President Moon unveils plan to create 'digital smart fund' to invest in new industries

  • 4 years ago
문 대통령 "스마트 대한민국 펀드 조성…K-유니콘 추진"

For his first on-site event since marking three years in office, President Moon Jae-in met with the country's young entrepreneurs today.
Vowing aggressive and swift policy support for startups, the South Korean leader said his administration will focus on preparing for the post COVID-19 era by putting much emphasis on developing the non-contact digital industry.
Kim Min-ji reports.
President Moon Jae-in says South Korea will be creating a new "smart fund" to invest in new industries that can turn the country into a digital powerhouse in the post-pandemic era.
He unveiled the idea Thursday in a meeting with the founders of local startups listed on the Forbes Under 30 Asia which features young innovators and entrepreneurs across the region.
It was Moon's first on-site schedule in what is now his fourth year in office.
The government will be aggressively pushing for a Korean version of the New Deal to take the lead in industries in the non-face-to-face digital sector. I will soon let the people know of the government's plans to foster digital infrastructure and non-contact industries and to digitalize social overhead capital.
While pointing out the difficulties faced by startups Moon also announced another financial package worth 1-point-8 billion U.S. dollars.
He also vowed all out efforts to grow local startups into global unicorns that is, private companies valued at over one billion dollars.
The support package will seek out potential startups to provide them with funding and guarantees and to help them discover markets. The government will help innovative ideas become commercialized and will put them on the global stage.
The president said innovation to create new jobs and breathe life into the economy is no longer just an option but is a must.
He called for continued efforts from young entrepreneurs,... to turn the crisis into an opportunity.
Kim Min-ji, Arirang News.

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