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Industry

Semiconductor, battery direct refund scheme in focus ahead of July tax reform plan

A proposed direct refund scheme that would pay out semiconductor and battery investment tax credits in cash has emerged as a key issue ahead of the government’s late-July tax reform plan. South Korea largely relies on corporate tax credits that only apply when companies owe tax, limiting benefits for firms in early loss-making years. Industry groups say this can delay investment and call for U.S.-style refunds. Fiscal authorities are reviewing possible revenue losses.

Industry

LG Energy Solution posts Q2 operating profit of 113.3 billion won, down 77 percent year on year

LG Energy Solution said on Tuesday it posted second-quarter revenue of 7.56 trillion won and operating profit of 113.3 billion won. Revenue rose 24.8 percent from a year earlier, while operating profit fell 77 percent. The operating profit includes the effect of U.S. Inflation Reduction Act production subsidies. The company received 241.0 billion won in tax credits in the quarter; excluding them, it would have posted an operating loss of 127.7 billion won.

Crypto

Trump says bitcoin could be added to child investment accounts; if U.S. doesn\'t, China will

U.S. President Donald Trump for the first time publicly suggested bitcoin could be included in a government child tax-advantaged investment account, though no policy has been decided. Asked at a White House event launching the “Trump Account” programme, he said it “could happen.” Bitcoin rose about 1.8 percent. The account, created under a 2025 law, provides $1,000 for eligible children and restricts withdrawals until age 18.