South Korea plans to spend WON 155 billion ($121 million) to fund 26 short-term, green projects in eight fields (biopharmacy, robotic applications, renewable desalination plants, LED applications, system semiconductors, next generation displays, green cars, clean briquette energy). There are seven projects for LED applications, five green car projects, four biopharmacy projects and four semiconductor projects. Each project will receive WON 1–17.2 billion over one to two years. Funding will only go to private companies. Among the companies receiving investments are Samsung Electronics, Posco and SK Energy. For example, a collaboration between Samsung and small biotech companies will receive WON 9 billion to create biosimilars.

Source: JoongAng Daily