On 28 April 2016, Korea's Ministry of Strategy and Finance published a press release on the government's plans to support industrial restructuring, which includes incentives for research and development (R&D) and other support measures. The plans include:
- Up to 30% tax reduction for R&D investment in new growth engines;
- Up to 10% tax reduction for facilities investment to commercialize new technologies;
- Expanded tax reduction for R&D investment in new medicines;
- Expanded support …