Gov't, ruling party to invest over 3 tril. Korean won in defense technology by 2027

Meanwhile government officials and ruling lawmakers have shared intentions to invest over three trillion Korean won or some 2-point-2 billion U.S. dollars on strategic defense technology by the year 2027.

According to the agreement announced on this Monday support will be extended to ten related sectors including artificial intelligence space technology and advanced materials.

Financial assistance worth up to five billion Korean won will also be granted to top small and mid-sized firms in relevant industries to sharpen their edge over the global competition.