South Korea is expected to deploy 1 trillion won of new capital to a new sovereign wealth fund targeting strategic industries such as AI next year, joining the ranks of global governments mobilizing investment and seizing opportunities in the high-tech sector. “It's hard to give specific details right now, but next year's investment may be between 600 billion and over 1 trillion won,” Min Kyung-seol, South Korea's Deputy Finance Minister, who is responsible for innovation and growth, said in an interview with the media on Tuesday. The final investment amount is likely to exceed initial expectations, he said, depending on what goals are determined and their funding requirements. He said the fund will also target infrastructure such as robots, energy and batteries, and power grids. Nuclear energy, space, and quantum technologies are also being considered. Min said that sovereign wealth fund and pension fund investors from the Middle East, Europe and North America have reached out to the Korean government to explore the possibility of investing in South Korea and co-investing in new funds. He declined to reveal the identity of the specific investors, saying discussions are still in the early stages.

South Korea is expected to deploy 1 trillion won of new capital to a new sovereign wealth fund targeting strategic industries such as AI next year, joining the ranks of global governments mobilizing investment and seizing opportunities in the high-tech sector. “It's hard to give specific details right now, but next year's investment may be between 600 billion and over 1 trillion won,” Min Kyung-seol, South Korea's Deputy Finance Minister, who is responsible for innovation and growth, said in an interview with the media on Tuesday. The final investment amount is likely to exceed initial expectations, he said, depending on what goals are determined and their funding requirements. He said the fund will also target infrastructure such as robots, energy and batteries, and power grids. Nuclear energy, space, and quantum technologies are also being considered. Min said that sovereign wealth fund and pension fund investors from the Middle East, Europe and North America have reached out to the Korean government to explore the possibility of investing in South Korea and co-investing in new funds. He declined to reveal the identity of the specific investors, saying discussions are still in the early stages.