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February 2024
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February 2024
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Korea Post seeks ESG managers for domestic bond mandate

ESG
By Hui Ching-hoo   
February 9, 2024

Korea Post is looking to hire two social responsibility-focused asset management firms for a domestic fixed income mandate, its second tender of 2024.

Firms vying for the mandate must be locally registered fund houses with at least one investment professional dedicated to environmental, social and governance strategy and research, the government postal agency says in a request for proposal on February 7.

They must also have a minimum 100 billion won (US$75 million) of assets under management, including at least 60% allocated to fixed income.

The RFP does not specify the value of the mandate, which is for Korea Post’s insurance unit.

Applications are open until February 23 and the winning bidders will be chosen by March 24. They will be appointed for a year.

Korean investment consulting firm KG Zeroin has been appointed to evaluate applicants.

Korea Post’s first tender of the year was for a foreign private equity mandate, also of unspecified value. Bids were called in January and the winner will be picked by the end of March.

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