Seoul to create sovereign wealth fund, special fund for export support: finance chief

The finance ministry will push for the creation of a sovereign wealth fund and a special fund for strategic export support next year as part of efforts to boost the economy, Minister Koo Yun-cheol said Thursday. "To raise the potential growth rate (of the Korean economy) and overcome polarization, we will come up with an economic growth strategy for 2026 by the end of January," Koo said during a work report to President Lee Jae Myung, noting the strategy will be centered around six key areas. Koo said his ministry will push for the establishment of a sovereign wealth fund to effectively manage state-owned assets worth some 1,300 trillion won ($882.3 billion). The strategy will also include a plan to foster artificial intelligence (AI) transition, with a focus on physical AI. "We will work to achieve at least 1.8 percent economic growth through proactive fiscal policies and measures aimed at boosting consumption, investment and exports, while thoroughly managing the foreign exchange and real estate markets with a system to regularly monitor those markets," Koo added.Weiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times