Korea Development Bank said on Jan. 13 at a Financial Services Commission briefing that it will provide 250 trillion won in support over the next five years to back a major leap in the domestic economy and industry.
The bank will provide a total of 250 trillion won over the next five years for operating the National Growth Fund (25 trillion won), strengthening competitiveness in advanced and future strategic industries such as AI (100 trillion won), expanding regional finance for balanced national growth (75 trillion won), and industrial upgrades and a green energy transition (50 trillion won).
It will also implement a 25 trillion won National Growth programme over the next five years to create synergies with the National Growth Fund, based on corporate finance know-how accumulated at the bank. The National Growth Fund will be operated transparently under a dual screening system.
Park Sang-jin, chairman of Korea Development Bank, said the National Growth Fund is designed to undergo rigorous reviews in two stages, by an investment review committee and a fund management review committee. He said he will do his utmost to manage it so it is not used as a source of corruption.
Ji-young Lee
ljy@d-today.co.kr