BlockBeats News, July 15th, South Korea has shelved a plan to establish a standalone 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 create a strategic investment account within the Korea Investment Corporation (KIC).
The South Korean Ministry of Economy and Finance stated that this account will invest in key areas vital to the country's competitiveness and economic security, including strategic industries such as nuclear energy and aerospace, core sectors like finance and infrastructure, and overseas supply chains.
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