Ministry of Land, Infrastructure and Transport Completes Overseas Construction Fund of 1.1 Trillion Won.. "Commences Financial Support for Overseas Projects"

[Financial News] The Ministry of Land, Infrastructure and Transport has completed a large-scale policy fund to support overseas construction investment development projects and is embarking on financial support for overseas projects.
The Ministry announced on the 4th that it has completed the creation of the second phase of the Global Plant, Infrastructure, and Smart City (PIS) fund, totaling 1.1 trillion won last month, and plans to fully support financial support for overseas investment development projects through this.
This fund was prepared by matching 6.6 trillion won in private capital with a 4.4 trillion won mother fund funded by the government and public institutions. The operation is divided into △ a blind fund (7 trillion won) that gathers investors to first create the fund and then discover projects, and △ a project fund (4 trillion won) that raises funds and invests simultaneously with the discovery of projects.
Additionally, the blind fund is operated in three types of funds: order reinforcement, order vitality, and overseas advanced, and is utilized to support overseas exports and orders of our companies in various countries from emerging to advanced countries. The project fund allows for immediate creation and investment upon the discovery of individual projects without restrictions on specific countries, enabling rapid financial support.
The first phase of the PIS fund, launched in 2019 (1.5 trillion won), invested in 29 projects in 13 countries, driving overseas orders and exports worth approximately 2.2 billion dollars (3.1 trillion won). The order market, which was concentrated in the Middle East and Southeast Asia, is evaluated to have contributed to business diversification by expanding to advanced countries such as the United States and Europe.
Nam Young-woo, Director General of Construction Policy at the Ministry of Land, Infrastructure and Transport, said, "Last year, we achieved 1 trillion dollars in overseas construction orders, and the key driver to lead the era of 2 trillion dollars in overseas construction orders will be overseas investment development projects," adding, "The PIS second phase fund will secure financial competitiveness and lead our companies' entry into overseas investment development projects."

en1302@fnnews.com Jang In-seo Reporter