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South Korea will set up a strategic investment account to invest in strategic industries

金色财经_
Golden Finance reported that on July 15, South Korea has shelved a plan to establish an independent sovereign wealth fund, which was originally intended to emulate the model 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 of South Korea said the account will invest in domestic and overseas areas that are crucial to national competitiveness and economic security. The investment targets will cover strategic industries such as nuclear energy and aerospace, as well as core areas including finance and infrastructure, and overseas supply chains. (Jin10)
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