Overseas construction era of $2 trillion driven by $1.1 trillion fund for plants, construction, and smart cities

The South Korean government has established a joint investment fund of 1.1 trillion won targeting global infrastructure, construction, and smart city projects through the Global Plant, Infrastructure, and Smart City Fund (PIS). This move aims to support domestic companies in advancing into overseas investment development projects, enhance the overseas contract capabilities of high-value projects, and promote exports. As of now, approximately 1.4 trillion won has been raised from the first phase, while the government, public institutions, and private investors are expected to collectively form a total of 1.1 trillion won for the second phase, known as PIS 2.