Kim Dong-yeon: "Yoon Government Cuts Mother Fund by 40%... Gyeonggi-do to Create 1 Trillion Won Fund"

Text and photo posted by Kim Dong-yeon, Governor of Gyeonggi Province, on his SNS on the 23rd

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Kim Dong-yeon, Governor of Gyeonggi Province, stated that the Yoon Seok-yeol administration has cut the mother fund budget by 40%, and Gyeonggi Province will establish a fund of 1 trillion won by 2026 to create an innovative startup ecosystem.

Governor Kim emphasized in a post on his social media (SNS) on the 23rd, "When I was serving as Deputy Prime Minister for Economic Affairs, I announced the 'Plan to Create an Innovative Startup Ecosystem in the Republic of Korea,'" adding, "My conviction is that the protagonists of a leading economy are undoubtedly innovative startups."

He continued, "However, the central government has cut the mother fund budget by about 40% this year," criticizing, "Preparations and investments for the future have disappeared."

Governor Kim promised, "Gyeonggi Province must be different," and "Gyeonggi Province will establish the 'G-Fund' worth 1 trillion won by 2026 to focus investments on startups for carbon neutrality, future innovative industries, and the development of northern Gyeonggi."

He also added, "Through attracting investments worth 100 trillion won and providing 1 trillion won in G-Fund investments, we will make Gyeonggi Province the center of future industries in the Republic of Korea," and "Additionally, I heard that the emergency heating cost support fund of 19.3 billion won in Gyeonggi Province has been fully disbursed today, and proactively supporting people in difficult times is also a public duty."

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