Hong Nam-ki "Promoting Activation of Private Investment Projects Worth 30 Trillion+α"

Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, is delivering opening remarks at the "11th Emergency Economic Central Countermeasures Headquarters Meeting and 1st Korean New Deal Related Ministers' Meeting" held on the 23rd at the Government Seoul Office in Jongno-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Kwangho Lee] Hong Nam-ki, Deputy Prime Minister for Economy and Minister of Strategy and Finance, said on the 23rd, "We will promote the activation of private investment projects worth 30 trillion won plus alpha (+α) to secure infrastructure early by utilizing private funds and creativity."

At the Emergency Economic Central Countermeasures Headquarters (Economic Central Headquarters) meeting and the 1st Korean New Deal Ministerial Meeting held at the Government Seoul Office Building on the same day, Deputy Prime Minister Hong stated, "In addition to the already announced 10 trillion won private investment projects, we will discover new private investment projects worth 7.6 trillion won in existing types such as roads and railways and promptly proceed with related procedures such as private investment eligibility investigations."

The new private investment project targets include expressways (worth 4.5 trillion won), sewage treatment plants (worth 2.3 trillion won), and railways (worth 800 billion won).

Deputy Prime Minister Hong emphasized, "We also plan to actively discover new types of private investment projects worth 12.7 trillion won by utilizing comprehensive principles."

These include Green Smart Schools (4.3 trillion won), hydrogen charging stations (500 billion won), seismic reinforcement (7.8 trillion won), and LED lighting replacement (100 billion won).

Furthermore, he mentioned, "We will create conditions for market liquidity to invest in private investment projects by activating public infrastructure funds through dividend income separation taxation and deregulation of infrastructure funds, and improve the promotion environment by expanding incentives for private business proposals and shortening preliminary procedures."

This content was produced with the assistance of AI translation services.