Lee Jae-myung, the Democratic Party of Korea presidential candidate, announced pledges to support the semiconductor industry. It is the first pledge he introduced after being elected as the party's presidential candidate. He promised to swiftly enact the Semiconductor Special Act pending in the National Assembly and to increase tax benefits for corporations in the semiconductor sector.

Lee Jae-myung, the candidate for the Democratic Party of Korea in the 21st presidential election, attends a joint speech event held at KINTEX in Goyang, Gyeonggi Province on Jun. 27, after being elected as the final candidate and greets before his acceptance speech./Courtesy of News1

The candidate noted on Facebook on the 28th, "Today, global economic hegemony depends on who controls semiconductors," adding that for us, "to protect semiconductors" means "to protect our future."

The candidate presented pledges for the semiconductor industry, including: ▲swift enactment of the Semiconductor Special Act ▲expansion of tax benefits for semiconductors ▲establishment of infrastructure for semiconductor RE100 ▲rapid creation of the Yongin semiconductor cluster ▲support for nurturing talent in research and development (R&D) in the semiconductor field.

The candidate stated, "To expand semiconductor competitiveness, national-level support and investment are essential, but our Semiconductor Special Act has not passed through the National Assembly due to the government's and ruling party's stubbornness," and added, "I will make sure that corporations can focus on semiconductor development and production by enacting the Semiconductor Special Act."

He emphasized, "We will apply a maximum 10% production tax credit for semiconductors produced and sold domestically, thereby empowering semiconductor corporations," adding that he would support the return of semiconductor corporations to South Korea to strengthen the supply chain ecosystem.

The candidate also stated, "We will hasten the establishment of the Yongin semiconductor cluster to create a smart green semiconductor complex that we can proudly present to the world," and said, "To enhance competitiveness in system semiconductors and foundries, I will establish R&D support and graduate programs in semiconductors to nurture advanced talent at an early stage."

On the afternoon of the first day as the party's presidential candidate, the candidate will visit the SK hynix Icheon campus to hold a "K-semiconductor AI memory semiconductor corporation meeting." He is expected to meet with Kwak Noh-jung, president of SK hynix, to discuss support measures for the semiconductor industry.