[2025년 경제정책방향]
Government strengthens support for exports and semiconductor industry
Providing emergency liquidity to exporters
Establishment of a support system for petrochemical business reorganization
With the export growth rate expected to be only around 1% this year, the government will provide trade finance worth 360 trillion won, the largest ever, to support exports. It was decided to increase the ‘national strategic technology investment tax credit rate’ by 5 percentage points, which reduces corporate tax by the amount spent by semiconductor companies on investment. The plan is to strengthen support for exports and the semiconductor industry, which are the backbone of the Korean economy, in order to maintain a growth rate of at least 1%.
In the ‘2025 Economic Policy Direction’ announced on the 2nd, the government announced that it would provide trade finance worth 360 trillion won, 5 trillion won more than last year, to export companies. An official from the Ministry of Strategy and Finance explained the background, saying, “This is because the export environment may become difficult this year.” In particular, for very large orders, the size of special program support will be increased by 10 trillion won to 95 trillion won.
An emergency liquidity supply program will also be established to minimize damage to exporting small and medium-sized companies due to changes in the trade environment. Depending on the industry, the loan limit will be expanded by up to 10% and the loan interest rate will be reduced by up to 1.2% points. For exporting small and medium-sized enterprises whose exports account for more than 50% of total sales, the tax payment deadline will be extended and the ‘tax support package’, which excludes them from tax audits, will also be extended by one year. We are also working to diversify export items and regions. The government has decided to provide more preferential financial support to those who diversify their products or regions into new businesses, including artificial intelligence (AI) and biotechnology, and the Global South (emerging and developing countries in the Southern Hemisphere).
We plan to establish a rapid business reorganization support system for the petrochemical industry, which has recently been experiencing a recession. The business reorganization review period under the Special Act on Corporate Vitality Enhancement is shortened from a maximum of 120 days to 90 days. It was decided to make the public-private joint petrochemical industry consultative body, launched in April last year, permanent to continuously discuss ways to strengthen competitiveness, including business reorganization.
Support for key industries will also be strengthened. The government is pushing for a plan to increase the national strategic technology investment tax credit rate for semiconductor companies by 5 percentage points this year. Currently, a tax credit rate of 15% is applied to large and medium-sized companies and 25% to small and medium-sized companies, but if the bill passes the National Assembly, it will be increased to 20% and 30%, respectively. Companies that receive MRO (maintenance, repair, and overhaul) orders for ships such as warships will receive a discount of up to 20% on trade insurance guarantee fees and a preferential interest rate of up to 1.2% points. With the inauguration of Donald Trump’s second term in the US administration, the possibility of cooperation between Korea and the US in the shipbuilding industry has increased. To promote corporate investment, facility investment funds of 55 trillion won, the largest ever, will be provided.
Sejong = Reporter Kim Soo-hyun [email protected]
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