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On Thursday, South Korean Finance Minister Koo Yun-cheol announced that South Korea is set to loosen the regulations governing the separation of banking and commerce with the aim of boosting investment. Nevertheless, private entities harbor concerns that this measure will primarily serve the interests of large family-controlled conglomerates. Under the revised regulations, sizable holding companies could gain a certain level of influence over the financial sector, enabling them to secure funding for pioneering technologies. Koo Yun-cheol also disclosed that the South Korean Ministry of Finance is planning to create a new sovereign wealth fund to enhance the management of national revenues. However, he did not elaborate on the specifics of this plan.
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