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Jincheon Establishes KRW 10 Bn of Fund of Fund

(JINCHEON=NEWSIS) Jincheon County will establish a KRW 10 billion worth of fund of fund from 2015 to 2019.


The county signed a business agreement with Central Investment Partners Co., Ltd. on January 30.

The investment comprises KRW 7 billion of national expense (KRW 1.4 billion annually), KRW 1.5 billion of local expense (KRW 300 million annually) and KRW 1.5 billion of private capital (KRW 300 million annually).

The county expects the fund of fund will develop foundation for agricultural production and revitalize the regional economy, which will ultimately create more jobs and expand the agricultural products market.

"The fund of fund will contribute to the development of the agricultural industry where farmers can enjoy a rich and abundant lifestyle," said County Mayor You Young-Hoon.

Source Text

Source: Newsis (January 30, 2015)

** This article was translated from the Korean.