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September 2023
AAM Magazine
September 2023
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Korea Post seeks experienced ESG asset manager for domestic equity mandate

Korea Post
By Hui Ching-hoo   
June 6, 2023

Korea Post is looking to hire an asset manager with at least three years of experience managing environmental, social and governance funds for a new domestic equity mandate focusing on social responsibility, its seventh outsourced investment of 2023.

The investment is for its insurance unit and will be benchmarked against the Korea Composite Stock Price Index.

The winning bidder will be appointed for a year, Korea Post says in a request for proposal on June 2. The value of the mandate was not specified.

Firms bidding on the tender must have ESG investment portfolios valued at a minimum 10 billion won (US$7.63 million).

Applications are open until June 16 and the winning firm will be hired by the end of July.

The government postal agency is among the most active Korean institutions in outsourcing investments. Like most of them, it doesn’t often announce tender results publicly.

Sejong-based Korea Post has around 150 trillion won of assets.