Ministry of Science and ICT Signs Business Agreement to Invest 105 Billion KRW in Digital New Deal Sector

[Asia Economy Reporter Eunmo Koo] The Ministry of Science and ICT announced on the 21st that it has signed a "Memorandum of Understanding (MOU) for the Activation of Digital New Deal Investment" to promote investment in the Digital New Deal sector, including expanding Digital New Deal fund investments and discovering outstanding companies.

This MOU was prepared to expand the formation of funds focusing on investment in the Digital New Deal sector and to support the discovery and investment in innovative companies in the ICT field. Through the signing of the MOU, the Korea Post and Telecommunications Corporation and the Korea Telecommunications Operators Association (KTOA) agreed to select operators focusing on investment in the Digital New Deal sector within the year and proceed with investments totaling 105 billion KRW.

The Korea Information and Communication Promotion Association will support its member companies in discovering innovative companies in the Digital New Deal sector and linking overseas investment attraction for companies benefiting from the New Deal funds. Additionally, the Korea Venture Capital Association and the IT Investment Council will provide promotional support to encourage their members to show interest and actively invest in innovative companies in the Digital New Deal sector.

Choi Ki-young, Minister of Science and ICT, said, "Through the agreement to activate Digital New Deal investment, I ask all the representatives gathered here to work hard so that new innovative service models can be developed and ICT innovative companies can grow."