RoK to invest 50 trillion won in “green” projects

January 8, 2009 in Uncategorized

Seoul (VNA) – The government of the Republic of Korea (RoK) will invest 50 trillion won (37.87 billion USD) in “eco-friendly” development projects over the next four years, local media reported.

The investment plan, which was endorsed at an earlier cabinet meeting, aims to create nearly one million new jobs and bolster the slumping economy, the RoK’s Ministry of Strategy and Finance was quoted by Yonhap news agency as saying on January 6.

According to the ministry, 39 trillion won will be invested in nine major businesses and 11 trillion won will be spent on 27 related businesses into 2012.

The government will also push to build nationwide “green” transportation networks, including low-carbon emitting railways, bicycle roads and other public transport systems costing some 11 trillion won and creating 160,000 new jobs over the next four years. –