August 25, 2019

President Moon Bets His Own Money on a Korean Victory Over Japan
(Bloomberg) -- South Korea President Moon Jae-in will invest in a local equity fund that bets on companies the government is supporting amid its trade dispute with Japan.Moon will invest an unspecified amount in the NH-Amundi Victorious Korea Equity Fund, the presidential office said in a statement Monday. The fund, started on Aug. 14 with about $24 million, invests in Korean suppliers that may benefit from Japan’s export curbs on key materials needed for the semiconductor industry.The president said Korean parts and materials suppliers should develop more so that the economy isn’t “affected by external factors,” according to the presidential office. The semiconductor industry accounts for nearly 20% of total exports in Korea’s export-driven economy.Read here: What the Japan-Korea Feud Means for Companies, Markets, GrowthThe Moon administration on Aug. 7 announced it would spend $6 billion on R&D for local companies that develop key materials, parts and equipment for the nation’s manufacturing industry. A number of Korean stocks have rallied recently on hopes that they may win more orders from industrial leaders including Samsung Electronics Co. and SK Hynix Inc. amid Japan’s restrictions.The feud with Japan over colonial-era grievances has snowballed over the past two months and shows no signs of abating. South Korea last week withdrew from a key intelligence-sharing pact, and its armed forces started training Sunday near islands that both nations claim. The benchmark Kospi index is down 10% since the end of June, more than double the decline in the MSCI All-Country World Index.This isn’t the first time a Korean president has invested in a local equities to promote an economic agenda. Roh Moo-hyun invested 80 million won in several funds targeting Kosdaq index stocks in July 2005 in order to support small- and medium-sized firms, according to JoongAng Ilbo. The tech-heavy gauge surged 85% that year.To contact the reporters on this story: Heejin Kim in Seoul at hkim579@bloomberg.net;Jihye Lee in Seoul at jlee2352@bloomberg.netTo contact the editors responsible for this story: Lianting Tu at ltu4@bloomberg.net, Kurt Schussler, Margo TowieFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Related Stories
Latest News
Top news around the world
Coronavirus Disease

Coronavirus disease (COVID-19) is an infectious disease caused by a newly discovered coronavirus.

Most people infected with the COVID-19 virus will experience mild to moderate respiratory illness and recover without requiring special treatment. Older people, and those with underlying medical problems like cardiovascular disease, diabetes, chronic respiratory disease, and cancer are more likely to develop serious illness.

Around the World

Celebrity News

> Latest News in Media

Watch It
Kourtney Kardashian & Travis Barker Are ENGAGED
October 17, 2021
PeL88fYrQ8g
Kate Middleton Stuns in Throwback Dress From 10 Years Ago
October 17, 2021
6mgB2_e-fS8
Blake Lively Trolls Ryan Reynolds After His Major Career News
October 17, 2021
MAXNG2bO0Qs
Kim Kardashian and Kanye Likely Won't Reconcile, She Now Owns Family Home | TMZ TV
October 15, 2021
attkYidh_Z8
Joe Rogan Stands Up to CNN | The TMZ Podcast
October 15, 2021
WgmPhCjlGoc
'The Masked Singer' Jester Costume Bulge Too Hot for TV | TMZ TV
October 15, 2021
0lnS7Gmu7O8
Jamie Lee Curtis talks 'Halloween Kills' and Laurie Strode's Legacy
October 14, 2021
-xyHjfTA2SY
Nicholas Braun, Jeremy Strong, Brian Cox and the cast of ‘Succession’ on the Red Carpet
October 14, 2021
O19yMBvhR48
Dave Chappelle Ignites Controversy, 'Halloween Kills' Hits Theaters | The Take
October 14, 2021
xOIUz0WuFS8
Disick ‘going crazy’ over Kourtney Kardashian, Travis Barker engagement | Page Six Celebrity News
October 18, 2021
JWOqwRAFNhI
Vicki Gunvalson accuses ex Steve Lodge of cheating, lying and using her | Page Six Celebrity News
October 15, 2021
3RB_p9_FZ-Y
Katey Sagal hit by car while crossing the street, taken to hospital | Page Six Celebrity News
October 15, 2021
5kT2IIVMy0o
TV Schedule
Late Night Show
Watch the latest shows of U.S. top comedians

