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The South Korean government has come up with plans to help boost the sagging domestic economy,... which include a two-point-six billion dollar fund to help builders expand overseas and easing some regulations on new industries.
Our Kim Da-mi has the details.
As part of efforts to revitalize the country's falling exports, the South Korean government will create a global plant, construction and smart city fund.
At a meeting of economy-related ministers on Wednesday, the country's Finance Minister Hong Nam-ki introduced the project worth some 2-point-6 billion dollars,... to help construction companies expand overseas.
For the first phase of the fund,... worth about one-point-three billion dollars... the government will contribute one-hundred-30 million dollars,... while ten public companies will invest almost four-hundred million.
Hong said his ministry will review creating part of the fund from the supplementary budget proposal.
"The global plant fund will bring around 40-billion dollars worth of overseas orders and pave the way for South Korean companies to join about 80 investment and developing projects."
The government also announced it will ease 31 regulations on new industries and technologies.
That includes enabling sales of health supplements at large supermarkets and department stores,... and getting rid of the registration process required for businesses to sell such supplements.
In addition, the government plans to develop the nuclear decommissioning industry.
The trade ministry says it will nurture know-how and technology from the country's atomic energy phase-out plan, and aim to grab ten percent of the world's 480 billion dollar nuclear decommissioning market by 2035.
Kim Da-mi, Arirang News.
