korea-announces-boost-to-services-sector

Korea announces boost to services sector

Korea's Ministry of Strategy and Finance reveals details of its $19.6 billion plan for the economy's new growth engines.

Against a background of increasing tension with North Korea, the South Korean government on Wednesday unveiled its plans for the 17 industries that it designated as the new growth engines for the economy last January. They fall within three broad categories -- green technologies, converged industries and high valued services -- and W24.5 trillion $19.6 billion has been allocated to them for the next four years.

Green technologies range from the promotion of renewable energy to building environment-friendly cities, while the so-called converged industries include a variety of IT and nano-science technologies applied to broadcasting and communications, pharmaceuticals and food production.

Korea's Ministry of Strategy and Finance was keen to highlight...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222