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South Korea Plans $23 Billion Fund to Support Battery and Biotech
South Korea aims to invest at least 34 trillion won ($23 billion) to help companies develop cutting-edge technologies in the battery and biotech sectors citing rising geopolitical tensions and competition from China.
South Korea aims to invest at least 34 trillion won ($23 billion) to help companies develop cutting-edge technologies in the battery and biotech sectors citing rising geopolitical tensions and competition from China. The government will set up a new fund under the state-run Korea Development Bank to offer low interest rate loans and buy stakes in the high-tech industries, a statement from the Finance Ministry said Wednesday. It didn’t specify a start date or completion time-line for the investments, or details of the fundraising.
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