Vice Minister of Economy and Finance: "Guidelines on New Deal Fund Investment Targets to Be Announced This Month"

16th Emergency Economic Central Disaster and Safety Countermeasure Headquarters Regular Briefing

[Image source=Yonhap News]

[Asia Economy Reporter Jang Sehee] Kim Yong-beom, First Vice Minister of the Ministry of Economy and Finance, said on the 17th, "We expect to finalize and announce the investment guidelines within September."

At the 16th regular briefing of the Central Emergency Economic Countermeasures Headquarters held at the Government Seoul Office on the same day, Vice Minister Kim stated, "We will present the investment target sectors and industries of the policy-type New Deal Fund and sequentially hold business briefings for each New Deal sector to help the market understand the Korean New Deal projects and the New Deal Fund." He added, "We plan to set broad categories by sector and specify examples by item to make it easy to understand."

Regarding the upper limit of the Renewable Portfolio Standard (RPS) ratio, Vice Minister Kim said, "The RPS ratio is currently stipulated at 10% by law, so it is difficult to raise the ratio beyond this, and there are limitations in expanding mid- to long-term demand in response to renewable energy supply."

He continued, "The government plans to revise the enforcement decree to raise the RPS ratio by 1 percentage point each in 2021 and 2022," and added, "A bill to abolish the legal cap of 10% and regulate the ratio through the enforcement decree is currently pending in the National Assembly."

He further emphasized, "There is no plan for government-initiated legislation, but when the lawmakers' bill is discussed in the National Assembly subcommittee, we will explain the government's position and cooperate to ensure the bill can be amended."

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