SEOUL, Jan. 13 (Korea Bizwire) — South Korea’s ICT ministry said Wednesday it will invest 386.7 billion won (US$353.3 million) to develop smart farms over the next seven years as part of the country’s efforts to introduce new technology to the agriculture sector. The Ministry of Science and ICT said it launched a foundation to [...]
SEOUL, Jan. 12 (Korea Bizwire) — South Korea’s ICT ministry said Tuesday it will invest 125.3 billion won (US$114.1 million) this year to support the development of neural processors, up 75 percent from last year. Neural processing units refer to high-performance and low-powered logic chips that specialize in artificial intelligence (AI) services, according to the [...]
SEOUL, Jan. 12 (Korea Bizwire) — South Korea said Tuesday it will allocate 205 billion won (US$186.3 million) to adopt eco-friendly technologies for the local maritime industry in line with the country’s green energy drive. Under the project, the country will seek to build a total of 39 eco-friendly ships this year, including 23 for [...]
SEOUL, Jan. 8 (Korea Bizwire) — South Korea plans to increase budgetary support for the purchase of electric and hydrogen cars by around 30 percent this year in a bid to nurture the next-generation vehicle sector, the finance minister said Friday. The country has set the non-memory chip, bio-health and next-generation vehicle sectors as the [...]
SEOUL, Jan. 7 (Korea Bizwire) — South Korea’s ICT ministry said Thursday it will invest 262.6 billion won (US$242 million) to foster education in artificial intelligence (AI) and software this year as part of the country’s digital New Deal program that seeks to boost jobs in new tech industries. South Korea last year unveiled the [...]
SEOUL, Jan. 6 (Korea Bizwire) — South Korea said Wednesday it will spend 12.7 trillion won (US$11.7 billion) this year as part of its digital New Deal program, which aims to foster new tech industries for job creation. The government last year unveiled ambitious stimulus projects, under its Korean New Deal initiative, amounting to 160 [...]
SEOUL, Jan. 6 (Korea Bizwire) — South Korea will roll out the K-RE100 system this year to enable domestic companies to procure renewable energy at home, the Ministry of Trade, Industry and Energy said Tuesday. The K-RE100 system is designed to allow electricity consumers to purchase and use renewable energy on a selective basis. RE100, [...]
SEOUL, Jan. 5 (Korea Bizwire) — A number of fitness and pilates clubs in South Korea are taking a collective action to protest against the government’s latest decision to extend the Level 2.5 social distancing period by two additional weeks. During the extended period, fitness and pilates clubs will have to remain closed. Nonetheless, some [...]
SEOUL, Dec. 30 (Korea Bizwire) — The South Korean government said Wednesday it plans to complete the sale of its 17.25 percent stake in Woori Financial Holdings Co. by 2022, despite a delay in its sale amid the new coronavirus outbreak. The public funds oversight committee, which handles state asset sales, will make efforts to [...]
SEOUL, Dec. 29 (Korea Bizwire) — South Korea said Tuesday it plans to invest around 5 trillion won (US$4.5 billion) in research and development (R&D) projects in 2021 to foster new growth engines while seeking green growth. The amount marks a 19 percent jump from 4.1 trillion won allocated this year, according to the Ministry [...]