South Korean sovereign wealth fund Korea Investment Corporation (KIC) has appointed Seoungho Jin, a former finance ministry official, as chief executive officer and chairman of the board of directors to succeed Choi Heenam, who retired at the beginning of the week.
Jin will serve for a three-year term, KIC says in a statement on May 18, when the appointment became effective. Choi retired a day earlier at the end of his term.
Prior to the appointment, Jin had led the presidential committee on balanced national development since 2019. He has also headed the international finance and international economic affairs bureaus at the Ministry of Economy and Finance.
“KIC will continue to develop its responsible investment capabilities as the fund has the scale and scope to make a good impact on global economic sustainability,” he says in the statement.
KIC had around US$183.1 billion of total assets as of December 2020.