Korea's finance ministry said Tuesday that 39.7 trillion won ($29 billion) has been earmarked for the ministry under the government's 2027 budget proposal, with a focus on fostering future growth engines and expanding export financing. The Ministry of Finance and Economy said the amount marks a 15.7 percent increase, or 5.4 trillion won, from the 2026 budget. "The finance ministry will focus on providing capital and export financing to foster future strategic industries and supporting hyper-innovation economy projects through the budget in connection with the second-half economic growth strategy," the ministry said. In detail, Korea will establish a new strategic investment account under Korea Investment Corp. (KIC), the country's sovereign wealth fund, allocating 500 billion won. The move comes as a growing number of countries are using strategic sovereign wealth funds to build national wealth, and as tools for strengthening economic security and pursuing proactive industrial policies. Korea will also launch a strategic export finance fund to better support exporters undertaking large-sc