South Korean sovereign wealth fund Korea Investment Corporation (KIC) has appointed Park Jin-seong as head of alternative investment and Huh Jea-young as head of private equity investment.
They succeed James Kim and Hoon Lee, who were both promoted to deputy chief investment officers in June.
On top of their new appointments, Mr. Park and Mr. Huh will retain their positions as head of absolute return investment and head of real estate investment, respectively, on a temporary basis, KIC says in a statement on December 21.
The appointments mean Mr. Kim and Mr. Lee, who had remained in charge of alternative investment and private equity since their promotion, can now concentrate solely on their new duties.
Meanwhile, KIC has also appointed Kim Ho-gyun to succeed Lee Seung-kul as head of its Singapore office.
The statement does not identify Mr. Kim’s current role or Mr. Lee’s new position.
Seoul-based financial publication Korean Investors cites market sources as saying Mr. Lee will succeed Mr. Huh as head of the real estate division.
Spokespersons for KIC did not immediately respond to questions from Asia Asset Management.
KIC had around US$157.3 billion of total assets as of end-2019.