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South Korea is set to allocate a minimum of 20 trillion won (roughly equivalent to $13.9 billion) to its sovereign wealth fund. This move is aimed at facilitating strategic investments in key sectors, including artificial intelligence, data centers, and infrastructure. In the wake of a substantial downturn in tech stocks, the investment scope of the fund has been broadened for the inaugural time, enabling it to invest in local assets. The South Korean government will set up a specialized account within the Korea Investment Corporation, with the necessary funds being sourced from equity stakes contributed by public entities, such as policy banks. Lately, the South Korean stock market has witnessed a steep decline, compelling the government to roll out a series of initiatives to stabilize the market situation.
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