Nam-ki Hong, “Prompt investment of 100 trillion won in core projects and 311 trillion won in policy finance for small businesses”

Hong Nam-ki, Deputy Prime Minister and Minister of Strategy and Finance (provided by the Ministry of Strategy and Finance)

The government has decided to expeditely inject more than 100 trillion won in finances for six core projects, including support for small businesses and carbon-neutral investment.

Deputy Prime Minister and Minister of Strategy and Finance Hong Nam-ki held a meeting of the Central Emergency Economy Countermeasures Headquarters at the government complex in Seoul on the 6th and said, “We will select six core businesses worth more than 100 trillion won and particularly encourage the speed of execution.”

As core business contents, ▲ support for vulnerable groups such as small business owners ▲ job creation ▲ social overhead capital (SOC) expansion ▲ Korean version of the new deal ▲ carbon-neutral financial investment ▲ balanced national development project.

The central finance will execute 126 trillion won, or 63% of the projects subject to execution, in the first half, and local governments and local education finances will also be implemented at an early stage by 60% or more in the first half.

Investment in public institutions will increase to a record-high 67 trillion won, of which 53% will be executed in the first half of the year. In addition, Deputy Prime Minister Hong announced that he would supply 311 trillion won in policy finance for small business owners and small and medium-sized enterprises this year.

He said, “This year, we plan to supply 495 trillion won, similar to last year, for the total policy finance,” he said.

He added, “This year, we will prepare a so-called ‘118 trillion won’ policy finance package to support the breakthrough of industrial competitiveness and provide strong support.”

65.8 trillion won in support for innovative growth such as the DNA (data, network, artificial intelligence) industry, the Big 3 (system semiconductor, future car, bio-health) industries, and the Korean version of the New Deal project, 31 trillion won in strengthening the competitiveness of the general manager industry, and low-carbon transition It is planning to supply 20.9 trillion won of liquidity to support facility investment such as industrial structure innovation.

This is an increase of 16 trillion won from 102 trillion won last year.

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