South Korea refers to the increase in resource tax rate will increase the pressure on LED companies

Recently, South Korean Ministry of finance planning issued a "national resource tax status and Enlightenment of" the main resources of production report, pointed out that the main resource producing countries to raise resources tax will have a negative impact on South Korea LED products production and export.

The report pointed out that through the nationalization of resources, restrictions on export volume and levy resource tax, etc., China, Australia and other major resource producing countries continue to strengthen the control of resources.

Such as: Chinese in order to protect the rare metal resources, rare earth resources tax in April will rise to ten to twenty times, and plans in the second half of 2011, the official reform resource tax system, the tax rate will be for crude oil and natural gas, from the current five percent to five percent to ten, this will lead to coal, iron ore, rare earth the resources such as import prices.

These measures, for the entry into China and Australia, South Korea resources companies, including LED, LCD and other enterprises, will face a lot of pressure.