The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    INTERVIEWAhn Hyo-seop wanted to share dedicated love with 'A Time Called You'

  • 3

    Distraught roller skater apologizes for costly premature celebration

  • 5

    Korea makes last-ditch bid to host World Expo 2030 in Busan

  • 7

    Heavy traffic jams mostly eased on 5th day of holiday

  • 9

    Consumers to face higher prices for daily necessities after Chuseok

  • 11

    Samsung chief visits Middle East to explore new businesses

  • 13

    Korea picks up 2 medals in table tennis as gold drought continues

  • 15

    Ruling party vows to investigate China's alleged influence operations

  • 17

    Shin-Hanul No. 2 nuclear reactor begins testing for full operation next year

  • 19

    Internet-only banks outperform legacy lenders in labor productivity

  • 2

    Korea's Coast Guard apprehends 22 Chinese after illegal entry attempt

  • 4

    SHINee launches first Japan tour in 5 years

  • 6

    S. Korea wins 1st table tennis gold in 21 yrs

  • 8

    Public transit fares to increase in Seoul and Busan this week

  • 10

    LA-based photographer captures Koreatown unfazed by pandemic

  • 12

    No regrets for roller skaters after taking silver in relay

  • 14

    National Assembly speeds up efforts to outlaw dog meat consumption in Korea

  • 16

    'Dr. Cheon and Lost Talisman' tops Chuseok holiday box office

  • 18

    Genesis GV80 Coupe looks to compete with Mercedes-Benz, BMW

  • 20

    4 injured in rockfall at tourist attraction on eastern island of Ulleung

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
Wed, October 4, 2023 | 22:33
Defense
Korea seeks to create $83.9 mil. defense industry investment fund
Posted : 2022-09-27 11:22
Updated : 2022-09-27 17:05
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
Korea Aerospace Industries' (KAI) FA-50 fighter / Courtesy of KAI
Korea Aerospace Industries' (KAI) FA-50 fighter / Courtesy of KAI

Korea will push to create a defense industry investment fund worth around 120 billion won ($83.9 million) by 2025 to support defense firms specializing in artificial intelligence, drones and other areas, the state arms procurement agency said Tuesday.

Hana Bank ― a local institution chosen to manage research funds from the state-funded Defense Agency for Technology and Quality and Agency for Defense Development ― will make investments worth 60 billion won in total from 2023-25 for the creation of a parent fund, according to the Defense Acquisition Program Administration (DAPA).

The Korea Growth Investment has been selected to manage the parent fund and create three subordinate ones, which will attract a combined 60 billion won from private investors in the 2023-25 period. The subordinate funds will be run for some 10 years.

The country's first such policy fund is aimed at supporting small and midsized defense enterprises boasting cutting-edge defense technologies in various areas, including energy, aerospace and semiconductors, according to DAPA.

"The purpose of creating this fund is to improve innovativeness of the industry's ecosystem in response to changes in the overall environment of the defense industry," DAPA said in a press release.

The local bank and fund manager were selected through a public bidding process. (Yonhap)


 
wooribank
LG
Top 10 Stories
1Public transit fares to increase in Seoul and Busan this week Public transit fares to increase in Seoul and Busan this week
2Ruling party vows to investigate China's alleged influence operations Ruling party vows to investigate China's alleged influence operations
3Genesis GV80 Coupe looks to compete with Mercedes-Benz, BMW Genesis GV80 Coupe looks to compete with Mercedes-Benz, BMW
4Korean steelmakers on alert over initiation of EU carbon border tariff Korean steelmakers on alert over initiation of EU carbon border tariff
5Korean shipbuilders seek lead over Chinese rivals in selling LNG carriers to Qatar Korean shipbuilders seek lead over Chinese rivals in selling LNG carriers to Qatar
630 out of 74 major financial companies lack female board member 30 out of 74 major financial companies lack female board member
7Hyundai, Kia to extend earnings rally on strengthening dollar, solid sales Hyundai, Kia to extend earnings rally on strengthening dollar, solid sales
8Dong-A Socio Group’s honorary chairman passes away at 96Dong-A Socio Group’s honorary chairman passes away at 96
9Lawmakers want chairmen of financial firms held accountable over misconduct Lawmakers want chairmen of financial firms held accountable over misconduct
10Returning home from Chuseok holiday Returning home from Chuseok holiday
Top 5 Entertainment News
1TREASURE takes flak for excluding Dokdo from its Japan tour map TREASURE takes flak for excluding Dokdo from its Japan tour map
2Two artists' windows to light and serenity Two artists' windows to light and serenity
3Crime thriller, romance series set to roll out in October Crime thriller, romance series set to roll out in October
4Korean literature featured as animation works at Incheon Airport Korean literature featured as animation works at Incheon Airport
5[PHOTOS] Kep1er returns with 'Magic Hour' to mesmerize fans PHOTOSKep1er returns with 'Magic Hour' to mesmerize fans
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group