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Public firms urged to quickly implement planned investment this year

All Headlines 11:36 August 08, 2019

SEJONG, Aug. 8 (Yonhap) -- South Korea's finance ministry on Thursday called for public firms to fully carry out their planned investments of 54 trillion won (US$44.6 billion) in the latest attempt to boost Asia's fourth-largest economy.

Lee Seung-chul, deputy minister for fiscal affairs of the Ministry of Economy and Finance, said investments by the public companies could help revitalize the economy amid an escalating trade war between the United States and China, and Japan's export curbs.

In January, the ministry said the Korea Electric Power Corp., South Korea's state utility company, the Korea Land & Housing Corp. and other public companies will invest a combined 53 trillion won this year, up 9.5 trillion won from a year earlier.


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