[2020 National Audit] Eun Seong-su: "New Deal Fund Losses Should Not Be Covered by Taxes"

Eun Sung-soo, Chairman of the Financial Services Commission, is responding at the National Assembly's Political Affairs Committee audit held on the 12th. / Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Kim Hyo-jin] Eun Sung-soo, Chairman of the Financial Services Commission, stated on the 12th regarding the 'New Deal Fund' aimed at supporting the 'Korean New Deal,' "When launching the fund, it is appropriate to specify that (losses) are the individual's responsibility to prevent compensation of losses with taxpayers' money."

Chairman Eun made this remark in response to People Power Party lawmaker Kim Hee-gon's urging during the National Assembly's Political Affairs Committee audit, asking to "scrutinize carefully to ensure that astronomical taxpayers' money is not misused."

He added, "I fully agree that taxpayers' money should not be used (to compensate for New Deal Fund losses)," and said, "I believe it was wrong to previously give the impression that the principal was guaranteed."

Meanwhile, through his opening remarks at the audit and pre-distributed materials, Chairman Eun revealed plans to establish and operate a policy-type New Deal Fund in the first half of next year.

To this end, the Financial Services Commission plans to prepare detailed operational plans for the policy-type New Deal Fund by next month and hold business briefings for each New Deal sector between this month and next month.

Additionally, the Financial Services Commission intends to promote the activation of private-sector New Deal funds by developing the Korea Exchange's 'Green Index' within this year and launching 'New Deal Index-linked investment products.'

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