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Korea: Law to add $5 bln to sovereign fund

Posted on 10 December 2009

From Joongang Daily: The Korean government plans to beef up the national sovereign fund by $5 billion to bring its assets under management to nearly $34 billion next year, according to officials at the Finance Ministry.

The officials said the National Assembly’s Strategy & Finance Committee had approved legislation to add $5 billion to the sovereign fund, known as Korea Investment Corp., taking its assets from $28.9 billion to $33.9 billion……………………………..Full Article: Source

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