secretary for Economic Growth Shin Moon-hak, and Financial Planning Advisor Ryu Deok-hyeon.
In the tax reform plan announced in August, the government decided to establish a new domestic production tax credit that reduces taxes based on domestic production.
However, while only solar power generation, wind power generation, secondary batteries, semiconductors, core materials, and artificial intelligence (AI) robot parts are included in the application target, there is a strong demand to expand the domestic production tax credit, focusing on excluded industries such as the electric vehicle industry.
The three core social policies are policies that the government is focusing on to reduce polarization and inequality, including housing, jobs, and microfinance.
Based on today's discussion, the Ministry of Finance and Economy plans to finalize government policy through additional inter-ministerial discussions and collection of opinions from all walks of life.
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