The South Korean government said Friday it plans to establish a new strategic investment account within the state-run Korea Investment Corporation (KIC) with at least 20 trillion won, or about $14 billion, in initial funding. The fund is expected to begin operations next year after lawmakers consider amendments to the Korea Investment Corporation Act. According to the Ministry of Economy and Finance, the fund will focus on long-term investments in AI, data centers, infrastructure and other strategic sectors, including semiconductors, robotics, biotechnology, aerospace and energy-related projects. The government said the move is intended to help strengthen national competitiveness and attract additional investment from global sovereign wealth funds and institutional investors. KIC has traditionally managed overseas assets tied to South Korea’s foreign exchange reserves. The new account would give the organization a mandate to invest in domestic assets while keeping its investment decisions separate from its existing foreign reserve portfolio. Seoul Economic Daily reported that the fund will begin with at least 20 trillion won in capital, including contributions from public financial institutions such as the …