韩国 will establish a strategic investment account to invest in strategic industries

Odaily Odaily Planet Daily News South Korea has shelved a plan to establish an independent sovereign wealth fund, which was originally intended to emulate the models of Singapore's Temasek Holdings and Australia's Future Fund. Instead, South Korea will set up a strategic investment account within the Korea Investment Corporation (KIC). The Ministry of Economy and Finance stated that the account will invest in domestic and foreign areas crucial to national competitiveness and economic security. Investment targets will cover strategic industries such as nuclear energy and aerospace, core areas including finance and infrastructure, and overseas supply chains. (Jin Shi)