South Korea approves 1.6 trillion won in funding for high-tech sectors

South Korea’s Financial Services Commission has approved 1.6 trillion won in funding through the National Growth Fund to support seven companies across high-tech sectors, including robotics, semiconductors, and secondary batteries.

Wonik Robotics will receive 350 billion won in equity investment to fund mass production, component localization, and the construction of a robot hand production plant and an AI Transformation (AX) center. CJ FourDplex will receive 220 billion won via a project fund to expand its technical special theaters and promote the ‘Global K-Screen Quota’ for Korean content.

Additional low-interest loans include 560 billion won for Doosan Tesna to expand semiconductor testing facilities in Pyeongtaek and Anseong, and 300 billion won for LG Energy Solution to build next-generation battery production lines in Cheongju. Other recipients include TKG Solmics for semiconductor equipment parts, Kyungbo Pharm for antibody-drug conjugate facilities, and Samdong for electric vehicle motor components.

With these approvals, the cumulative approved amount of the National Growth Fund has reached 17.9 trillion won as of late August. The government expects to exceed its annual target of 30 trillion won following the formation of blind funds in the second half of the year.