Financial Services Commission to Establish 150 Trillion Won National Growth Fund Task Force

"Supporting Mega Projects to Boost Productive Finance"

The Financial Services Commission will establish a new inter-ministerial joint body to operate the National Growth Fund, which has a scale of 150 trillion won. In addition, the commission will expand its investigative personnel for unfair trading in the capital market to revitalize the stock market.

On December 23, the Financial Services Commission announced that the amendment to the “Organization of the Financial Services Commission and Its Affiliated Agencies” was approved at the Cabinet meeting, which includes these measures.

According to the amendment, the Financial Services Commission will set up the National Growth Fund Task Force, a temporary organization with a three-year mandate. The task force will be formed as an inter-ministerial joint body, with 34 personnel from relevant ministries such as the Ministry of Trade, Industry and Energy and the Ministry of Science and ICT.

The task force will collaborate with the National Growth Fund Secretariat, which is established within Korea Development Bank, to devise financial support plans for mega-projects that have significant ripple effects on high-tech industries and regional economies.

The plan aims to strengthen the link between industry and finance not only through financial support, but also by providing a comprehensive policy package that combines regulatory, tax, and research and development (R&D) support.

Efforts to address unfair trading in the capital market will also be strengthened. The Financial Services Commission will add five more investigators to its capital market unfair trading investigation team to restore investor confidence and establish a fair market order.