National Growth Fund’s Second Round: 10 Trillion Won for Six Projects Including Sovereign AI and Saemangeum

The government has selected six projects, including bio, sovereign artificial intelligence (AI), and the Saemangeum advanced belt, as the second batch of mega-projects to receive investment from the 150 trillion won National Growth Fund. Starting as early as next month, it plans to inject around 10 trillion won into these areas.
The Financial Services Commission (FSC) announced these second-round mega-projects and support measures for the advanced industry ecosystem after holding the "2nd Strategy Committee of the National Growth Fund" on the 14th.
Previously, in December last year, the FSC chose seven first-round investment targets, including semiconductors, data centers, and offshore wind power. By March this year, it had approved 6.6 trillion won in funding for four of those projects.
Since the launch of the National Growth Fund last year, investment demand has been strong. Among many candidates, the key criterion for selecting this second batch of projects was their "potential to generate tangible results." While the first-round projects focused on flagship advanced industries such as semiconductors, this round prioritized whether funds could quickly translate into real-world outcomes after being deployed.
Investment in next-generation bio and vaccine-related projects follows the same logic. The plan is to support bio and vaccine companies that are in global Phase 3 clinical trials, just before commercialization, and directly link that support to returns. Authorities are considering low-interest loans for facility investments needed for Phase 3 drug development, as well as direct investments through the creation of joint ventures.
Funding will also go to Hyundai Motor Group’s roughly 9 trillion won Saemangeum advanced belt project. Hyundai Motor Group has unveiled a blueprint to build a future business value chain in the Saemangeum area, including an AI data center. The National Growth Fund is expected to participate through direct investment or loans.
To build an independent AI ecosystem, funds will support the development of a Sovereign AI model and private-sector projects to establish AI data centers, using both direct investment and infrastructure financing. In addition, large-scale facility investments for display organic light-emitting diode (OLED) production, future mobility and defense projects such as unmanned aircraft, and major solar and onshore wind power projects outside the Seoul metropolitan area have also been included in the second round of mega-projects.
FSC Chairperson Lee Eok-won stated, "In the midst of fierce global competition in advanced industry investment and energy, many challenges still remain," and stressed, "We must respond swiftly to the great energy transition while providing large-scale funding in a timely manner to strengthen the global competitiveness of our advanced industries."
zoom@fnnews.com Lee Jumi Reporter