Drug makers seek more tax exemptions for R&D spending

The Korea Pharmaceutical Manufacturers Association (KPMA) will seek to expand tax exemptions for corporate investment in research and development (R&D) as part of efforts to stimulate pharmaceutical companies' R&D spending in the era of free trade agreements (FTAs).

Currently, pharmaceutical companies here are given a tax credit of up to 3 percent for their R&D investment portions, which the...