South Korea has commenced construction of the Southern Inland Railway connecting Gyeongbuk and Gyeongnam.
This project aims to reduce regional disparities and stimulate local economies.
The groundbreaking ceremony took place on February 6, 2026, marking the official start.
The Korean government is considering doubling national funding for infrastructure in advanced industry clusters located outside the capital region.
This move aims to strengthen competitiveness in sectors like semiconductors, batteries, and biotech, while supporting regional growth.
Decisions will be finalized in the first half of 2024 following committee approval.
South Korea issued $3 billion in foreign exchange stabilization bonds to strengthen external financial stability.
The issuance achieved record-low spreads, reflecting improved global investor confidence and favorable conditions for domestic institutions.
The bonds were issued on June 5, 2024, with maturities of three and five years.
South Korea is implementing a major overhaul of its lottery system after more than 20 years.
Key changes include flexible fund allocation and the introduction of mobile Lotto ticket sales.
The reforms begin with pilot programs and legislative steps in the first half of 2024.
The South Korean government will increase housing pension payments and ease enrollment requirements.
Key changes include a 3.13% payment increase, lower initial guarantee fees, and relaxed residency rules.
These measures take effect for new applicants from June 1, 2024.
South Korea and the US have reaffirmed their commitment to strengthening nuclear cooperation and critical minerals supply chain resilience.
The inaugural FORGE ministerial meeting in Washington, DC, marked a shift from the MSP to a broader international partnership.
As of June 2024, South Korea holds the FORGE chair and is actively pursuing multilateral collaboration.