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S. Korea to Create $2.6 Billion Fund to Help Builders

Write: 2019-04-17 15:58:24Update: 2019-04-17 16:45:45

S. Korea to Create $2.6 Billion Fund to Help Builders

Photo : YONHAP News

The government will establish a fund worth three trillion-won, or roughly two-point-six billion dollars, to assist South Korean construction companies with their overseas projects. 

Finance Minister Hong Nam-ki revealed the plan on Wednesday during a meeting aimed at reinvigorating the Korean economy.

Hong said the "Global Plant Fund" will bring the economic impact of winning four-billion dollars worth of construction contracts, kick-starting some 80 development and investment projects.

The fund will be operated by the Korea Overseas Infrastructure & Urban Development Corporation.

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