Extended tax deductions for new drug R&Ds

In order to foster new industries, the government decided to apply tax deduction even for expenses of Phase 3 clinical trials that are conducted in Korea.

Moreover, it also decided to raise the ‘New Industry Fostering Fund’ of KRW 1 trillion for the first time to enlarge high-risk fields, such as the new drug field.

The government held the ‘6^th Economy-Related Ministerial Meeting’ on the 28^th...