The industry ministry in South Korea announced a plan to offer 300 billion won ($203.6 million) to support projects focusing on the artificial intelligence (AI) and green transformation of industrial complexes. This financial aid will span over the next three to four years and target nine projects aimed at developing smart and green industrial complexes. The Ministry of Trade, Industry and Resources will initially invest 90 billion won in these projects this year.
Since 2019, a total of 24 industrial complexes in South Korea, including those in Changwon, Incheon, Daegu, Yeosu, and Ulsan, have been designated for AI and green transformation efforts. These initiatives are part of a broader national strategy to drive innovation and environmentally sustainable growth in the manufacturing sector. An official from the ministry emphasized the government’s commitment to supporting changes that enhance the competitiveness of companies within these industrial complexes and boost regional economies.
In a separate development, the industry ministry conducted an inaugural public-private trade security dialogue involving executives from major semiconductor, AI, and quantum companies. The dialogue aimed to address various global challenges confronting these key industries. Discussions during the event covered topics such as semiconductor export controls in the United States, China’s supply chain management regulations, and other trade security issues. The ministry initiated this dialogue to assist private industries in navigating the evolving landscape of trade security measures imposed by leading economies like the U.S., China, and the European Union.
Highlighting the importance of effective communication with businesses, Yang Ghi-wuk, the deputy minister for trade, industry, and resource security, stressed the need for collaboration to help Korean industries maintain their competitiveness amidst shifting global trade dynamics. The ministry outlined plans to establish hotlines with various business associations by the end of June to facilitate responses to trade security challenges and maintain ongoing communication with key sectors such as machinery, robotics, and automobiles.
