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Finance Committee Chairman Eun Seong-soo said on the 3rd: “It is not a guarantee of principal, but has the effect of guaranteeing principal.”
President Eun responded to the question at a briefing on setting up a New Deal Fund held at the Seoul Government Complex on the same day: “ While it has been expressed that the New Deal Fund has been seeking collateral from the principal , Is it promising a main guarantee? ‘
He explained: “The government finances subordinate to the children’s fund with an average of 35%, which means that the fund absorbs all losses until the fund invests and loses 35%.”
He said: “It does not specify the principal’s guarantee, but there is enough character to guarantee the principal after the fact.”
For example, in the case of a policy-type New Deal Fund of 100 billion won, which was invested by the government and political financial institutions as subordinates of 35 billion won, investors can recover all of the 65 billion won even if the fund loses 30%.
President Eun also said, “The risk of oil development and the like is too great, but I cannot imagine that the digital New Deal project will suffer such losses because the other party is a public institution.” It is a subordinated investment ”.
Vice Premier Hong Nam-ki also said: “The government does not guarantee the principal, but it has a similar effect and character as the government.”
However, not all sub-funds are 35% funded.
Vice Premier Hong said: “Depending on the nature of the fund (financial fund contribution), there is a difference of 20% for some and 40% for some,” he said. “The way to cover losses can vary depending on the percentage of government funds and political financial institutions in the fund. There is,” he added.
The government, meanwhile, released press reference material this afternoon and said: “The risks to the public sector when operating a political-type New Deal Fund vary depending on the business nature and structure of the specific New Deal project, but the prime finance charge ratio should be based on 10%. “I’m going to.”
He said: “If additional risk burden is required, we plan to determine a specific risk-sharing ratio within the 7 trillion won policy fund range (government 3 trillion won, policy financial institution 4 trillion won) in consultation. with financial policy institutions “.
A government official said: “We plan to subordinate an average of 10% as government funds, and funds from policy finance institutions generally have a medium priority, but depending on the fund, they may equal private funds.” “Not all public sector funds are subordinate,” he said.
/ yunhap news
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