National Growth Fund to provide KRW 1 trillion in support for five projects, including offshore wind and manufacturing

The Financial Services Commission has decided to provide about 1 trillion won in funding through the National Growth Fund for five projects, including the Yawol Offshore Wind Power Generation Project. The decision was made on the 17th at the Fund Management Deliberation Committee. The Yawol Offshore Wind Power project is a project to build and operate a 104MW wind farm offshore near Nakwolmyeon, Yeonggwanggun, Jeollanamdo, and Hana Bank and Industrial Bank of Korea participated in the discovery phase. Of the total project cost of 757 billion won, 130 billion won will be supported through advanced strategic industry fund project finance loans, while the remainder will be covered by private financial institutions and the power generator. In addition, funding was approved for Dnsolutions' transition of manufacturing to artificial intelligence, Hwashin's expansion of its electric vehicle battery pack case production line, PKC's localization of special gases for semiconductors, and Konek's construction of massproduction facilities for lightweight structural frames for humanoids. The FSC also decided to newly establish a Risk Management Committee and a PostManagement Committee to review concerns over insolvency after the disbursement of funds and methods of recovery.