Financial regulators to launch “National Growth Fund Strategy Committee”

(Joint Press Corps)

South Korea’s financial authorities are set to establish a new public–private advisory body, the National Growth Fund Strategy Committee, which will play a central role in managing a planned 150-trillion-won ($102 billion) national growth fund, officials said Thursday. The committee is expected to be jointly chaired by the Financial Services Commission Chair Lee Eok‑won and a leading industry figure.

The proposed structure includes a 15–20 person high-level advisory committee, a 40-member inter-agency support group involving multiple ministries (including the financial regulator, the Ministry of Food and Drug Safety, the Ministry of Trade, Industry and Resources, and the Ministry of Science and ICT), and a separate 9-member investment steering committee. With additional private-sector advisers and staff at the fund’s operating entity, the total workforce associated with the fund could reach approximately 150 people.

Under the design, initial investment screening will be handled by the support group and the operating entity, which will assess government and industry backing as well as financing feasibility. Qualified proposals will then be forwarded to the investment steering committee for a secondary review. The Strategy Committee will provide policy guidance and strategic oversight throughout the process.

Officials said the first wave of investment projects is expected to be announced soon, potentially as early as next week’s High-Level Industry Competitiveness Council meeting, with 4–5 flagship initiatives spanning advanced technologies, infrastructure, and nationwide strategic sectors — particularly targeting AI, semiconductors, and other core industries.

To address concerns over typical pitfalls of state-led funds — such as indiscriminate funding or regional favoritism — the proposed system includes multiple checkpoints, diversified decision-maker representation, and an explicit separation between political authority and investment decisions. Regulators stressed that “multi-layer governance and transparent review processes” will help safeguard fairness and steer the fund toward sustainable national growth.