S. Korea to create 500-billion won fund to bolster next-gen car suppliers

South Korea plans to have eco-friendly cars take up 30 percent of the total automobiles registered in the country by 2030, from the current 3 percent.

South Korea plans to create a 500-billion won fund to support around 1,000 auto parts makers evolve into key suppliers of next-generation automobiles by 2030.

Finance Minister Hong Nam-ki said the fund would support research and development and facility investment.

Hong noted that the investment is very necessary to take the lead in the next-generation vehicle, including autonomous and hydrogen-fueled vehicles, and related parts markets.

South Korea plans to have eco-friendly cars take up 30 percent of the total automobiles registered in the country by 2030, from the current 3 percent.

Hong added that the government will conduct a preliminary feasibility study over key projects in the chipmaking industry.

In May, South Korea announced it would provide tax incentives and subsidies to encourage chipmakers to invest a combined 510 trillion won by 2030.

The country is eyeing to become a global powerhouse in both memory and non-memory chips.


Japan travel news, japan travel guides, japan holiday destinations and japan reviews

LATEST NEWS

NEWS RELATED

Telstra acquires Mediacloud Australia

Telstra has acquired Perth-based web hosting and cloud services provider Mediacloud Australia for an undisclosed sum. The deal would provide Telstra’s global broadcasting arm Telstra Broadcast Services (TBS) with software-defined and cloud-based capabilities, as well as a number of media cloud delivery experts and a Master Control Room in the…

Read more: Telstra acquires Mediacloud Australia

Could a digital Hong Kong dollar undermine the local banking sector? HKMA must take note

The Hong Kong Monetary Authority has set up a working group “to study the technology and regulatory issues related to an e-Hong Kong dollar”, said Eddie Yue Wai-man, the authority’s chief executive, on June 8. This is a timely move but there are more issues to consider than just technological…

Read more: Could a digital Hong Kong dollar undermine the local banking sector? HKMA must take note

Lordstown Motors’ stock takes a dive after losing its CEO and CFO

Photo by: Lordstown Motors/Facebook Lordstown Motors has been struggling with the business for some time now and rather than getting better, it seems that the company is experiencing more issues. Things are getting worse especially now that it was reported its chief executive officer and chief financial officer have stepped…

Read more: Lordstown Motors’ stock takes a dive after losing its CEO and CFO

Cafe de Coral to speed up China expansion after mainland business, sops boost restaurant firm’s net profit

Hong Kong-listed Cafe de Coral Holdings, one of Asia’s largest restaurant and catering groups operating quick-service restaurants, will speed up its expansion in mainland China with 17 store openings in the pipeline. The company revealed its plans after its net profit for 2020 almost quintupled, despite lower revenue in Hong…

Read more: Cafe de Coral to speed up China expansion after mainland business, sops boost restaurant firm’s net profit

Stanley Ho’s youngest son Mario launches firm to help family offices tap investment opportunities in Greater Bay Area

Mario Ho Yau-kwan, the youngest son of the late Macau casino tycoon Stanley Ho Hung-sun, has set up a family office platform to help wealthy families tap opportunities in the fast-growing Greater Bay Area. Ho, 26, a maths whizz and the youngest finance graduate ever from the Massachusetts Institute of…

Read more: Stanley Ho’s youngest son Mario launches firm to help family offices tap investment opportunities in Greater Bay Area

Using a Shared Folder to Connect Your Mac to a Synology Drive

While Windows-based machines often have a lot of options when it comes to hardware and software, users of Mac computers and Apple operating systems aren't so lucky. Thankfully, there isn't much need for anything else when using a Synology Drive. What is the Synology Drive? To put it simply, the…

Read more: Using a Shared Folder to Connect Your Mac to a Synology Drive

Moderna recruits former Johnson & Johnson executive Paul Burton to be its medical chief

Photo by: Moderna/Facebook Moderna has assigned its new chief medical officer after recruiting a former Johnson & Johnson executive. It was reported that effective on July 6, Dr. Paul Burton will be joining the American pharmaceutical and biotechnology company based in Cambridge, Massachusetts. As per Market Watch, Dr. Burton worked…

Read more: Moderna recruits former Johnson & Johnson executive Paul Burton to be its medical chief

Ferrari launches luxury fashion business

Photo by: Ferrari Style/Facebook Ferrari is widely known to be a luxury sports car manufacturer. The Italian company may not be solely known for its sports cars anymore as it recently ventured into a new kind of business, and It involves fashion. Ferrari is expanding its business scope and has…

Read more: Ferrari launches luxury fashion business

Philips announces recall for its ventilators and sleep apnea machines over cancer risk

How Hong Kong’s family offices can use impact investing to help fight wealth inequality

US Supreme Court revives LinkedIn bid to shield personal data

Hyundai Motor halts operations in US plants

SBW reportedly the only bidder for the Eastar Jet acquisition

Chinese sportswear maker Xtep gets US$129 million boost from Hillhouse Capital to grow K-Swiss, Palladium brands in global markets

Celltrion’s COVID-19 antibody treatment shows positive results in the phase 3 trial

Toshiba blames former CEO for scandal

OTHER NEWS