San-eun and Growth Finance to Promote Flexible Investment in 1 Trillion Won Scale Policy New Deal Fund
Scheduled to Select Outsourced Asset Managers Focused on Investment Areas Complementing the Regular Admission Project
[Asia Economy Reporter Park Sun-mi] KDB Industrial Bank and Korea Growth Investment Corporation announced on the 23rd the policy-type New Deal Fund's ad hoc investment project reflecting market and policy demands.
The policy-type New Deal Fund is expected to be raised with a total target of 40 trillion KRW this year. Through this ad hoc investment project, a plan to raise 10 trillion KRW will be prepared. Previously, the regular project (30 trillion KRW) was announced on December 29 last year, and the entrusted management company was selected in February this year. When selecting the management company, in addition to the digital New Deal sector, the green New Deal sectors such as eco-friendly and green industries for a carbon-neutral economy, future cars, smart manufacturing, and smart farms will also be considered as a priority to complement the regular project.
The ad hoc investment project will close proposal submissions on the 18th of next month, and through a fair and prompt review process, the management company will be selected by the end of June.
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An official from KDB Industrial Bank stated, “In February, the management company for the 30 trillion KRW regular project was selected amid great interest, and the public participation New Deal Fund was sold out early, confirming the high market expectations for the New Deal Fund,” adding, “Through the policy-type New Deal Fund, we expect to lay the foundation for South Korea to move toward a carbon-neutral economy, and that a dynamic and productive industrial ecosystem will be created through rapid fund formation and investment execution.”
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