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South Korean government's 2023 R&D budget focuses on AI and semiconductors; Panel makers start investing in solar panels; Toyota and Honda build battery plants to acquire key EV technologies

Tom Lo, DIGITIMES Research, Taipei 0

Credit: DIGITIMES

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The observations for this issue's Asia Enterprise include the South Korea's government has budgeted KRW 31 trillion (US$22.61 billion) for research and development in 2023, mainly investing in AI, robotics, semiconductors, 5G and 6G communication technologies. Panel makers are facing losses and investing in the solar panel business to make up for the losses. Toyota is expanding its production and setting up new factories in Japan and the US, and Honda and LGES are setting up battery factories in the US, which shows that the two major Japanese automakers are actively to control the main supply of batteries.
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