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S. Korea to consider providing tax cut for memory chip R&D
Updated: 2021-04-16 18:02:53 KST
South Korea will invest 37 percent more than it did last year on the development of future cars.
Finance Minister Hong Nam-ki this morning revealed the move during a meeting on spurring innovative growth.
He said the government will invest nearly three-hundred-30 million U.S. dollars this year in the R&D of eco-friendly future vehicles.
He added the country will continue to expand investment until 2025, adding South Korea aims to be the world leader in the emerging market.
The focus will be on batteries, hydrogen fuel cells and self-driving networks.
Reporter : jy_rachel@arirang.com