South Korea announced on Monday that it will invest more than $728 million (1 trillion won) to develop digital and energy facilities in industrial complexes across the country. The government will provide about $80.4 million (117 billion won) in funding, leveraging an expected $649 million (942.7 billion won) in private capital. The investment will focus on five key projects: a 15 MW fuel cell power plant in Iksan, a 25 MW data center in Busan, a smart farm in Wonju, a mixed-use dormitory and office complex in Iksan and a hotel and logistics center in Seoul. The projects are scheduled to run between 2025 and 2046, with the goal of modernizing industrial complexes and improving working and living conditions for employees.  

The investments are focused on non-metropolitan regions, with four of the five projects located outside the greater Seoul area. The fuel cell power plant and smart farm projects are designed as long-term investments, each with a 15-year or longer operational period. The trade ministry stated that the Korea Industrial Complex Corporation, the fund’s managing agency, will oversee project execution and private sector negotiations to ensure timely completion.