South Korea’s wealth fund, the Korean Investment Corp, is considering investing in the metaverse and AI. Seoungho Jin, who has helmed the $200 billion wealth fund since mid-2021, said the fund was undeterred by the Fed’s planned interest rate hikes. Jin referenced this because talks of a looming interest rate increase have caused growing uncertainty for global markets, a Big Tech stock slump, and massive crypto selloff in recent weeks.
According to Jin, the Korean Investment Corp may expand its investments into what he describes as alternative assets. Furthermore, the plan is to see these ‘alternative assets’ constitute around a quarter of the Korean wealth fund’s portfolio by 2025. In addition, the fund’s assets under management could grow to reach $300 billion in that same period.
Furthermore, Jin also has his sights set on hotels as a good play on the global recovery from the pandemic. In addition, the Korean Investment Corp head also described Silicon Valley as a veritable hunting ground for investments. As he put it:
“Some investors say Silicon Valley is already saturated, which I have to concede is partly true, but it is still a source of global growth. There are still plenty of good opportunities, if you chase them eagerly.”
Image Credits: Pixabay
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