By Kang Yoon-seung
SEOUL, Nov. 7 (Yonhap) — Five international organizations have decided to invest a total of US$940 million in South Korea’s advanced technology sectors, according to the Ministry of Trade, Industry and Energy.
At an investment fair for foreign companies in the southern port city of Busan, Japan’s TOK Advanced Materials Co. and the South Korean division of Renault S.A. were among the firms that committed to the venture. Prime Minister Han Duck-soo spoke at the event, noting that the investment will lead to a shift towards a greener industrial structure and allow South Korea to make strides in cutting-edge technologies.
Thailand-based B.Grimm Power and Spain’s Ocean Winds are planning to construct offshore wind power facilities, while Renault Korea Motors is committed to converting production lines to manufacture eco-friendly vehicles. Hines, a U.S.-based real estate developer, proposed a research and development center for quantum computing technologies in Busan. Additionally, TOK Advanced Materials Co. will be creating a photoresist production line for semiconductor production, which is expected to strengthen the relationship between the two countries.
The Ministry of Trade, Industry and Energy did not reveal the exact amount of each project.
colin@yna.co.kr
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