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South Korea selects 4 third-phase materials, parts and equipment specialised clusters, to provide 160 billion won over 5 years

South Korea has designated four new specialised clusters for the materials, parts and equipment industry to respond to supply chain reshuffling. The Industry Ministry selected South Gyeongsang for shipbuilding, Daejeon for defence, and North Jeolla and South Chungcheong for semiconductors. Private investment totals 7.7 trillion won, including 4 trillion won from demand companies. The government plans to provide 160 billion won over five years for R&D, infrastructure and workforce training.