Korea will send a delegation to Hungary, Poland and Slovakia to strengthen economic and trade cooperation, the trade ministry said Sunday. The Ministry of Trade, Industry and Energy said the delegation, led by First Vice Minister Jang Young-jin, will visit the three countries from Monday to Friday.
Korea will invest 13.5 trillion won ($10.23 billion) in key industry sectors, including semiconductors, secondary batteries and nuclear power generation, by 2030 to achieve innovative technologies and spur economic growth, the industry ministry said Monday.
The upcoming U.S. CHIPS for America Funding Opportunity program is becoming a new test for President Yoon Suk Yeol s diplomacy, as Washington s strings-attached incentive program is forcing Korean chipmakers, such as Samsung Electronics and SK hynix, to pick a side between the U.S. and China. Given the chipmakers influence on the Korean economy, the Korean government said related ministries are joining efforts with the companies to explore appropriate responses, but calls are growing to address this issue through summit-level diplomacy.
The US plans to release additional information on the provision of tax credits for new electric vehicle (EV) purchases next month as scheduled, South Korea's visiting Industry Vice Minister Jang Young-jin said.Jang arrived in Washington this .