Industry and Financial Sectors Join Hands for New Deal Investment Cooperation... 200 Billion Won New Deal Fund Established

Private Investment Institutions Match 90 Billion Won in Sub-Fund Investment
Companies and Hana to Support Total of 1.1 Trillion Won Over Next 5 Years

[Asia Economy Reporter Kwangho Lee] On the 4th, the industrial sector, financial sector, and policy-type New Deal fund management institutions announced that they signed a 'Future Car and Industrial Digital Sector Industry-Finance New Deal Investment Cooperation Memorandum of Understanding (MOU)' at Hyundai EV Station Gangdong.

This MOU aims to establish a cooperative system among the industrial sector, financial sector, and New Deal fund management institutions to swiftly form policy-type New Deal funds focusing on future cars and industrial digital sectors and to generate investment outcomes.

Through this agreement, private investment institutions and New Deal fund management institutions will collaborate to establish a future car and industrial digital investment fund worth a total of 200 billion KRW this year, which is a sub-fund of the policy-type New Deal fund.

To this end, private investment institutions such as Hyundai Motor Group, Korea Evaluation Institute of Industrial Technology (KEIT), and Korea Institute for Advancement of Technology (KIAT) plan to invest a total of 90 billion KRW in sub-fund matching funds for the policy-type New Deal fund.

Financial institutions participating in the agreement, including Industrial Bank of Korea (1 trillion KRW) and Hana Financial Group (100 billion KRW), announced plans to invest a total of 1.1 trillion KRW in the New Deal fund over the next five years.

Seong Yun-mo, Minister of Trade, Industry and Energy, stated, "I hope the future car and industrial digital investment fund will supply sufficient patient capital to innovative companies in the future car sector, creating a dynamic industrial ecosystem and becoming a new successful model of industry-finance investment cooperation."

Eun Sung-soo, Chairman of the Financial Services Commission, remarked, "The New Deal investment agreement, involving both industry and finance, will serve as a compass to ensure that funds flow smoothly to the right places in the future car and industrial digital sectors, and I hope it will trigger a wave of New Deal investments across the industrial and financial sectors."

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