South Korean government and investors commit US121 billion to support

South Korean government and investors commit US$121 billion to support priority industries

South Korea’s Ministry of Science, Information Technology and Future Planning has identified priority areas for financing national industry and will attract up to US$121 billion in investment for related needs by 2027. Most of this amount is covered out of the pockets of the market participants themselves.

    Image source: SK On

Image source: SK On

Department head Lee Jong-ho (Lee Jong-ho), according to the publication Business Korea, mentioned about 100 priority areas for the development of South Korea’s industry that will receive increased attention from officials. By 2027, $118 billion will be allocated from the capital of private companies to finance them, and the South Korean authorities will be directly limited to about $3.4 billion in subsidies.

In the semiconductor field, the search for new memory technologies, including memristor-based solutions, the development of accelerators for artificial intelligence systems, components for 6G communication networks and autonomous vehicle control systems, as well as the development of 3-nm and thinner lithographic technologies.

Another funding priority will be the development of promising display types for virtual reality devices, wearable electronics and vehicle interiors. Flexible displays will find application in all of these areas.

The development of new types of batteries for electric vehicles is supported quite extensively. At least 14 promising technologies in this area are aimed at improving the characteristics and properties of lithium batteries. At least seven developments will focus on improving hydrogen fuel cells, and six other technologies are expected to contribute to the emergence of isotopic power sources. Such batteries can be useful, for example, in space technology.

About the author

Dylan Harris

Dylan Harris is fascinated by tests and reviews of computer hardware.

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