National Growth Fund Invests 370 Billion Won in Wind Power, Cable, and Semiconductor Industries

by Choi Hokyung

Published 25 Jun.2026 19:31(KST)

As Part of the 'Energy Infrastructure Development Project'

Financial authorities will provide 370 billion won in support for the wind power, cable, and semiconductor materials, parts and equipment industries.

The Financial Services Commission announced on the 25th that it held a meeting of the National Growth Fund's Investment Review Committee and approved 370 billion won in funding for three projects: infrastructure investment in the Yeongyang-gun onshore wind power project, low-interest loans to cable and semiconductor value chain companies, among others. This support is part of the second mega project's ‘Energy Infrastructure Development Project’.

Financial Services Commission logo. Financial Services Commission Yonhap News Agency

First, GS E&R and Naver will build a 72-megawatt (MW) wind power plant in the Yeongyang-gun area of North Gyeongsang Province and supply the generated electricity long-term to a nearby Naver data center. A total of 270 billion won in infrastructure investment will be provided for this project, of which 60 billion won from the Advanced Strategic Industry Fund will be supplied as a 19-year long-term loan.

This is expected to secure artificial intelligence (AI) power infrastructure, support RE100, and contribute to revitalizing the local economy.

For the expansion of the extra-high voltage submarine cable mass production facility and testbed of LS Cable, a submarine cable manufacturer, 80 billion won will be provided in low-interest loans. In addition, 20 billion won in low-interest loans will be provided for the expansion of the production plant of Simmtech, a next-generation memory substrate manufacturer based in Chungbuk, strengthening the value chain of the semiconductor materials, parts and equipment industry.