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South Korea to Establish Strategic Investment Account for Key Industries

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On July 15, 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 Finance stated that this account will invest in areas critical to national competitiveness and economic security, both domestically and internationally. Investment targets will include strategic industries such as nuclear energy and aerospace, as well as core sectors like finance and infrastructure, along with overseas supply chains. (Jinshi)
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