Politics
Korea Plans $14 Billion for Wealth Fund’s AI Bets After Rout
Key Points
Korea Plans $14 Billion for Wealth Fund’s AI Bets After Rout South Korea plans to inject 20 trillion won ($13.9 billion) into its sovereign wealth fund for strategic investments in AI, data centers and infrastructure, expanding its mandate to include domestic assets for the first time following a rout in technology stocks. The government will create the account within the Korea Investment Corporation, according to a statement on Friday. It will start with a minimum of 20 trillion won funded...
Korea Plans $14 Billion for Wealth Fund’s AI Bets After Rout
South Korea plans to inject 20 trillion won ($13.9 billion) into its sovereign wealth fund for strategic investments in AI, data centers and infrastructure, expanding its mandate to include domestic assets for the first time following a rout in technology stocks.
The government will create the account within the Korea Investment Corporation, according to a statement on Friday. It will start with a minimum of 20 trillion won funded through sources including equity contributions from public institutions such as policy banks, the statement said.