[2020 National Audit] Yoon Kwan-seok: "New Deal Fund Must Be Careful Not to Become a 'Government-Controlled Fund'"

Yoon Kwan-seok, Chairman of the Political Affairs Committee, Urges the Financial Services Commission: "Do Not Repeat the Legacy of Past Criticism on Government Control and Intervention"
"Make Efforts to Eliminate Controversy and Build Trust Through Sufficient Communication"

Eun Sung-soo, Chairman of the Financial Services Commission, attended the audit on the Financial Services Commission held at the National Assembly's Political Affairs Committee on the 12th. After taking the oath as a witness, he handed the declaration to Chairman Yoon Kwan-seok. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Kangwook Cho] Yoon Kwan-seok, a member of the Democratic Party and chairman of the National Assembly's Political Affairs Committee, emphasized that the government should "not repeat the legacy of past government-controlled funds" regarding the 'New Deal Fund' being promoted by the government.

On the morning of the third day of the National Assembly audit on the 12th, Yoon questioned Eun Sung-soo, chairman of the Financial Services Commission, about opinions and positions on the controversy surrounding the 'government-controlled fund' related to the 'New Deal Fund,' and urged him to sincerely focus on cooperation and communication with the private market for the successful promotion of the New Deal Fund.

Yoon inquired of the chairman about the current progress in relation to some public opinions criticizing the New Deal Fund as a 'government-controlled fund' and a 'violation of the Capital Markets Act.'

In response, Chairman Eun stated that specific projects have already been announced, and among the three branches of the New Deal Fund?policy-type, infrastructure, and private?some private funds have already been listed on the stock exchange and investments are underway. He also mentioned that investment guidelines were announced last September.

Furthermore, he said that remaining questions about the New Deal Fund will be addressed through investment briefings scheduled for October or November, and that efforts will be made to continuously communicate with the market and connect with investors.

In response, Yoon pointed out, "Criticism of the New Deal Fund as a 'government-controlled fund' partly stems from market prejudices caused by previous governments pushing policies like 'green finance,' 'unification finance,' and 'technology finance' without sufficient communication with the market and maturation of the investment environment."

Finally, he urged Chairman Eun, "Please actively communicate with the market and strive to dispel various criticisms and unresolved doubts."

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