S. Korea aims to attract 30 tln-won investment for materials, parts industries by 2030
South Korea aims to induce 30 trillion won (US$20.8 billion) in corporate investment by 2030 to develop 40 key technologies in the materials, parts and equipment sector, essential in the fields of artificial intelligence (AI) and quantum computing, the industry ministry said Thursday, Yonhap reports.
Through the envisioned investment, the country plans to establish 20 special industrial complexes for materials, parts and equipment companies by 2030, including 10 currently in operation, according to the Ministry of Trade, Industry and Resources.
To draw corporate investment, the government plans to offer various incentives, including low-interest loans, subsidies and business consultation services, while streamlining regulations related to construction and research and development (R&D).
The special zones will serve as export hubs featuring cutting-edge R&D facilities powered by AI and other advanced technologies, the ministry said.
The initiative was announced as part of the government's broad five-year plan on strengthening related fields. It aims to nurture 15 companies in the fields with global competitiveness by 2030.
South Korea first introduced such a blueprint in 2019 to reduce its dependence on Japan in the sector after Tokyo imposed export control measures on key industrial materials, which were lifted in 2023.
Earlier, it was reported Kazakh Deputy Prime Minister Kanat Bozumbayev presents the Alatau City project at a roadshow in South Korea.