Sports

Latest sport results, news, videos, interviews and comments
Latest Events
19
Nov
ASIAN CHAMPIONS LEAGUE: Group H
Sydney FC - Shanghai SIPG
17
Nov
UEFA NATIONS LEAGUE A: Group Stage
Spain - Germany
14
Nov
UEFA NATIONS LEAGUE A: Group Stage
Germany - Ukraine
08
Nov
ENGLAND: Premier League
Manchester City - Liverpool
08
Nov
ENGLAND: Premier League
Arsenal - Aston Villa
08
Nov
SPAIN: La Liga
Valencia - Real Madrid
08
Nov
ITALY: Serie A
AC Milan - Verona
08
Nov
ENGLAND: Premier League
West Bromwich Albion - Tottenham Hotspur
08
Nov
ITALY: Serie A
Bologna - Napoli
08
Nov
ITALY: Serie A
Genoa - Roma
08
Nov
ITALY: Serie A
Atalanta - Inter Milan
08
Nov
ITALY: Serie A
Lazio - Juventus
08
Nov
GERMANY: Bundesliga
Bayer Leverkusen - Borussia Monchengladbach
08
Nov
ENGLAND: Premier League
Leicester City - Wolves
08
Nov
GERMANY: Bundesliga
Wolfsburg - Hoffenheim
08
Nov
SPAIN: La Liga
Real Valladolid - Athletic Bilbao
08
Nov
SPAIN: La Liga
Levante - Alaves
08
Nov
SPAIN: La Liga
Real Sociedad - Granada CF
08
Nov
ITALY: Serie A
Torino - Crotone
08
Nov
SPAIN: La Liga
Getafe - Villarreal
07
Nov
GERMANY: Bundesliga
Borussia Dortmund - Bayern Munich
07
Nov
ENGLAND: Premier League
Everton - Manchester United
07
Nov
ENGLAND: Premier League
Chelsea - Sheffield United
07
Nov
SPAIN: La Liga
Atletico Madrid - Cadiz
07
Nov
SPAIN: La Liga
Barcelona - Real Betis
07
Nov
GERMANY: Bundesliga
Augsburg - Hertha Berlin
07
Nov
GERMANY: Bundesliga
Stuttgart - Eintracht Frankfurt
07
Nov
GERMANY: Bundesliga
RB Leipzig - SC Freiburg
07
Nov
ENGLAND: Championship
Rotherham - Preston NE
07
Nov
ITALY: Serie A
Parma - Fiorentina
07
Nov
ENGLAND: Championship
Watford - Coventry
07
Nov
ENGLAND: Championship
Norwich City - Swansea City
07
Nov
ENGLAND: Championship
Blackburn - QPR
07
Nov
ENGLAND: Championship
Derby County - Barnsley
07
Nov
ENGLAND: Championship
Huddersfield - Luton
07
Nov
ENGLAND: Championship
Nottingham Forest - Wycombe Wanderers
07
Nov
ENGLAND: Premier League
West Ham United - Fulham
07
Nov
ENGLAND: Championship
Sheffield Wednesday - Millwall
07
Nov
ENGLAND: Championship
Brentford - Middlesbrough
07
Nov
ENGLAND: Championship
Birmingham - Bournemouth
07
Nov
SPAIN: La Liga
Sevilla - Osasuna
07
Nov
ITALY: Serie A
Benevento - Spezia
07
Nov
ENGLAND: Premier League
Crystal Palace - Leeds
04
Nov
CHAMPIONS LEAGUE: Group stage, Group G
Ferencvaros - Juventus
04
Nov
CHAMPIONS LEAGUE: Group stage, Group G
Barcelona - Dynamo K.
03
Nov
CHAMPIONS LEAGUE: Group stage, Group A
Salzburg - Bayern Munich
03
Nov
CHAMPIONS LEAGUE: Group stage, Group D
Atalanta - Liverpool
Find us on Instagram
at @feedimo to stay up to date with the latest.
Featured Video You Might Like
zWJ3MxW_HWA L1eLanNeZKg i1XRgbyUtOo -g9Qziqbif8 0vmRhiLHE2U JFCZUoa6MYE UfN5PCF5EUo 2PV55f3-UAg W3y9zuI_F64 -7qCxIccihU pQ9gcOoH9R8 g5MRDEXRk4k
Copyright © 2020 Feedimo. All Rights Reserved.