KoFC to start 600 bln won new growth engine fund

SEOUL, Sept. 22 (Yonhap) -- State-run Korea Finance Corp. (KoFC) said Thursday it plans to create a 600 billion won (US$511 million) new growth engine fund in a bid to create more jobs and fuel industry growth.
KoFC plans to select four asset managers to cover the fund, which is set to invest in high-value service industries such as healthcare and software, it said in a statement.
The final candidates will be selected by early November, according to KoFC.
Last year, KoFC launched a 1.5 trillion won fund to boost new growth engine industries. The size of the fund was adjusted this year given the external economic uncertainties, according to a KoFC official.
mil@yna.co.kr
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