Seoul, South Korea – The South Korean government has announced a series of measures aimed at boosting investment and revitalizing key industries. Among the key initiatives is the expedited approval of the Yong-in advanced system semiconductor national industrial complex, with the government aiming to complete the approval process by the end of this year.
Additionally, the government is exploring ways to invest in outdated sports stadiums to bring them up to international standards.
Deputy Prime Minister and Minister of Economy and Finance, Choi Sang-mok, emphasized the importance of investment in overcoming the current economic challenges. "As uncertainties surrounding our economy grow, industries are facing increasing difficulties," Choi said during a meeting. "The breakthrough to overcome these internal and external challenges is ultimately corporate investment."
The government has identified seven major projects, totaling approximately 9.3 trillion won, and plans to support their commencement by next year. The Yong-in semiconductor complex is a prime example, with the government streamlining the approval process to complete it by the end of this year, ahead of the initial target of the first quarter of next year.
Furthermore, the government will delegate the authority to delist the fishery resource protection area within the Gyeongnam Tongyeong complex marine tourism complex to local governments.
Other topics discussed at the meeting included a strategy for agricultural and rural innovation, a reform of the transportation facility support system, improvements to the management system for hydrofluorocarbons, and the development of income mobility statistics.
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