The government will create a “Korea-style sovereign wealth fund” to support long-term strategic investment.

Finance Minister Koo Yun-cheol briefed President Lee Jae Myung during a policy briefing in Sejong City on Thursday, saying the ministry aims to launch the new fund in the first half of next year, drawing inspiration from Singapore’s Temasek and Australia’s Future Fund.

Officials also plan to leverage an estimated one-thousand-300-trillion won in state assets to redevelop older government sites and deliver 25-thousand public housing units in the greater Seoul area by 2030.

The ministry will tighten rules on asset management, ban discounted sales of state property and require National Assembly reporting for any disposal exceeding 300 billion won.

It will also issue additional short-term government bonds to reduce interest costs and stabilize market demand while expanding efforts to attract foreign investors following Korea’s entry into major global bond indexes.

In addition, the government plans to triple the public procurement target for innovative products, including AI, robotics, and climate tech, to three trillion won annually by 2030.