South Korea will establish a strategic investment account to invest in strategic industries

Odaily Planet Daily News South Korea has shelved a plan to establish an independent sovereign wealth fund, which was originally intended to follow 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 Finance stated that the account will invest in areas at home and abroad that are crucial to national competitiveness and economic security. Investment targets will cover strategic industries such as nuclear energy and aerospace, core areas like finance and infrastructure, as well as overseas supply chains. (Jin Shi)