South Korea Unveils $14B Sovereign Fund to Back AI, Data Centers
South Korea plans a KIC investment account for AI, data centers, chips, and strategic industries, but the government has not set its funding size. The post South Korea Unveils $14B Sovereign Fund to Back AI, Data Centers appeared first on TechRepublic .
South Korea announced plans for a new KIC investment fund with an initial capital of at least 20 trillion won, or $14 billion. The Korea Investment Corporation (KIC) will allocate funds towards AI, data centers, infrastructure, and other strategic sectors like semiconductors, robotics, biotechnology, and energy projects. The government aims to have the fund operational next year following the approval of legal revisions in Parliament.
This sovereign fund seeks to bolster national competitiveness, draw in investments from global sovereign wealth funds and institutional investors, and contribute to the country's efforts to secure semiconductor capacity and advanced technology supply chains.
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