President Moon Jae-in on Aug. 26, 2019, visits the main branch of NH Bank to learn about the Victorious Korea Equity Fund, which invests in the domestic materials, parts and equipment sectors. (Yonhap News)

By Elena Kubitzki and Lee Hana

President Moon Jae-in has pledged to invest KRW 50 million in a Korean New Deal fund using profits earned from his investment in a fund supporting the domestic materials, parts and equipment sectors.

Cheong Wa Dae Spokesperson Kang Min-seok on Jan. 13 told a briefing that the president's investment in the Victorious Korea Equity Fund on Aug. 26, 2019, saw a 90% return and that he will invest this profit and additional seed money into five new funds for the Korean New Deal.

A combined KRW 50 million will be invested in five funds at KRW 10 million each in the digital and green sectors and the investment activities of small and medium companies. 

The funds are Samsung Asset Management's Samsung New Deal Korea Fund, KB Asset Management's KB Korea New Deal Fund, Shinhan BNPP's Beautiful SRI Green New Deal Security Feeder No. 1, Mirae Asset's Tiger BBIG K-New Deal ETF and NH-Amundi's Hanaro K-New Deal Digital Plus ETF.

Spokesperson Kang said that through this investment, the president sent a message that the fruits of overcoming the export crisis achieved through cooperation by Korean conglomerates and smaller businesses are being reinvested in the nation's future.

In his New Year's address, the chief executive said, "The full-fledged implementation of the Korean New Deal will bring about changes in every corner of the country," adding, "The Digital and Green new deals will change the quality of people's lives."

elenakubi@korea.kr