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 aims to finance long-term digital infrastructure initiatives via a planned sovereign wealth fund, stated the second vice finance minister. Huh Chang made this announcement at the Asia-Pacific Economic Cooperation (APEC) Finance Ministers Meeting in Hong Kong, which took place from Tuesday to Wednesday. This proposal followed Korea's announcement earlier this year to establish a new sovereign wealth fund in 2027, with the intention of making continuous investments in innovative and strategic sectors.
During a session at the finance ministerial meeting, Huh emphasized the significance of public funding and the integration of private capital in supporting major projects in emerging growth industries. He clarified that the country intends to provide long-term patient capital, which entails investments that do not necessitate immediate returns, for digital infrastructure projects through the sovereign wealth fund. Additionally, the new fund will function as an anchor investor to draw in additional 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.
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