• Source: Korea Investment Corporation

      • The Korea Investment Corporation (KIC; Korean: 한국투자공사; Hanja: 韓國投資公社; RR: Hanguktujagongsa) is a sovereign wealth fund established by the government of South Korea in 2005. Its mission is to preserve and enhance the long-term purchasing power of South Korea's sovereign wealth (foreign reserves) 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. As of December 2024, KIC has $189.4 billion assets under management.


      Governance


      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 Economy 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 Republic of 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.
      Chief Executive Officer(CEO)
      CEO of KIC is appointed by the President of the Republic of Korea upon recommendation by the Minister of Economy and Finance through the President Recommendation Committee, and deliberation by the Steering Committee. The CEO represents KIC and presides over its business, and convenes the meetings of the Board of Directors and serves as the chairman of such meetings.
      Statutory Auditor
      In accordance with the Korea Investment Corporation Act, KIC has an independent audit function separate from the management. The full-time Statutory Auditor is appointed by the Minister of Economy and Finance through deliberation by the Steering Committee. Its role and responsibilities are to audit business and accounting activities at KIC.
      Directors
      Directors are appointed and dismissed by the CEO following deliberation by the Steering Committee. Appointed directors serve three-year terms.


      Investment


      Asset Allocation (2023)


      Milestones



      Year 2005
      March: Promulgation of Korea Investment Corporation Act
      July: Establishment of Korea Investment Corporation

      Year 2006
      June: Signing of investment management agreement with the Bank of Korea
      October: Signing of investment management agreement with the Ministry of Strategy and Finance

      Year 2007
      April: Launch of global equity investment
      August: Launch of In-house global fixed income investment

      Year 2008
      March: Launch of In-house global equity investment

      Year 2009
      March: Expansion of Risk Management team
      August: Launch of alternative investment team

      Year 2010
      March: Formation of Special Investment Team
      July: Opening of New York Office

      Year 2011
      December: Opening of London Office
      December: Adoption of the Long-term growth strategy 'Vision 2020'

      Year 2012
      September 2012: Exceeding USD 50 billion in AUM

      Year 2014
      Mach 2012: Launching the Public Community for Overseas Investment

      Year 2016
      June 2014: Exceeding USD 100 billion in AUM

      Year 2017
      September: Opening of Singapore Office

      Year 2018
      December: Establishment of Stewardship Principles

      Year 2019
      October: Exceeding USD 150 billion in AUM

      Year 2021
      March: Opening of San Francisco office

      Year 2022
      April: Exceeding USD 200 billion in AUM

      Year 2022
      Dec: Joining the UN-supported Principles for Responsible Investment (PRI)


      See also


      The Ministry of Economy and Finance
      The Bank of Korea


      References




      External links


      Korea Investment Corporation

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