Oh Se-hoon: "My Fund is 'Growth', Lee Jae-myung's Fund is 'Distribution'"

Lee Jae-myung Proposes 'K-NVIDIA Fund'
"Even Advanced Industries Are Being Tied to Vote-Seeking"

Seoul Mayor Oh Se-hoon criticized Lee Jae-myung, leader of the Democratic Party of Korea, for his proposal of a 'K-NVIDIA sovereign wealth and national fund,' saying, "I am at a loss for words at the political calculation that connects even the advanced technology industry, which is like a battlefield without gunfire, to distribution and vote-seeking."

On the 7th, Mayor Oh posted on Facebook an article titled "Oh Se-hoon Fund is for Growth, Lee Jae-myung Fund is for Distribution," expressing this view.

Yonhap News

Mayor Oh said, "Lee said that if the people hold 30% of the shares by creating a company like NVIDIA, there would be no need to rely on taxes," adding, "When it became controversial, he later called it a sovereign wealth fund, but the essence is distribution, as it stimulated voters' sentiments with the phrase 'no need to rely on taxes.'"

He also urged Lee, "You should painfully acknowledge that the funds for research and development investment are already woefully insufficient compared to the U.S. and China."

Referring to his earlier proposal to create a 500 trillion won scale 'Restart Growth (KOGA) Fund,' Mayor Oh emphasized, "The fund I proposed focuses on investment and growth," and added, "Since there has been no significant change in national strategic industries over the past decade, we must secure national competitiveness by fostering new industries through bold investments."

This content was produced with the assistance of AI translation services.