Jin Seungho Appointed as the 8th President of Korea Investment Corporation (KIC)

[Asia Economy Reporter So-yeon Park] Jin Seung-ho, former head of the Planning Division at the National Balanced Development Committee, has been inaugurated as the 8th President of Korea Investment Corporation (KIC). His term is three years.

On the morning of the 18th, Jin Seung-ho held an inauguration ceremony at KIC headquarters in Jung-gu, Seoul, and emphasized, "It is difficult to guarantee excellent investment performance amid rapidly changing investment environments and increasing uncertainties in financial markets," adding, "Let us respond through agile and flexible innovative investments."

President Jin stated, "Recently, to overcome the COVID-19 crisis, many countries have adopted the Green New Deal and climate finance as national agendas, highlighting the growing importance of responsible investment," and expressed, "With a diverse investment portfolio and vast assets under management, we can exert a positive influence on the global economy. Accordingly, we will practice advanced responsible investment befitting KIC's status and responsibilities."

He continued, "Despite the COVID-19 pandemic last year, KIC achieved the highest investment performance in its history," and evaluated, "In just 15 years since its establishment, the asset management scale has exceeded 200 trillion won, growing to a level comparable to the world's leading sovereign wealth funds."

He said, "As South Korea has grown into a top 10 global economic power, KIC's leadership and partnership are necessary so that the financial industry can play a leading role in economic development in line with the scale of the real economy," adding, "We must become a leading partner in the domestic financial industry."

Meanwhile, President Jin proposed three management philosophies for efficient organizational operation: 'performance management,' 'ethical management,' and 'happiness management.' Through these, he promised to build KIC into a world-class sovereign wealth fund.

President Jin Seung-ho, inaugurated today, graduated from Seoul National University with a degree in International Economics and earned his master's and doctoral degrees in Economics from the University of Manchester. His major career includes key positions in economic ministries such as Director of External Economic Cooperation, Director of International Financial Cooperation, and Director of External Economic Affairs at the Ministry of Strategy and Finance. Immediately before his appointment as KIC president, he served as head of the Planning Division at the National Balanced Development Committee.