Pres. Moon promises more financial support for businesses with strong potential

Pres. Moon promises more financial support for businesses with strong potential
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President Moon Jae-in announced a new set of plans to better support the finance sector.
He has repeatedly emphasized that finance is the key to achieving innovative growth.
Park Hee-jun has our to story.
President Moon Jae-in has promised to provide around 89 billion U.S. dollars to innovative small and mid-sized companies over the next three years,... through the reform of credit rating procedures.
This came during a meeting with business leaders and government officials in Seoul on Thursday,... aimed at exchanging ideas on ways to foster innovative growth in the finance sector.
"Innovative finance is the artery of venture companies and SMEs. The heart of innovation can beat when finance can reach it."
The president highlighted the need to evaluate firms by their ideas and technology.
He said those with strong potential in such areas will receive higher credit ratings.
Unlike in the past, they will no longer be evaluated according to real estate.
The government will also make it easier for firms to get listed on the KOSDAQ,... through applying new standards that reflect their source technology and funding potential.
With that, he expects 80 more innovative companies to be listed on the exchange within three years.
The president has also vowed to support the manufacturing and service sectors with sufficient funding.
53 billion dollars of policy funds will be invested in promising service sectors, including tourism and health and medicare... which, according to President Moon,... should ultimately create 130-thousand new jobs.
"President Moon says such measures are necessary to build a strong finance sector,... which he says is the key to leading the fourth industrial revolution. At the core of his plan is making sure that businesses with innovative ideas and technology get the chance that they deserve. Park Hee-jun, Arirang News."

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