The finance ministry will push for the creation of a sovereign wealth fund and a special fund for strategic export support next year as part of efforts to boost the economy, Minister Koo Yun-cheol said Thursday.
"To raise the potential growth rate (of the Korean economy) and overcome polarization, we will come up with an economic growth strategy for 2026 by the end of January," Koo said during a work report to President Lee Jae Myung, noting the strategy will be centered around six key areas.
Koo said his ministry will push for the establishment of a sovereign wealth fund in the first half, benchmarking similar funds in Singapore and Australia.
The ministry will also devise measures to effectively manage state-owned properties, currently worth some 1,300 trillion won (US$882.3 billion), to expand public housing and foster the growth of strategic industries, such as artificial intelligence (AI) and renewable energy.
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