Lee Nak-yeon: "Korean New Deal Tasks to Be Completed by Mid-Year"

Completion of 10 Major Legislative Tasks at February Extraordinary National Assembly
Launch of Korean New Deal Fund Targeted for March... Proposal for Proactive Investment from Political Circles

[Image source=Yonhap News]

[Asia Economy Reporter Jeon Jinyoung] Lee Nak-yeon, leader of the Democratic Party of Korea, announced on the 14th that the 10 major legislative tasks of the Korean New Deal will be completed during the February extraordinary session of the National Assembly.

At the Korean New Deal Party-Government Promotion Headquarters meeting held online at the National Assembly that day, Lee said, "We must double our efforts starting from the February extraordinary session of the National Assembly to complete the legal and institutional maintenance tasks related to the Korean New Deal by the first half of the year."

He added, "We need to focus more efforts so that the public can feel the project’s achievements," and urged, "We must accelerate the promotion of the 10 major representative tasks that have significant economic and social ripple effects."

Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, who attended the meeting, said, "This year marks the first year of full-scale promotion with a secured budget of 21 trillion won," and added, "Progress is beginning to appear here and there. The private sector is active with large-scale investment plans in data, hydrogen, etc., and private New Deal funds, including ETFs, are being launched in the market."

Deputy Prime Minister Hong added, "The government will mobilize all policy capabilities to overcome the crisis, achieve economic recovery, and produce results."

After the meeting, Democratic Party spokesperson Heo Young told reporters, "We are preparing to pass legislation on the 10 core tasks of the Korean New Deal during the February extraordinary session," and stated, "All 10 tasks are scheduled to be proposed by the 25th."

Regarding the future plans for the Korean New Deal Fund, spokesperson Heo said, "We are designing it well with the goal of launching it in March," and added, "President Moon Jae-in also invested 50 million won in the New Deal Fund, and there have been proposals and discussions in the political circle to proactively invest as well."

She continued, "Leader Lee expressed hope that although the fund is promoted by the government, the Korean New Deal Fund, which can even guarantee returns, will be an opportunity to absorb the large amount of liquidity circulating in the market."

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