South Korea's Ministry of Economy and Finance announced on Monday that the government will invest $1.7 billion in industrial clusters focused on new technologies, according to Yonhap. Around $300 million will be used in 2024 for industrial zones "specialized in strategic and medical industries," while the rest of the funds will be allocated by the end of 2028.
The government said it will seek to fast-track plans to build the "world's largest semiconductor cluster" in Yongin, south of Seoul. It added it aims to invest around $1.4 billion in "research projects with major institutions from overseas" next year on semiconductors, displays and batteries.
