South Korea will reduce permitting and impact-assessment procedures for Hyundai Motor’s approximately 4 trillion won conversion of its Ulsan combustion-engine plant into an electric-vehicle-focused facility to within one year from more than three years. The project is part of a 7.9 trillion won package for delayed corporate investment spanning semiconductors, clean hydrogen, batteries and other advanced industries. Separately, the government plans to launch the Our Child Self-Reliance Fund, also described as the Our Child Independence Fund, in the second half of next year to help families accumulate approximately 70 million won through long-term investment until children reach adulthood. Eligible households with income of up to 150% of the median may receive as much as 1.2 million won annually per child, while the government plans to pursue full tax exemption for investment returns. The Ministry of SMEs and Startups will also overhaul the digital Onnuri Gift Certificate program next year, cutting its universal purchase discount to 5% while adding usage rebates that lift total benefits to 10% at traditional markets and 8% at eligible non-metropolitan alleyway commercial districts.