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Industry

South Korea science ministry breaks ground on Korea New Light Accelerator, aims for 2029 completion

South Korea\'s Ministry of Science and ICT and the Korea Basic Science Institute on July 27 held a groundbreaking ceremony for the Korea New Light Accelerator in Ochang, Cheongju. The fourth-generation circular synchrotron will use radiation generated by accelerating electrons close to the speed of light to analyse materials at the atomic level. The ministry plans to invest 1.16 trillion won, aiming to complete the project by end-2029, with KBSI overseeing construction.

Finance

KB Financial to expand investment in advanced industries with 150 billion won unicorn fund

KB Financial Group is expanding financial support for advanced strategic industries including semiconductors, physical AI and AI data centres. It plans to shift corporate credit reviews away from past financial results toward assessments of technology and growth potential. The group also plans to form a 150 billion won fund to nurture unicorns, fully funded by KB affiliates and managed by KB Securities, to invest in AI, semiconductors and other sectors.

Industry

Saemangeum to become physical AI, robotics hub; Han PM says Hyundai Motor investment begins new direction

South Korean Prime Minister Han Sung-sook (한성숙) visited Saemangeum in North Jeolla province as her first trip to the region since taking office and discussed support for Hyundai Motor Group investment and measures to foster physical AI and robotics industries. She held a corporate meeting with tenant firms, experts, government ministries and provincial officials. The government plans to revise the Saemangeum master plan around a concrete 10-year development blueprint and set up a pan-government support system.