Seoul eyes long-term digital infrastructure projects via sovereign wealth fund
SEJONG — Korea plans to provide patient capital for long-term digital infrastructure projects through the country's planned sovereign wealth fund, the second vice finance minister has said. Second Vice Finance Minister Huh Chang outlined the plan during the Asia-Pacific Economic Cooperation (APEC) Finance Ministers' Meeting held in Hong Kong from Tuesday to Wednesday, according to the Ministry of…
Seoul is considering utilizing a planned sovereign wealth fund to finance long-term digital infrastructure projects, according to the second vice finance minister. This proposal was discussed at the Asia-Pacific Economic Cooperation (APEC) Finance Ministers Meeting, which took place in Hong Kong from Tuesday to Wednesday. Huh Chang, the second vice finance minister, made these remarks following Korea's announcement earlier this year to establish a new sovereign wealth fund in 2027.
The primary objective of this fund is to make continuous investments in cutting-edge and strategic industries.
During a session at the finance ministerial meeting, Huh emphasized the significance of public funding and the mobilization of private capital in undertaking major projects related to future growth industries. He stated that the country intends to provide long-term patient capital, which refers to investments that do not necessitate immediate returns, for digital infrastructure projects through the sovereign wealth fund. Additionally, the new fund will act as an anchor investor to attract further investments.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
