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The South Korean authorities launched a policy aimed at encouraging the return of top science and technology experts by providing a 50% reduction in income tax for a decade. Nevertheless, the average yearly number of returnees has remained below 70. The tax relief scheme, which offers a 50% cut in earned income tax over 10 years to high-level domestic science and engineering professionals who have worked overseas for at least five years and subsequently return to South Korea to work in research organizations, was introduced in 2020.

As per information obtained by Democratic Party member of the National Assembly Hwang Jeong-ah from the Korea Communications Commission and the National Tax Service on the 17th, the number of participants in the program was 32 in 2020, 78 in 2021, 90 in 2022, and 68 in 2023, amounting to a total of 268 over four years—an average of 67 per year.

Even though the government chose to prolong the special period, which was scheduled to conclude this year, by three more years, specialists highlight that exceptional actions like increasing tax cuts are essential because of the limited number of applicants.

Hwang Jeong-ah stated, “In the age of technological dominance, it is urgently necessary to draw in top domestic talent, as one exceptional scientist can create technology that supports 10,000 individuals,” and highlighted, “Tax incentives, better living standards, and improved research facilities are crucial for bringing back high-level science and technology professionals to their home country.”