Kamco to Invest 470 Billion KRW in Korean New Deal by 2025
[Asia Economy Reporter Song Seung-seop] Korea Asset Management Corporation (KAMCO) announced on the 26th that it will invest 470 billion KRW by 2025 to create 4,000 jobs.
At the ‘2021 1st Korea New Deal Performance Creation and COVID-19 Crisis Overcoming Committee’ held at the Busan International Finance Center (BIFC) on the same day, KAMCO set goals to invest 470 billion KRW, create 4,000 jobs, and support the founding and financing of 274 companies by 2025 to achieve Korea New Deal outcomes.
KAMCO is currently promoting detailed projects such as establishing the Busan Youth Startup Hub, developing zero-energy national and public land, and leading smart building initiatives. For the Youth Startup Hub, KAMCO plans to complete construction and open it within the year by adding 2 billion KRW of its own budget to the 4.5 billion KRW national budget secured last year.
The committee selected the ‘New Normal Leading Public Enterprise Promotion Plan’ as a major task and decided to promote changes in work styles such as remote work and office space innovation, rent reductions for small business owners and SMEs, and expanded support for livelihood stabilization in COVID-19 affected areas.
Additionally, with the strengthening of low-carbon eco-friendly policies and the rising importance of corporate social responsibility, the committee selected as additional tasks the ‘Major Business ESG (Environmental, Social, Governance) Transition,’ including establishing ESG evaluation standards for payment-in-kind corporations, introducing and strengthening ESG criteria in DIP financial support.
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Moon Sung-yoo, President of KAMCO, said, “We will lead the post-COVID era through support for the Korea New Deal policy and the ESG transition of major businesses,” adding, “Rather than focusing on planning or strategy formulation, we will concentrate the company’s capabilities on executing and practicing these plans.”
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