Ministry of Science and ICT to Invest 1.31 Trillion Won in Digital Sector Policy Funds
Digital Companies Loan and Guarantee Preferential Support of 1.31 Trillion Won
Applications Open from the 15th for 7 Core Sectors
The Ministry of Science and ICT announced on the 15th that it will begin selecting candidate companies for policy funds in key digital sectors for 2023. The fund size amounts to 1.31 trillion KRW. This is a follow-up measure to last year's joint announcement by related ministries to concentrate on preferential loan and guarantee products in the industrial policy sector.
This policy fund supply will proceed through a process where the Ministry of Science and ICT recommends candidate companies to policy financial institutions, which then provide funds through loan and guarantee reviews. A total of 1.31 trillion KRW in policy funds will be supplied to digital innovation companies in seven key sectors. Applications will be accepted starting from the 15th through dedicated institutions for each sector. By sector, 695 billion KRW will be supplied to the digital new industry sector (AI, data, cloud, software), 530 billion KRW to the AI semiconductor sector, 66 billion KRW to the digital media and content sector, and 20 billion KRW to the quantum sector.
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Don't Throw Away Coffee Grounds" Transformed into 'High-Grade Fuel' in Just 90 Seconds [Reading Science]
- Signed Without Viewing for 1.6 Billion Won... Jamsil and Seongbuk Jeonse Prices Jump 200 Million Won in a Month [Real Estate AtoZ]
- "Groups of 5 or More Now Restricted"... Unrelenting Running Craze Leaves Citizens and Police Exhausted
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
Park Yoon-kyu, the 2nd Vice Minister of the Ministry of Science and ICT, stated, “Digital technology is a driving force that creates new business models and innovations, so it can greatly contribute to the recovery and growth of our economy. We will actively support digital technology companies, which play an important role in our economy, by providing rapid loans and preferential interest rates on policy funds to ensure they do not face more difficult conditions in securing funds compared to other countries, thereby helping secure global competitiveness and export growth.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
