Seoul: The country's 26 major public institutions have made record-breaking investments in the first half of the year, the finance ministry said Wednesday, amid the government's ongoing efforts to stimulate the economy.
According to Yonhap News Agency, the public entities invested a combined total of 39.9 trillion won (US$28.9 billion) in the first six months of the year, marking an increase of 2.9 trillion won from the same period last year. This investment figure surpasses the government's initial target for the first half by 2.3 trillion won.
The government has set an annual investment goal of 66 trillion won for this year, an increase from the 63.5 trillion won earmarked last year, with 57 percent, or 37.6 trillion won, of the total originally planned to be executed in the January-June period.
"Since the government is making all-out efforts to revive the economy and stabilize people's livelihoods through extra budgets and other measures, public institutions should also swiftly carry out planned investments and projects in the second half of the year," Second Vice Finance Minister Lim Ki-keun was quoted by the ministry as saying.