The Financial Services Commission will create a policy-type New Deal fund worth 4 trillion won this year.
The FSC announced on the 2nd that it plans to create a policy-type New Deal fund worth 4 trillion won using the government budget of 600 billion won and policy funds this year.
The policy-type New Deal Fund is a project that invests financial and policy funds in related digital and green SMEs and infrastructure to successfully promote the 'Korean New Deal'.
Last year, a fund of 5.6 trillion won was formed, which exceeded the original target of 4 trillion won, of which the New Deal Fund was 250 billion won.
The FSC announced that 500 billion won of the New Deal funds formed last year were invested in the New Deal field, and that full-scale investment will be made from this year.
In addition to the Korea Development Bank and Korea Growth Finance, which were in charge of the New Deal Fund management, the government plans to select one private management company as the lead institution through an open call this year and disperse fund management.
The selected private management company plans to oversee the management of 800 billion won, which is 20% of the 4 trillion won.
We promote fund management based on performance by expanding and distributing fund management funds to managers with excellent management performance.
In addition, we plan to create a fund by reflecting policy demands and market opinions.
We plan to strengthen the fund supply for areas requiring policy support, such as carbon neutrality and regional New Deal, and strive to support future core industries by reflecting the latest New Deal trends such as Metaverse.
In addition, to encourage each manager to quickly form a fund, we plan to shorten the time limit for fund formation and provide incentives based on early fund formation and investment performance.
(Photo = provided by the Financial Services Commission, Yonhap News)