Korea to introduce new tax incentives for OLED businesses to attract new investments

The Korean government plans to add new tax incentives for strategic technologies, increasing the tax deduction possible to 40-50% for small and medium-sized companies, and 30-40% for large businesses. Korea's display sector is already protected as a strategic industry - and last year the government added OLED specifically as a national strategic technology.

Korea's Finance Ministry announced it plans to add tax incentives worth up to $711 million per year, as it hopes to attract more investment into new growth drivers and boost the local economy.