According to CoinMeta, the South Korean government announced the approval of a new investment account worth 20 trillion Korean won within its sovereign wealth fund to support artificial intelligence, data centers, and other strategic industries, allowing domestic investments for the first time. As stated in a statement released on Friday, this account will be established by the Korea Investment Corporation (KIC) to expand the investment scope of the sovereign wealth fund and permit investments within the country. The government indicated that the account will start with a capital of at least 20 trillion Korean won, funded by equity contributions from public institutions. This initiative is aimed at supporting industries deemed strategically important, while also creating long-term returns for future generations and enhancing national economic security, foreign exchange stability, and financial markets. This move comes at a time when South Korea's stock market is under pressure; the KOSPI index fell by 34% in July, recording its worst monthly performance ever. Government officials stated that this investment account is designed to respond to the growing international interest in South Korea's technology sector, particularly projects related to artificial intelligence infrastructure.