Presidential office to unveil plan to create $120 bil. fund for high-tech industries
President Lee Jae Myung speaks during a Cabinet meeting held at the presidential office in Seoul, Tuesday. Yonhap
The presidential office said Wednesday it will host a public presentation to unveil a plan for a 150 trillion-won ($120 billion) public-private fund to support investment in artificial intelligence (AI) and other advanced industries.
The so-called "Public Growth Fund," one of President Lee Jae Myung's key economic pledges, has been expanded from the initial proposal of 100 trillion won.
The government plans to establish the fund with private investment to accelerate AI adoption across sectors and channel resources into strategic industries, such as semiconductors, biotechnology and energy.
The announcement will bring together the ministers of finance, science and ICT, and industry, along with business leaders, including SK Chairman Chey Tae-won, Celltrion CEO Seo Jung-jin, Samsung Electronics President Park Seung-hee and FuriosaAI CEO Baek Joon-ho.