South Korea aims to invest at least 34 trillion Won (23 billion dollars) to help companies develop advanced technologies in the batteries and biotechnology sectors, given the increasing and competitive geopolitical tensions from China.
A statement by the Ministry of Finance said today, Wednesday, that the government will establish a new fund affiliated with the administration of the Korean Development Bank of the state to provide low interest loans and buy shares in the high -tech sectors, and the date of start or the timetable for completing investments or money raising details did not specify.
The advertisement comes a day after the CEO of Open AI, Sam Altman, visited the capital Seoul, during which he met the executives of the Samsung and SAK chips, and the Internet Cocoa.
Artificial Intelligence Committee
The ministry said that the government will also launch a national committee for artificial intelligence as soon as possible to make the country one of the three countries (America, China and South Korea), the world leader in this field, adding that the technology of the Chinese start -up company, Deep C., came as a “new shock.”
The Ministry will discuss in Parliament the required amendments to the relevant laws in March.
In December, the government revealed plans to invest $ 38 billion to build new supply chains for electric cars and batteries to counter China’s hegemony.
South Korea, which is one of the largest chips in the world, is facing uncertainty about President Donald Trump’s threats to impose customs duties.
It is noteworthy that South Korea has the Korea Investment Corporation – Kic, which was established in 2005 to manage part of the country’s foreign exchange reserves and invest in global assets, such as stocks, bonds, infrastructure and real estate.
Until the end of 2023, the net assets of the Korean Investment Company amounted to about 190 billion dollars.
