Korea Development Bank (KDB) Chairman Park Sang-jin said on the 13th that demand for investment in the Public Growth Fund, which will support 150 trillion won over five years for advanced strategic industries such as semiconductors and artificial intelligence (AI), has exceeded 150 trillion won.
Park said at the Financial Services Commission public institutions work report held at the Government Complex Seoul annex on the afternoon of the 13th, "Our goal is to approve 30 trillion won this year, but if industry needs more, we will consider additional approvals."
Financial Services Commission Chairman Lee Eog-weon said, "At first, the focus was on how to raise funds; now, it is on how to select the right projects—having sound judgment to choose well is crucial."
Park said, "Among domestic financial institutions, we can confidently say we have a deep understanding of industry," adding, "We are preparing that diligently to make sure we succeed." KDB recently hired 10 external private-sector experts and is pushing to overhaul its performance evaluation system to create synergy not only with the secretariat's internal staff but also with the bank's employees.
He added, "There are two stages of review by the Fund Management Deliberation Committee and the Investment Deliberation Committee, and for mega projects, each financial institution goes through screening processes such as investment review and loan review," saying, "We will manage this carefully so it is not used as 'corruption funds,' as the president said."