South Korea's new president Lee Jae-myung pledged bold investments and regulatory reforms to position artificial intelligence and renewable energy as core pillars of national growth, Pulse News reported Wednesday.

The Lee administration will introduce a 100 trillion won AI fund to push the country into the world's top three AI powerhouses, develop next-generation semiconductors, and ease regulations on data centers and special zones, the report said.

In the energy sector, Lee plans to scrap coal by 2040 and boost solar and offshore wind power, turning regions such as Jeju and South Jeolla into renewable energy hubs. Defense shipments will also get a push, while restructuring looms for crisis-hit sectors like steel and petrochemicals, it said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)