South Korea\'s Ministry of Science and ICT launched a K-Moonshot rare earth industry-academia-research council in Seoul on Wednesday to strengthen supply-chain capabilities for materials heavily dependent on China. The ministry is pursuing a K-Moonshot programme that combines AI and science and technology. It plans work from 2027 led by three state research institutes to develop permanent magnet processes that avoid heavy rare earths, sharply cut light rare earth use and recover rare earths from waste magnets.

Sales of the second public participation National Growth Fund open on Sept. 30, allowing retail investors to invest in the government’s National Growth Fund programme. The fund will raise 600 billion won and invest in future advanced industries such as AI, semiconductors, energy and biotech. Asset managers including Mirae Asset, KB and Samsung have begun fundraising, while brokerages opened dedicated savings accounts and started sales. The product includes a loss-buffer structure and tax benefits tied to holding requirements.