South Korea to spend $95 billion on green projects

South Korea has launched a plan to spend $94.6 billion on a green new deal to help its economy recover from the impact of the coronavirus by investing in electric vehicles and hydrogen cars.

The country aims to have 1.13 million electric vehicles and 200,000 hydrogen cars on the roads by 2025, up from 91,000 and 5,000 respectively at the end of 2019, while the government would expand charging stations for the vehicles. Further, the government also aims to invest 24.3 trillion won to set up smart grids across the country.

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