Korea Development Bank to Provide Total of 25 Trillion KRW Over 5 Years for 'New Deal Program'

Establishment of Dedicated New Deal Program for Successful Implementation of Korea New Deal Comprehensive Plan

[Asia Economy Reporter Kangwook Cho] The Korea Development Bank announced on the 5th that it will establish and implement the 'Korea Great Transformation New Deal Program,' a dedicated New Deal financial support plan that effectively responds to government policies related to the Korean New Deal.

This program aims to provide a total of 25 trillion won in support over the next five years until 2025, applying a preferential interest rate of up to 0.8%p in fields related to the Korean New Deal. Through this, the bank expects to play a catalytic role in fostering a self-sustaining New Deal ecosystem in the private sector.

In particular, the 20 trillion won Korea Great Transformation New Deal Special Fund will broadly support the entire New Deal industry ecosystem, including companies operating in New Deal investment joint standard fields and items, and companies participating in government-led New Deal projects. This is the largest single product promoted independently by the bank.

Additionally, through the New Deal Venture and Scale-up Investment and Loan Program (1 trillion won), customized support for innovative venture and startup companies in fields such as untact and bio will be strengthened.

With the 3 trillion won New Deal Smart Factory Support Fund, support for facilities and R&D funds related to New Deal fields such as smart manufacturing companies will be enhanced. This fund may expand its support targets by including supply companies for smart factory equipment and could increase its operating scale by about 2 trillion won.

Furthermore, a new New Deal Enterprise Development Special On-Lending (1 trillion won) will be launched to expand indirect support for small and medium-sized enterprises engaged in New Deal industries.

A bank official stated, "We will continue to closely cooperate with the government to strengthen financial support for essential infrastructure construction in the digital and green economy," adding, "By actively responding to the Korean New Deal policy, we will do our best to achieve a leading economic transformation that prepares for the future."

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