South Korean Finance Minister Koo Yun-cheol, who serves concurrently as the deputy prime minister for economic affairs, attends a task force meeting of economy-related ministers over price controls related to people's livelihoods at the government complex in Seoul, South Korea, 31 July 2026. Photo by YONHAP / EPA
July 31 (Asia Today) -- South Korea will launch a strategic investment fund worth more than 20 trillion won, or about $13.6 billion, next year to provide long-term capital to artificial intelligence, semiconductor and other industries considered vital to national security and economic growth.
The government said Friday that it would establish a separate strategic investment account within the Korea Investment Corporation rather than create an independent sovereign wealth fund.
Deputy Prime Minister and Finance and Economy Minister Koo Yun-cheol announced the plan during an emergency economic meeting and a meeting of economic ministers at the Government Complex Seoul.
The new account will use KIC's international investment network and asset-management expertise while expanding the corporation's mandate beyond its traditional role of investing public foreign-exchange assets overseas.
