S.Korea plans to create $17 bln fund for 'New Deal' economic initiatives

South Korea's finance ministry said on Thursday the government plans to create a 20 trillion won ($16.8 billion) fund over the next five years for President Moon Jae-in’s "New Deal" program.

The fund, aimed at financing economic initiatives that invest in technology sectors for jobs and growth, will be partly financed by policy banks as well as retail investors who will be invited to make investments, the ministry said. ($1 = 1,187.6300 won)