The Korea Investment Corporation (KIC), the sovereign wealth fund, announced on the 30th that it has signed a memorandum of understanding (MOU) with NongHyup Financial Group for joint investment in overseas private equity funds.
Park Ilyoung (right), CEO of Korea Investment Corporation, and Lee Chanwoo, Chairman of NongHyup Financial Group, are posing for a commemorative photo at the memorandum of understanding (MOU) ceremony for joint investment in overseas private equity funds on the 30th. Photo by Korea Investment Corporation
The two companies held the MOU signing ceremony at the headquarters of NongHyup Financial Group on the same day and agreed to cooperate comprehensively on matters such as investment targets and methods for joint overseas private equity investments. The agreement also includes cooperation on strategic investment programs to support overseas acquisitions by domestic companies, which KIC plans to promote in the future.
Since beginning overseas private equity investment in 2009, KIC has been actively supporting domestic financial institutions in making effective entries into the overseas alternative investment market and accessing high-quality investment opportunities, leveraging its global financial market network and investment experience.
Park Ilyoung, CEO of KIC, stated, "This MOU with NongHyup Financial Group will serve as a meaningful opportunity to further strengthen the overseas investment capabilities of Korean institutional investors," adding, "KIC will continue to expand strategic cooperation with domestic financial institutions to support their efficient entry into the overseas alternative investment market and enhance the standing of Korean finance in the global financial market."
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