Gov't to launch $412 mil. state-backed fund for retail investors in AI, chip industries

Retail investors will soon be able to invest in a government-backed investment fund aimed at fostering next-generation industries such as artificial intelligence (AI), semiconductors and biotechnology, officials said Wednesday. Of the broader 150 trillion won ($ 103.4 billion) state-backed Public Growth Fund — one of President Lee Jae Myung’s key economic initiatives targeting 12 strategic industries — 600 billion won annually over the next five years will be set aside for direct public participation. The subscription period will run from May 22 to June 11. According to the Financial Services Commission (FSC), retail investor money will be pooled into a fund of funds, or master fund, which will then allocate capital across subfunds operated by 10 selected asset management firms. To enhance returns, investors will receive tax incentives, including income deductions of up to 40 percent and separate taxation on dividends. Each sub-fund must invest at least 60 percent of its assets in companies tied to sectors such as semiconductors, secondary batteries, future mobility and AI. Within

Go to News Site