BORN2GLOBAL

  • banner
  • banner
  • banner

H > News

  • USD 400M allocated for health projects in developing countries

  • MOEF

    Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki on April 27 holds a videoconference with economy ministers from around the world at Government Complex-Seoul. (Ministry of Economy and Finance)



    By Song Baleun and Lee Jihae

    The government this year will allocate from the Economic Development Cooperation Fund USD 400 million in emergency aid for health projects in developing nations related to the novel coronavirus disease (COVID-19).


    In a videoconference with economy ministers from around the world at Government Complex-Seoul, Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki on April 27 announced measures to supplement the government's foreign economic policy as a response to the pandemic. 

    He said the policy will be supplemented through the maintenance of corporate export capacity, international cooperation, boosting of cooperation with leading countries and preparation for the post-COVID-19 era.


    "We will strive to strengthen timely support for trade finance and stimulation and resolve the difficulties of corporations such as restrictions on entry to the nation and setbacks in trade. To systematically aid the discovery and planning of and bidding for large-scale projects, we will also by mid-May arrange methods to promote the winning of contracts for foreign infrastructure projects (by Korean companies)," he added.


    "Through Korea's quarantine and international cooperation, we will use the COVID-19 situation as a new opportunity to tap new markets and boost the national image, and augment solidarity and cooperation among countries."


    In addition, the minister said the government will postpone debt worth USD 110 million for 26 low-income nations, increase by nearly three-fold the capital of the Export-Import Bank of Korea's four overseas branches, which have had no capital increase for over 15 years, from USD 145 million to USD 400 million. 

    The finance minister said the government has also strengthened its strategic aid for the administration's New Southern and New Northern policies by increasing official development assistance to the level of USD 7 billion, double the amount over the past three years.


    He added that the government will also begin full-scale discussions on digital agreements like World Trade Organization negotiations on e-commerce, as COVID-19 has punctuated the importance of digital trade.

    brightsong@korea.kr




    Comments

STARTUPS OF THE WEEK

    • 1 SendBird
      Headquarters

      541 Jefferson Ave. Suite 100 SendBird, Redwood City, CA 94063

      Description

      The Simplest Solution for Chat and Messaging

    • 2 NEOFECT
      Headquarters

      West Building #401, Dankook Uni., 152, Jukjeon-ro, Suji-gu, Yongin-si, Gyeonggi-do, 16890

      Description

      Smart Glove Speeds Rehabilitation of Stroke Patients

    • 3 SMART STUDY
      Headquarters

      5F, 94, Myeongdal-ro Seocho-gu, Seoul, 06668

      Description

      Sing, Play and Learn with PINKFONG

    • 4 Lunit
      Headquarters

      169, Yeoksam-ro, Gangnam-gu, Seoul, Republic of Korea

      Description

      DIB is an imaging biomarker derived from large-sca

    • 5 SketchOn
      Headquarters

      Corporate Collaboration Center #85313, 2066, Seobu-ro, Jangan-gu, Suwon-si, Gyeonggi-do, 16419

      Description

      Harmless, Easy-to-Erase Printed Tattoos

    • 6 Riiid
      Headquarters

      29, Teheran-ro 87-gil, Gangnam-gu, Seoul, Republic of Korea

      Description

      Riiid is bring creative disruption to education market through AI technology.

    • 7 linkflow
      Headquarters

      Yugi tower 13F, Teheran-ro 69gil 5, Gangnam-gu, Seoul Korea

      Description

      Wearable 360 degree camera company

    • 8 Exosystems, Inc.
      Headquarters

      #804, 815, Daewangpangyo-ro, Sujeong-gu, Seongnam-si, Gyeonggi-do, Republic of Korea

      Description

      Exosystems provides a new paradigm of rehabilitation with the slogan-“Fun @Home, Data Driven Rehab!”

    • 9 Dable
      Headquarters

      #301, 22, Nonhyeon-ro 79-gil, Gangnam-gu, Seoul, 06237

      Description

      Explain Your Business in One Line

    • 10 Visual Camp
      Headquarters

      Startup Campus #325, 289beon-gil 20, Pangyo-ro Bundang-gu, Gyeonggi-do, 13488

      Description

      Eye Tracking Technologies for Mobile VR Devices

    • 11 4DREPLAY KOREA
      Headquarters

      3003 NORTH 1ST ST. SUITE#221 SAN JOSE, CA, 95134

      Description

      Creating Experience ─ Highly Advanced 4D Video Solution

    • 12 MOPIC
      Headquarters

      85307, corporate collaboration center, 2066 Seobu-ro, Jangan-gu, Suwon-si Gyeonggi-do, Korea 16419

      Description

      Your Breathtaking Mobile 3D Theater

    • 13 NEWRATEK
      Headquarters

      2~4F, Iksung Building, 6, Bongeunsa-ro 112-gil, Gangnam-gu, Seoul, 06170

      Description

      New Radio Communications for a New Era

    • 14 ZOYI Corporation
      Headquarters

      15F, KR Tower, 141, Teheran-ro Gangnam-gu, Seoul, 06132

      Description

      Growth Hacking for O2O Commerce

    • 15 Salted Venture
      Headquarters

      340 Nonhyeon-ro, Gangnam-gu, Seoul, 06227

      Description

      Fixing Golf Swings and Squats from the Feet

    • 16 REDTABLE
      Headquarters

      410, Startup Campus Building #3, 20, Pangyo-ro 289 beon-gil, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea

      Description

    • 17 eyedea
      Headquarters

      5F, 98, Seongmisan-ro, Mapo-gu, Seoul, 03986

      Description

      Autonomous Flying Selfie Drone

    • 18 Innomdle Lab
      Headquarters

      2F, 3, Eonnam 1-gil, Seocho-gu, Seoul, 06778

      Description

      Touch Your Sound

startups_left startups_right