This Year, 4 Trillion Won Raised for Policy-Type New Deal Fund... Full-Scale Promotion of Digital and Green Industries

[Asia Economy Reporter Jin-ho Kim] The government is set to establish a 4 trillion won-scale 'Policy-type New Deal Fund' to actively foster the digital and green industries.

The Financial Services Commission announced on the 2nd the '2021 Operational Performance and 2022 Policy-type New Deal Fund Operation Plan,' which centers on this initiative.

Looking at last year's operational performance, the New Deal Fund successfully raised 5.6 trillion won, exceeding the initial target of 4 trillion won. The 국민참여 New Deal Fund also raised 250 billion won. Among the established New Deal Funds, 500 billion won was invested in New Deal sectors such as digital and green industries.

The Financial Services Commission plans to actively expand investments in New Deal sectors starting this year. First, it will push for the establishment of a 4 trillion won-scale New Deal Fund again this year.

It intends to strengthen fund supply to areas requiring policy support such as carbon neutrality and regional New Deals, and guide fund allocation to prevent excessive concentration in specific New Deal sectors. Additionally, by reflecting the green taxonomy and other factors, it will support future core industries without gaps according to the revamped 'New Deal Investment Joint Standards.'

To expedite the formation and investment of New Deal Funds, the fund formation deadline will be shortened from the existing 8 months to 7 months, and incentives will be provided based on early fund formation and investment performance.

The New Deal Fund managing institutions, Korea Development Bank and Korea Growth Finance, will announce recruitment this month to select private managing institutions and sub-fund operators to jointly operate the 2022 New Deal Fund, with final selections planned for March.

A Financial Services Commission official stated, "We will continue systematic evaluation, management, and communication with the market regarding the New Deal Fund to ensure the smooth establishment of the 4 trillion won-scale New Deal Fund and the creation of investment outcomes."

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