South Korea's financial regulator announced the National Growth Fund will finance the emerging physical AI sector, with LS Cable & System Ltd. named as the first investment. The fund aims to nurture strategic industries like AI, bio, and semiconductors.
South Korea has launched the 'National Growth Fund,' a 150 trillion won policy fund over five years, to invest in strategic industries and support startups. The fund aims to help ventures overcome financial hurdles and aims for significant tax benefits for investors.
The "National Participation Growth Fund," launched on May 22nd, has experienced overwhelming demand, with some brokerages selling out their allocated amounts within 10 minutes of sales opening. Banks also saw customers lining up before opening hours for the 'open run' phenomenon.
