The Ministry of Climate, Energy and Environment and the Korea Environmental Industry & Technology Institute are significantly expanding green bond and green ABS issuance support this year.
Support now covers SMEs’ working capital and extends interest cost aid up to three years, easing financial burdens.
Applications for green bond interest subsidy open June 12, and green ABS support starts June 21.
The Ministry of Science and ICT (MSIT) will prioritize the allocation of over 4,000 advanced GPUs, including 2,296 H200s and 2,040 B200s, to industry, academia, and research institutions from the 13,000 GPUs secured this year.
This initiative aims to support AI research, development, and the creation of innovative services, with a call for project proposals open until January 28, 2025, via an online platform (AIinfrahub.kr).
Academic and research institutions can use them free of charge, while the industry (SMEs, startups) will pay 5-10% of market price, with preferential treatment for regional companies and additional reviews for large-scale projects.
The Ministry of Trade, Industry and Energy announced that regional economic growth will be its top priority next year, focusing support on ‘5 Core + 3 Special Growth Engine’ industries.
It plans to expand AI factories nationwide to 500 by 2030 and establish 15 collaborative AI models and 13 AI demonstration industrial complexes.
In addition, it will promote region-specific clusters and implement trade strategies to respond to U.S.-China risks.
The government announced a comprehensive strategy targeting the cultivation of 10,000 AI and deep-tech startups, creation of 50 unicorns/decacons, and annual venture investment of 40 trillion won.
The plan focuses on restructuring the venture ecosystem around technology, regions, talent, and capital, including GPU allocation, global expansion support, and retry policies.
It aims to improve venture capital fundamentals through Mother Fund 2.0, financial deregulation, tax incentives, and building an investment-recycling platform.
South Korea’s Ministry of Trade, Industry and Energy held talks with UAE’s Minister of Industry and Advanced Technology to discuss cooperation in AI data centers and oil stockpiling.
The ‘Stargate UAE’ project aims to build a 5GW AI computing cluster, with a 200MW cluster scheduled to begin operations next year.
Both sides agreed to expand the existing oil stockpiling collaboration and continue cooperation in upstream and downstream oil and gas sectors.
The Ministry of Employment and Labor announced the passage of amendments to the Employment Insurance Act and the Collection Act in the Cabinet meeting.
The payment period for substitute workers for parental leave will be extended by up to one month, and the upper limit for parental leave reduction benefits will be increased.
Due to the minimum wage increase next year, the upper limit for job-seeking benefits will rise to 68,100 won per day, and the 4.5-day workweek support project can be entrusted to the Korea Labor Foundation.