South Korea will invest 414.2 billion won ($285 million) in developing advanced technologies to foster innovation across various industries by 2031 as part of efforts to foster future growth engines, the industry ministry said Wednesday.
The investment project kicked off in 2022 with an aim to support innovative technology development projects that will reshape future industries, according to the Ministry of Trade, Industry and Energy.
This year, the ministry selected three new items for investment, which are transcendence of space-time limitations on energy transmissions, advanced cyber security mechanisms and neuro-artificial intelligence fusion technology to strengthen the physical capabilities of humans.
The ministry will funnel a combined 414.2 billion won into the project by 2031, including 68.1 billion won for the three new items.
"We need to focus on developing world-best industrial technologies and secure global leadership to create new markets for the future and respond to the global technology war," Je Kyung-hee, director general for industrial technology convergence policy at the ministry, said in a press release. (Yonhap)
