The Public Growth Fund has decided to provide KRW 370 billion in support to wind power generation, submarine cable, and semiconductor substrate companies in order to secure AI-related power infrastructure and strengthen competitiveness in the semiconductor supply chain.

The Financial Services Commission convened the Fund Management Deliberation Committee for the Public Growth Fund on the 25th and approved three agenda items: infrastructure investment in an onshore wind power generation project in Yeongyang-gun, North Gyeongsang Province; expansion of LS Cable & System’s extra-high-voltage submarine cable production facilities; and expansion of the production plant of semiconductor substrate company Simmtech. The three projects approved this time total KRW 370 billion. The cumulative amount approved by the Public Growth Fund now stands at 19 projects worth KRW 13.6 trillion.

The 72MW-class onshore wind power project in Yeongyang-gun is a wind farm construction project with a total project cost of KRW 270 billion being promoted by GS E&R, Naver, and others. The Public Growth Fund will provide KRW 60 billion of this as a long-term loan with a maturity of 19 years.

LS Cable & System will receive a low-interest loan of KRW 80 billion with a 10-year maturity for the expansion of its extra-high-voltage submarine cable production facilities and test bed in Donghae, Gangwon Province. Simmtech, a semiconductor package substrate manufacturer in Cheongju, North Chungcheong Province, will receive a low-interest loan of KRW 20 billion for expanding its production facilities.

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