- विज्ञापन -
Seoul: On December 18, the South Korean government announced a series of measures aimed at boosting corporate investment, in response to concerns that the recent political instability, including the declaration of martial law and the impeachment of President Yoon Suk Yeol, could harm the economy. Finance Minister Choi Sang-mok, who led the meeting attended by other economic ministers, emphasized that corporate investment was key to overcoming internal and external challenges.
The government’s plan includes offering various forms of support for seven large-scale projects valued at a combined 9.3 trillion won ($6.5 billion). These projects include an artificial intelligence hub in Gwangju and a state-of-the-art secondary battery facility in Saemangeum, a reclaimed area in North Jeolla Province. To expedite progress, the government intends to shorten administrative procedures by more than six months, allowing construction to begin early next year, and will also expand tax incentives.
The government is prioritizing the approval of a semiconductor cluster in Yongin, aiming to complete the approval process by the end of this year, ahead of the original timeline. Choi assured that despite the political turbulence, the government would actively support businesses to keep their investment plans on track. Since the brief imposition of martial law on December 3, Choi has been meeting daily with business leaders to maintain South Korea’s credibility.
