KPL
(KPL/Yonhap) The industry ministry said Friday it will swiftly execute 981.4 billion won (US$684 million) in extra budget to support tariff-hit companies and advanced industries.
(KPL/Yonhap) The industry ministry said Friday it will swiftly execute 981.4 billion won (US$684 million) in extra budget to support tariff-hit companies and advanced industries.
With the additional budget, the Ministry of Trade, Industry and Energy will spend a total of 2.3 trillion won in 2025.
The 2025 budget includes 380 billion won in trade insurance for small and medium-sized enterprises (SMEs) and exports of defense and shipbuilding industries amid global trade uncertainties sparked by the U.S. administration's tariff scheme.
Some 415.4 billion won will be spent in stockpiling critical minerals essential for high-tech industries amid an ongoing global supply chain restructuring.
To boost the competitiveness of the semiconductor, rechargeable battery and other advanced industries, the ministry has allocated 311 billion won.
KPL
