South Korea invests $2.3 billion to develop advanced batteries, biotech to face competition from China

South Korea to invest $2.3 billion to boost advanced battery and biotech development amid Chinese competition, global tensions

On February 5, 2568, Bloomberg News reported that South Korea plans to invest at least 34 trillion won ($2.3 billion) to support companies developing cutting-edge batteries and biotechnology. Citing rising geopolitical tensions and competition from China

Statement by the South Korean Ministry of Financespecify that The government will set up a new fund under the state-run Korea Development Bank to provide soft loans and invest in high-tech industries, the statement said, but did not give a timeframe for the investment or details about the fundraising.

The announcement comes after OpenAI CEO Sam Altman visited Seoul, where he met with executives from Samsung Electronics, SK Inc. and Kakao Corp.

The South Korean government also plans to establish a National AI Committee soon to elevate South Korea to one of the world's top three AI countries. The move comes in response to the rapid advances of Chinese AI startup DeepSeek, which South Korea's finance ministry called a "new level of concern" and which parliament will discuss necessary amendments to the law in March.

Earlier in December 2567, the South Korean government announced a $3.8 billion investment to develop a new electric vehicle and battery supply chain to counter China's market dominance. Meanwhile, South Korea, the world's largest chip exporter, is also facing continued uncertainty from US President Donald Trump's tariff threats.

refer : bloomberg.com

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