Hello, this is Treasurer. Earlier this year, the Los Angeles County Employees Retirement Association (LACERA), which manages roughly KRW 131 trillion in retirement assets, was asked a simple question: “How much of our portfolio is exposed to AI?” Its estimate came back at 8% to 19%. For an institution managing such a large portfolio, that is a surprisingly wide range. The reason is simple: there is still no universal definition of what counts as an AI-related investment. But the issue goes beyon