Investment in Creative Economy
Korea’s top ten enterprises will actively participate in the actualization of the “creative economy.” They have decided to invest 35% of their prospective investment monies into the biotech businesses, medical robot development, biomass plants, and other creative economy projects.
On August 2, according to the financial industry, the Federation of Korean Industries analyzed the top ten enterprises and their investment plans for the creative economy this year, which amounts to a total of 37 trillion won (US$33.8 billion). This is a sum of this year’s confirmed prospective investments for new projects and continuing investments for creative economy-related projects since 2010. Considering that the total investments coming from these enterprises are 104 trillion won (US$94.9 billion), 35% will be going to the creative economy project.
In more detail, 35.4 trillion won (US$32.3 billion) will be invested in creating new businesses. These include future growth businesses, new item development through convergence, investment for research and development to enforce major businesses’ competitiveness, and other things.
The main business areas related to the creative economy are investments in biotech businesses, battery plant development, LTE-A and other next-generation networking businesses, electric automobile part development, medical robot development, smart ship businesses, biomass plant businesses, and more.