TechFlow news, July 15, South Korea has shelved a plan to establish an independent sovereign wealth fund, which was originally intended to emulate the models of Singapore's Temasek Holdings and Australia's Future Fund. Instead, South Korea will establish a strategic investment account within the Korea Investment Corporation (KIC). The South Korean Ministry of Finance stated that the account will invest in areas crucial to national competitiveness and economic security both domestically and internationally. Investment targets will cover strategic industries such as nuclear energy and aerospace, core sectors like finance and infrastructure, as well as overseas supply chains. (Jin10)
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