Vice Minister Ki: "Leave New Deal Fund Investment Target Selection to Private Autonomy"

Cannot Rule Out Possibility of Agricultural Product Price Fluctuations... Best Efforts for Price Stability Before Kimjang Season

[Asia Economy Reporter Jang Sehee] Kim Yongbeom, the 1st Vice Minister of the Ministry of Economy and Finance, stated on the 15th regarding the New Deal Fund, "In the future, detailed formation of sub-funds and selection of investment targets will not be decided directly by the government but will be autonomously determined by the private sector."

Vice Minister Kim made this remark during his opening remarks at the 28th Innovation Growth Strategy Review Meeting and Policy Review Meeting held at the Government Seoul Office that day.

He emphasized, "To guide abundant market liquidity into New Deal sector investments, we have also prepared plans for the formation of a citizen-participation type New Deal Fund and policy-type New Deal Fund investment guidelines." The government plans to continuously identify and improve legal and institutional obstacles that hinder the Korean New Deal, in addition to the tasks already discovered and improved.

He added, "Through a regional balanced New Deal in cooperation with local areas, we will actively promote regional economic revitalization and balanced regional development," and stressed, "Going forward, the Korean New Deal Task Force (TF) will continuously review the New Deal implementation performance by each ministry and resolve difficulties arising during task implementation."

He continued, "The government's visible hand will steadily build a strong mountain that supports difficult livelihoods and future growth engines by accumulating responses to the COVID-19 crisis and reviews of the Korean New Deal policy."

The government also reviewed the price trends of vegetables such as cabbage. He evaluated, "In September, agricultural product prices rose sharply, especially for vegetables like cabbage, radish, and tomato, due to the longest-ever rainy season and typhoons," and added, "Fortunately, favorable weather conditions after the typhoons have led to good vegetable crop conditions."

He further stated, "Although agricultural product prices have recently shown a downward stabilization trend, fluctuations due to weather conditions such as sunlight and temperature differences cannot be ruled out," and added, "We will closely monitor agricultural supply and demand and price trends." He also said, "With the main kimchi-making season approaching, we set price stabilization and consumer burden relief as the top priority goals and will prepare additional response measures if necessary."

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