- California Assembly OKs highest minimum wage in nation
- S. Korea unveils first graphic cigarette warnings
- US joins with South Korea, Japan in bid to deter North Korea
- LPGA golfer Chun In-gee finally back in action
- S. Korea won’t be top seed in final World Cup qualification round
- US men’s soccer misses 2nd straight Olympics
- US back on track in qualifying with 4-0 win over Guatemala
- High-intensity workout injuries spawn cottage industry
- CDC expands range of Zika mosquitoes into parts of Northeast
- Who knew? ‘The Walking Dead’ is helping families connect
Firms in 10 major manufacturing sectors to invest combined 119 tln won in 2025
South Korean companies in 10 key manufacturing sectors, including the semiconductor industry, plan to invest a combined 119 trillion won (US$81.8 billion) this year to foster sustainable growth, the industry ministry said Wednesday.
The figure marks a 4 percent increase from the 114 trillion-won investment made in those sectors last year, according to the Ministry of Trade, Industry and Energy.
The sectors include automobile, display, rechargeable battery, steel, biology, petrochemical, shipbuilding, machinery and robotics, and textile.
The semiconductor industry is expected to increase investment in advanced memory business to respond to robust chip demand sparked by the growth of the artificial intelligence (AI) technology.
The automotive industry plans to expand investment in electric vehicle (EV) transition.
The secondary battery and steel industries, however, will likely decrease their investment due to sluggish demand and oversupply issues.
Detailed plans for the envisioned investments were not disclosed to protect the companies’ trade secrets.
“It is important to make strategic overseas investments amid the intensifying global trade war, but the companies also have to value domestic investment to create jobs and resolve supply chain uncertainties,” Industry Minister Ahn Duk-geun said.
Ahn called on the companies to pay particular attention to investment in AI as the fast-evolving technology could bring innovations across various industries.