The FSC said Saturday it approved funding support for five projects at a meeting of the fund’s investment review committee.
With the latest approvals, the fund has approved 11 projects totaling 8.4 trillion won in cumulative financing.
A key agenda item was a 100 billion won direct investment in Upstage, a South Korean AI venture that develops AI solutions for businesses and government and builds large language models.
The FSC said the investment will be used to develop next-generation AI models and build infrastructure to operate large language models, as part of a planned 560 billion won fundraising effort.
The committee also approved a project to build a national AI computing center. The FSC said the approval confirms 400 billion won in capital fundraising, with plans to pursue additional loans of up to more than 2 trillion won.
A proposal tied to building an advanced industrial belt in Saemangeum was also approved. The National Growth Fund decided to provide Future Graph with a total of 250 billion won in low-interest loans, including 200 billion won from an advanced strategic industries fund. The FSC said the factory project, with 400 billion won to be invested, is expected to establish an annual production base of 37,000 tons of spherical graphite at the Saemangeum National Industrial Complex.
Other approved items included an expansion of STGen Bio’s contract manufacturing plant for biopharmaceuticals and low-interest loans for a midsize semiconductor materials company.
The FSC said it is accelerating investment planning after creating the 150 trillion won National Growth Fund to foster advanced strategic industries and support an economic rebound. It said it will regularly announce large-scale projects with broad industrial spillover effects while responding on an ongoing basis to diverse funding needs across the advanced-industry ecosystem.
* This article has been translated by AI.
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