Lee Jae-myung, the leader of the Democratic Party of Korea, met with the Federation of Korean Industries (FKI) to discuss plans to create systems, such as sovereign wealth funds, for national-level investments. This has followed his mention of a 'Korean version of NVIDIA,' where the public would hold 30% equity, suggesting an ongoing emphasis on sovereign wealth funds.
On the afternoon of the 5th, the leader met with FKI executives in the National Assembly and said, "Although it carries high risks, there are profits to be gained if successful. It is difficult for individual corporations to engage in large-scale investments. Therefore, we must open ways for national-level investments, whether through sovereign wealth funds or national funds."
It has been 10 years since the leader of the Democratic Party met with FKI executives. The last meeting was in September 2015 when then-leader Moon Jae-in met with Huh Chang-soo, the chairman of the predecessor organization, the Korea Employers Federation. Attendees at the meeting included Ryu Jin, chairman of FKI, Kim Chang-beom, senior vice chairman, and Jeong Cheol, president of the Korea Economic Research Institute.
The leader noted, "It has been said that it has been 10 years since the Democratic Party and FKI met publicly. In the world, even enemies meet during wartime, and it is natural for organizations responsible for the economy and playing a pivotal role to meet and discuss."
He emphasized, "International competition is becoming fiercer, and national development has increasingly relied on economic aspects. FKI plays a significant role in economic development, both now and in the future, and it must continue to do so."
On that day, FKI delivered a policy proposal to the Democratic Party leadership. Ryu Jin, chairman of FKI, said, "No one can disagree that our economy is facing a serious crisis. As the foundational strength is depleting, industries like artificial intelligence (AI) and the semiconductor revolution are experiencing transitions, and the external environment is also critical."
He continued, "Corporate investment, which is the catalyst for growth, must be revived. At the same time, we must rekindle entrepreneurial spirit, while striving harder to resolve uncertainties in the international trade environment and strengthen cooperation with the United States."