S. Korea to create 500-billion won fund to bolster next-gen car suppliers

강승환 기자 | 기사입력 2021/06/11 [10:50]

S. Korea to create 500-billion won fund to bolster next-gen car suppliers

강승환 기자 | 입력 : 2021/06/11 [10:50]

▲ South Korea plans to have eco-friendly cars take up 30 percent of the total automobiles registered in the country by 2030, from the current 3 percent.

 

South Korea plans to create a 500-billion won fund to support around 1,000 auto parts makers evolve into key suppliers of next-generation automobiles by 2030.

 

Finance Minister Hong Nam-ki said the fund would support research and development and facility investment.

 

Hong noted that the investment is very necessary to take the lead in the next-generation vehicle, including autonomous and hydrogen-fueled vehicles, and related parts markets.

 

South Korea plans to have eco-friendly cars take up 30 percent of the total automobiles registered in the country by 2030, from the current 3 percent.

 

Hong added that the government will conduct a preliminary feasibility study over key projects in the chipmaking industry.

 

In May, South Korea announced it would provide tax incentives and subsidies to encourage chipmakers to invest a combined 510 trillion won by 2030.

 

The country is eyeing to become a global powerhouse in both memory and non-memory chips.

 

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