S. Korea to provide tax credits to companies helping to reduce carbon emissions

내년부터 탄소저감기술 투자 기업에 최고 12% 세액공제 혜택South Korea is reviewing its plan to provide tax credits to companies trying to reduce their carbon footprint.The Ministry of Economy and Finance said on Monday that it is planning to give deductions on income tax and corporation tax for investments made to help reduce carbon emissions.The plan allows a tax credit of 3-percent for large enterprises, 5-percent for medium-sized companies, and 12-percent for small businesses.This is part of the government's efforts to make South Korea carbon neutral by 2050.The new plan will be reviewed in December and could be passed early next year.