Government to Uncover '13 Trillion+α' Private Investment Projects This Year

Choi Sang-dae "Will Actively Support the Groundbreaking of GTX-B and C"

[Asia Economy Sejong=Reporter Lee Jun-hyung] The government plans to discover and promote private investment projects worth more than 13 trillion won this year. The scale of private investment execution this year is expected to reach 4.35 trillion won, the largest in the past five years.

Choi Sang-dae, Vice Minister of Strategy and Finance, announced this on the afternoon of the 27th at a private investment project expert meeting held at the Korea Fiscal Information Service in Seoul. At the meeting, Vice Minister Choi said, "Private investment projects also need to actively contribute to the stable management of the macroeconomy," adding, "To this end, we will actively discover new private investment projects worth more than 13 trillion won this year."

The scale of private investment execution will also be significantly increased. The government plans to execute private investments worth 4.35 trillion won this year, an increase of 550 billion won from last year’s 3.8 trillion won. Additionally, 50.8% (2.21 trillion won) of the planned private investment for this year will be executed early in the first half of the year. This is a 6.1 percentage point increase compared to last year’s early execution ratio of 44.7%.

The government is also discovering and reviewing new tasks to revitalize private investment. Vice Minister Choi said, "We will prepare detailed improvement measures for each stage of promotion, from the project preparation stage to operation and management," and added, "Among the 'New Growth 4.0 Strategy' promotion plans announced last month, we will actively discover projects feasible for private investment, such as smart logistics centers, to enhance private sector vitality."

Vice Minister Choi also visited the GTX-A Seoul Station tunnel construction site located 40 meters underground on the same day. This is interpreted as showing support for the GTX construction, a key policy task of the current government. Vice Minister Choi said, "We will promptly hold the Private Investment Project Deliberation Committee to support the groundbreaking of the GTX-B line early next year and the GTX-C line within this year," adding, "For the GTX extension and new projects such as D, E, and F lines, we plan to actively consult with the Ministry of Land, Infrastructure and Transport once the promotion plan is prepared by June this year."

Choi Sang-dae, 2nd Vice Minister of the Ministry of Economy and Finance (third from the left in the front row), is inspecting the GTX-A Seoul Station tunnel construction site on the 27th.
[Photo by Ministry of Economy and Finance]