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SEOUL, May 6 (Yonhap) -- The government will launch a fund of up to 600 billion won (US$412 million) later this month to help funnel more loans to firms specializing in artificial intelligence (AI) and other high-tech sectors, officials said Wednesday.
According to the Financial Services Commission (FSC), the fund, with an initial size of at least 600 billion won, will be sold from May 22 to June 11 via banks and brokerages.
The fund aims to encourage banks and brokerages to make more loans to high-tech firms in the AI field, rechargeable batteries, hydrogen, biotechnology and other related industries, the FSC said.
The fund is initially designed to place more burden on the government in case of investment losses, but there will be some restrictions for investors if they seek gains, according to the FSC.
The emblem of the FSC (Yonhap)
kdh@yna.co.kr
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