New Deal - Ecofriendly vehicles
The Ministry of Trade, Industry and Energy said that it plans to raise 200 billion won (179 million USD) in 2021 to nurture eco-friendly automobiles in line with the country’s New Deal drive. The government will contribute KRW 50 billion, and is partnering with Hyundai and the Korea Evaluation Institute of Industrial Technology which will contribute KRW 30 billion each. The fund will provide for development of materials and infrastructure for eco-friendly automobiles.
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