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S. Korea to Foster Service, Entertainment Industries amid Economic Challenges

S. Korea to Foster Service, Entertainment Industries amid Economic Challenges

SEOUL, Nov. 18 (Korea Bizwire) — South Korea plans to draw up a five-year development plan for the country’s service industry in line with its efforts to foster new growth engines amid protracted economic challenges, the finance minister said Friday. “Recently, various cultural and entertainment content, such as BTS and ‘Squid Game,’ have gained popularity [...]

S. Korea Seeks to Create Massive Clean Hydrogen Ecosystem

S. Korea Seeks to Create Massive Clean Hydrogen Ecosystem

SEOUL, Nov. 9 (Korea Bizwire) — South Korea vowed Wednesday to significantly boost the use and production of clean hydrogen by extending support for securing advanced technologies and building infrastructures with a goal to achieve zero-emission goals and become the world’s No. 1 hydrogen industry powerhouse. The government announced the comprehensive roadmap during a hydrogen [...]

Gov’t Lowering Renewable Energy Supply Goals

Gov’t Lowering Renewable Energy Supply Goals

SEOUL, Nov. 4 (Korea Bizwire) — The government plans to readjust the renewable energy distribution goals and renewable portfolio standards (RPS) with the aim to make the policy more realistic. The Ministry of Trade, Industry and Energy on Thursday announced plans to improve policies on renewable energy in response to the changing energy environment. First, [...]

S. Korea to Invest 4.12 tln Won in R&D for 12 Strategic Technologies in 2023

S. Korea to Invest 4.12 tln Won in R&D for 12 Strategic Technologies in 2023

SEOUL, Oct. 28 (Korea Bizwire) — South Korea will funnel 4.12 trillion won (US$2.9 billion) into research and development next year to promote 12 selected strategic technologies as part of the country’s long-term future growth plan, the science ministry said Friday. The Ministry of Science and ICT said in a report released at a meeting [...]

Gov’t to Expand Liquidity Programs amid Corporate Bond Market Jitters

Gov’t to Expand Liquidity Programs amid Corporate Bond Market Jitters

SEOUL, Oct. 23 (Korea Bizwire) — South Korea’s financial authorities announced plans Sunday to expand liquidity supply programs to at least 50 trillion won (US$34.7 billion) as part of efforts to calm corporate bond market jitters. Finance Minister Choo Kyung-ho made the announcement right after an emergency meeting with the central bank chief and top [...]

S. Korea to Extend Support for ‘Strategic’ High-tech Materials, Parts

S. Korea to Extend Support for ‘Strategic’ High-tech Materials, Parts

SEOUL, Oct. 18 (Korea Bizwire) — South Korea decided to put more key technologies related to major materials, parts and equipment on its list for special management and support in a move to better ensure stable supply chains and to promote advanced industry sectors, the industry ministry said Tuesday. Following Japan’s exports curbs of key [...]