The Public Growth Fund, which will invest 150 trillion won in advanced strategic industries such as artificial intelligence (AI) semiconductors, was officially launched on the 11th. Park Hyun-joo, chair of Mirae Asset Group, and Seo Jung-Jin, chair of Celltrion, joined the public-private joint strategy committee that will discuss fund management strategy and resource allocation.
The Financial Services Commission (FSC) held the "Public Growth Fund launch ceremony and the first strategy committee meeting" at Korea Development Bank in Yeouido, Seoul, and unveiled the future investment structure and decision-making framework. The Public Growth Fund will be created at a scale of 150 trillion won by combining 75 trillion won in government-guaranteed bonds with 75 trillion won in private capital. It will broadly support advanced strategic industries such as AI, semiconductors, biotech, and robotics, and their related ecosystems.
By industry, likely allocations include ▲ AI (30 trillion won) ▲ semiconductors (2.09 trillion won) ▲ mobility (1.54 trillion won) ▲ biotech and vaccines (1.16 trillion won) ▲ secondary batteries (790 billion won). More than 40% of the total funds will be allocated to regions.
Lee Eog-weon, chair of the Financial Services Commission, said, "As the world wages an industrial and technological supremacy battle for survival, this is a time when national capabilities must be fully mobilized," adding, "The financial sector, industry, and government will together shape the journey of the Public Growth Fund, which will establish a growth engine for the next 20 years." Lee emphasized, "We must deliver tangible results commensurate with the overwhelming figures of the 150 trillion won Public Growth Fund and the 530 trillion won in productive finance at major financial institutions."
Experts from finance and industry are taking part in the Public Growth Fund's governance. First, a "strategy committee" will be formed to provide overall advice on management direction. As co-chairs from the public and private sectors, Lee Eog-weon, chair of the Financial Services Commission, will be joined by Seo Jung-Jin, chair of Celltrion Group, and Park Hyun-joo, chair of Mirae Asset Group.
Co-chair Seo Jung-Jin said, "The Public Growth Fund is a national project that not only accelerates growth but changes the very structure of growth," adding, "While serving as a channel that connects experience, data, and global networks accumulated in the private sector to a national strategy, we will ensure that strengthening competitiveness across the industrial ecosystem and growth of regional economies and job creation are realized in a substantive way."
Co-chair Park Hyun-joo also said, "The 150 trillion won Public Growth Fund will be the cornerstone of growth for AI, robotics, semiconductors, biotech, and infrastructure, as well as the priming water that will set startups dancing," adding, "I will spare no advice in building a competitive system based on honesty and transparency."
At the meeting, a two-stage review structure of "investment review committee → fund management deliberation committee" was also finalized. The investment review committee, composed of private-sector finance and industry experts and Korea Development Bank, will conduct working-level reviews of individual cases, and the fund management deliberation committee will make the final investment decisions on projects that will receive advanced-fund investments.
For working-level support, a "Public Growth Fund secretariat" has been established at Korea Development Bank, and within the government, a joint interministerial "Public Growth Fund task force" will also be formed. Financial authorities and Korea Development Bank are continuing discussions on several candidates for the "first investment destination," and more than 100 investment demands (totaling 153 trillion won) have been received from local governments and industry and relevant ministries. The government plans to hold a fund management deliberation committee meeting within this month to finalize next year's management plan.