The South Korean government will invest around 12 trillion won (10 billion U.S. dollars) into green technologies over the upcoming three to four years as part of its plan to push for eco-friendly growth, a presidential council said Wednesday.
The Presidential Committee on Green Growth, during its official meeting, revealed details of the government's "Green New Deal" announced earlier this year, which focuses on eco-friendly technology industries as a new growth engine.
The committee plans to allocate 4.2 trillion won (3.37 billion U.S. dollars) on developing green information technology products, boosting Internet infrastructure and constructing low-carbon transportation systems, it said.
The plan also focuses on research and development of other green technologies as well, such as high-efficiency solar batteries and hybrid vehicles, by injecting 8.4 trillion won (6.75billion U.S. dollars) until 2012.
The project is expected to bring about a job creation of up to 530,000 positions, the committee added.