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According to Yonhap News,
(SEJONG=Yonhap News) South Korea's policy lenders will inject about 53 trillion won (US$46.5 billion) in such fields as artificial intelligence, fifth-generation network services and Internet of Things (IoT), the country's vice finance minister said Friday.
Lee Ho-seung made the comment at the inaugural session of a consultative body at the state-run Korea Development Bank (KDB) in western Seoul.
The body -- which is composed of senior officials of the government and policy lenders -- is meant to oversee and coordinate policy loans to ensure the efficient provision of loans.
In 2018, the KDB and other policy lenders injected 47 trillion won into the innovative sectors, according to the ministry.
South Korea has been pushing to foster artificial intelligence, fifth-generation network services and Internet of Things (IoT) as well as other innovative sectors as its new growth engines.
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Source: Yonhap News (March 15, 2019)