Gov't eyes private investment in emerging industries totaling 100 tln won

▲ Acting Budget Minister Lim Ki-geun (Yonhap)

emerging industries-investment

Gov't eyes private investment in emerging industries totaling 100 tln won

SEOUL, Feb. 11 (Yonhap) -- The government said Wednesday it will promote private-sector investment in emerging markets, such as artificial intelligence (AI) data centers.

Through the initiative, the budget ministry aim to attract up to 100 trillion won (US$68.9 billion) from private firms and investors over the next five years.

The plan was approved at a committee meeting chaired by acting Budget Minister Lim Ki-geun to discuss measures for boosting private investment.

"Alongside traditional infrastructure such as roads and railways, it is essential to combine public and private investment to expand future-oriented infrastructure in areas like AI and community-focused projects," Lim said.

The government also plans to launch public infrastructure funds that will encourage citizen participation and provide incentives for projects in regions with declining populations.

The government aims to finalize the business model in the first quarter, complete feasibility studies throughout the year, and launch the first private investment project next year, the ministry said.

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