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South Korea will provide $29 billion over five years to support the development of the battery industry
According to Reuters news on December 13, South Korea said that it would provide 38 trillion won (about 29 billion US dollars) in the next five years to support the development of the battery industry in order to cope with the tension of global battery chain competition.
South Korea's Ministry of Finance issued a statement sayingSouth Korea's Yoon Suk-yeol wants to improve the competitiveness of the country's battery industry, from mining to mining, and help local EV battery manufacturers diversify their chains. South Korea** plans to provide tax incentives and loan support to Korean companies investing overseas;Increase financial support such as loans, guarantees, and insurance for companies in the battery industry from institutions such as the Export-Import Bank of Korea;Raise 1KRW 5 trillion** to help companies acquire minerals and expand overseas production, etc. South Korea** said that the measures taken this time are aimed at strengthening the competitiveness of South Korea's battery industry in the long term and reaching the world's advanced level.
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This article was compiled by Situational Technology.
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