Hong Nam-ki: "We Must Tighten the Korean New Deal... Efforts to Settle the 4 Trillion Won New Deal Fund"

Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, visited the New Deal Fund sales counter at KDB Industrial Bank in Yeouido, Seoul, on the afternoon of the 1st, and was seen conversing with New Deal Fund sales staff along with Hong Ik-pyo, Policy Committee Chair of the Democratic Party, and Lee Dong-geol, President of Industrial Bank. (Photo by Ministry of Economy and Finance)

[Sejong=Asia Economy Reporter Moon Chaeseok] Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, said on the 1st, "There is a need to hold the reins of the Korean New Deal more firmly."

At the 'Korean New Deal Party-Government Promotion Headquarters Meeting' held on the 1st, Deputy Prime Minister Hong said, "We will make every policy effort to ensure that this year's 4 trillion won scale New Deal Fund is successfully established and support the rapid activation of private investment in the New Deal." Before the meeting, Deputy Prime Minister Hong visited the New Deal Fund sales window at KDB Industrial Bank in Yeouido, Seoul, and spoke with the New Deal Fund sales staff.

Since announcing the 'Plan to Create a National Participation Korean New Deal Fund' in September last year, the government has allocated a budget of 510 billion won for the creation of policy-type New Deal funds. The revision of the Restriction of Special Taxation Act for tax support of New Deal infrastructure funds has been completed. Investment guidelines for 200 items in 40 sectors of the New Deal have been prepared, and seven sector-specific investment briefings have been held.

This year, 26 policy-type New Deal fund sub-fund asset management companies were selected, and a New Deal infrastructure review committee was established. In February, the first policy-type New Deal fund sub-fund worth 42 billion won was formed and actual investments were made targeting smart healthcare companies. Subsequently, on the 29th of last month, the National Participation New Deal Fund was launched.

Deputy Prime Minister Hong said, "The National Participation New Deal Fund, whose sales volume is rapidly being depleted in just a few days, is expected to become an important touchstone for the success of the New Deal Fund," adding, "It is expected to increase the public's perception of the Korean New Deal and accelerate the 'boom-up' of the Korean New Deal."

He added, "The government will continue efforts to ensure that this year's 4 trillion won scale New Deal Fund is successfully established, including recruiting additional sub-fund asset management companies worth 1 trillion won."

Deputy Prime Minister Hong emphasized the need to prepare for industrial restructuring in the post-COVID-19 era. He said, "As COVID-19 vaccinations are now being actively administered worldwide and the economic recovery is accelerating, there is a need to hold the reins of the Korean New Deal more firmly to seize the opportunity to leap forward as a leading country in the post-COVID-19 era," and stressed, "I request the party's continuous interest and cooperation so that the remaining 21 'Future Transition New Deal Legislative Tasks' can be promptly completed in the National Assembly."

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