Korea Investment Corporation
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Native name
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한국투자공사 韓國投資公社 |
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Romanized name
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Hanguktujagongsa |
| Sovereign Wealth Fund | |
| Founded | 2005 |
| Headquarters | Seoul, Republic of Korea |
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Area served
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Worldwide |
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Key people
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Sung-Soo Eun (Chief Executive Officer& President) Seung Je Hong (Chief Risk and Compliance Officer) Shinwoo Kang (Chief Investment Officer) Sangjoon Kim (Chief Operation Officer) |
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Number of employees
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139(2013) |
| Website | www |
Korea Investment Corporation (KIC) (Hangul: 한국투자공사; Hanja: 韓國投資公社; RR: Hanguktujagongsa) was established in 2005 to preserve and enhance the long-term purchasing power of South Korea's sovereign wealth through efficient management of public funds in the international financial markets. KIC manages assets entrusted by the Government, the Bank of Korea, and other public funds as defined under the National Finance Act. KIC directly invests the entrusted assets or re-entrusts the assets to external managers. KIC's Total assets under management stood at US$91.8 billion at the end of 4th quarter 2015.
To be a top sovereign wealth fund that serves as a cornerstone for the nation’s economic future through increasing national wealth
Steering Committee
The Steering Committee deliberates and resolves the following matters (Article 9 of the KIC Act), including: mid- and long-term investment policies; modification of financial status, such as the increase or decrease of capital; entrustment of assets to KIC; appointment and dismissal of executive officers; approval of budget and account settlement; evaluation of management performance of KIC; inspection of the business. The Investment Sub-Committee and Risk Management Sub-Committee support the matters related to mid- and long-term investment policies of the Steering Committee. Furthermore, the Budget Deliberation Sub-Committee and the Evaluation & Compensation Sub-Committee deliberate on issues pertaining to the operation of KIC and performance evaluation.
Committee members include six professionals from the private sector and the three official members who are the representatives of institutions that have entrusted assets exceeding a set amount, namely the Minister of Strategy and Finance, the Governor of the Bank of Korea and the CEO of KIC. The six private sector members, who are nominated by the Civil Member Candidate Nomination Committee and appointed by the President of the Republicof Korea, serve two-year terms. The chairman of the Steering Committee is elected from among the civil members.
Board of Directors
KIC maintains a Board of Directors which includes CEO and directors. The Board resolves important issues to be referred to the Steering Committee; use of emergency funds and carrying forward of the budget; matters pertaining to the adoption, amendment to and repeal of internal regulations of KIC; and any other matters of the Board deems necessary.
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