S.Korea seeks tax cuts for U.S. investment by firms such as Samsung

FILE PHOTO: The logo of Samsung Electronics is seen on a dish washer at its store in Seoul, South Korea, August 27, 2020. REUTERS/Kim Hong-Ji

SEOUL (Reuters) -South Korea has requested U.S. incentives such as tax deductions and support for stable electricity and water supply to ease investment by Korean firms including leading chipmaker Samsung Electronics, its presidential office said on Friday.

South Korean President Moon Jae-in, in Washington for a summit with U.S. President Joe Biden, told a gathering of U.S. Secretary of Commerce Gina Raimondo, her Korean counterpart and CEOs of Qualcomm, Samsung, and other executives that both countries can benefit by strengthening supply chain cooperation.