South Korea to inject about $14 billion into sovereign wealth fund for strategic AI and data center investments
South Korea announced plans to inject 20 trillion won ($13.9 billion) into its sovereign wealth fund for strategic investments in AI, data centers, and infrastructure. The government will set up a strategic investment account within the Korea Investment Corporation, with initial size of at least 20 trillion won, funded by public institutions such as policy banks.
On July 31, the South Korean government announced plans to inject 20 trillion won (approximately $13.9 billion) into its sovereign wealth fund for strategic investments in artificial intelligence, data centers, and infrastructure. The government will establish a strategic investment account within the Korea Investment Corporation (KIC) with an initial size of at least 20 trillion won, with funding sources including contributions from public institutions such as policy banks. The government noted that global investor interest in South Korea is rising due to its core competitiveness in building an AI ecosystem, and that it needs to take proactive action. To attract global capital from foreign sovereign wealth funds and asset management companies, an anchor investor is required. The new account will be authorized to invest in domestic assets, expanding beyond overseas investments.
Source: 36Kr β
original