South Korea plans to invest more than 1 trillion won in additional capital in a new sovereign wealth fund next year, focusing on artificial intelligence and other strategic industries, following the actions of many governments around the world, and mobilizing investment strength in order to gain a competitive advantage in the high-tech field. South Korea's Deputy Minister of Finance Min Kyung-seol, who is responsible for innovation and growth, said in an interview with the media on Tuesday: “Details are not easy to disclose, but next year's investment may range from 600 billion won to more than 1 trillion won.” He said that the final investment amount may exceed the initial estimate depending on the selected investment targets and their capital requirements. Min Kyung-seol said that at this stage, the fund has no plans to directly invest in Samsung Electronics and SK Hynix. These two chip companies are already the core pillars of the global artificial intelligence wave. Korea announced last month that it will inject 20 trillion won into the Korea Investment Corporation to invest in artificial intelligence, data centers, and infrastructure. According to the report, this newly established fund will assume independent strategic investment functions and operate in parallel with the traditional foreign exchange reserve management business of the Korea Investment Corporation.

South Korea plans to invest more than 1 trillion won in additional capital in a new sovereign wealth fund next year, focusing on artificial intelligence and other strategic industries, following the actions of many governments around the world, and mobilizing investment strength in order to gain a competitive advantage in the high-tech field. South Korea's Deputy Minister of Finance Min Kyung-seol, who is responsible for innovation and growth, said in an interview with the media on Tuesday: “Details are not easy to disclose, but next year's investment may range from 600 billion won to more than 1 trillion won.” He said that the final investment amount may exceed the initial estimate depending on the selected investment targets and their capital requirements. Min Kyung-seol said that at this stage, the fund has no plans to directly invest in Samsung Electronics and SK Hynix. These two chip companies are already the core pillars of the global artificial intelligence wave. Korea announced last month that it will inject 20 trillion won into the Korea Investment Corporation to invest in artificial intelligence, data centers, and infrastructure. According to the report, this newly established fund will assume independent strategic investment functions and operate in parallel with the traditional foreign exchange reserve management business of the Korea Investment Corporation.