Hong Nam-ki "Policy-type New Deal Fund Presents Investment Cases in 40 Sectors and 197 Items" (Comprehensive)

17th Emergency Economic Central Countermeasures Headquarters Meeting on the 28th

[Asia Economy Reporters Kim Hyun-jung and Jang Se-hee] Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki revealed the investment target guidelines for the policy-type New Deal Fund on the 28th.

On the same day, Deputy Prime Minister Hong held the 4th Korean New Deal Ministerial Meeting and the 17th Central Disaster and Safety Countermeasure Headquarters meeting at the Government Seoul Office, stating, "Based on the common standards for innovative growth, we have presented 40 sectors and 197 items as examples, and we will allow investments in the upstream and downstream industries of companies and projects as well."

He added, "We will complete the preparatory work for the policy-type New Deal Fund within this year so that it can be established early next year."

The scope of investment for the New Deal Infrastructure Fund will also be clarified. Deputy Prime Minister Hong explained, "We have prepared and presented specific examples of various infrastructure related to digital and green sectors, economic activities, and social services," and "We have established procedures for the New Deal Infrastructure Deliberation Committee to make the final decision on individual infrastructure designation applications."

Regarding the recent economic trend, Deputy Prime Minister Hong said, "Due to the resurgence of COVID-19, the rebound in the third quarter will be significantly limited," and added, "In the fourth quarter, we will focus on comprehensive final responses in finance, investment, and exports to ensure recovery momentum."

The government announced that the '2020 Korea Sale Festa' will be held over two weeks from November 1 to 15.

He emphasized, "We plan to conduct a safe event centered on online and non-face-to-face activities by establishing a thorough quarantine system through close consultation with quarantine authorities and local governments." He also said, "Through promotional events by region, we will contribute to the recovery of local small businesses and regional economies."

Meanwhile, the government stated that it is preparing customized measures for essential workers by occupation.

Deputy Prime Minister Hong said, "The government is reviewing measures focused on protecting essential workers from COVID-19 and industrial accident risks, improving working conditions, strengthening social safety nets, and providing occupation-specific tailored policy support so that they can work with pride and dignity."

He added, "We aim to bring forward a society where essential workers can receive appropriate treatment and consideration, even if only a little sooner."