South Korea will invest 13.5 trillion won ($10.23 billion) in key industries, including nuclear power, semiconductors and secondary batteries by 2030, in order to facilitate economic growth and foster innovative technologies, South Korean media reported on Monday, citing the Ministry of Trade, Industry and Energy
MOSCOW (Pakistan Point News / Sputnik - 10th April, 2023) South Korea will invest 13.5 trillion won ($10.23 billion) in key industries, including nuclear power, semiconductors and secondary batteries by 2030, in order to facilitate economic growth and foster innovative technologies, South Korean media reported on Monday, citing the Ministry of Trade, Industry and Energy.
The South Korean government will carry out 40 research and development projects in 11 key industries, investing 6.2 trillion won by 2027 and an additional 7.3 trillion won by 2030, South Korean news agency Yonhap reported. The list covers semiconductors, displays, secondary batteries, future mobility, key materials, advanced manufacturing, intelligent robots, aviation and defense, bio, next-generation nuclear power generation and new energy, the report said.
To implement the project, the ministry signed memorandums of understanding with nine companies, including Hyundai Motor Co., POSCO Holdings Inc. and Samsung Display Co., and four relevant institutions, the media reported.
In the 2019 World Bank's Global Competitiveness Report, South Korea received 79 scores out of 100 based on its innovation capability, and 78 in the 2018 report.
