Korea Investment Corporation Discusses U.S. Power Infrastructure Investment with New York Finance Professionals

The sovereign wealth fund Korea Investment Corporation (KIC) discussed investment opportunities in power infrastructure with Korean-American finance professionals and local investment experts in New York, United States. On July 31 (local time), KIC announced that it held the 23rd 'New York Korean Finance Forum' at the New York Consulate General, organized by its New York branch.

On the 31st of last month (local time), the 23rd New York Korean Finance Forum, hosted by the New York branch of the sovereign wealth fund Korea Investment Corporation (KIC), is being held at the Consulate General of the Republic of Korea in New York. Korea Investment Corporation

Approximately 30 participants attended the forum, including the Deputy Consul General (Economic Affairs Officer) of the Consulate General of New York, as well as representatives from the government, public investment institutions, securities firms, banks, and insurance companies.

Doug Kimmelman, Chairman of Energy Capital Partners (ECP), projected that electricity demand in the United States will increase by 1.5 to 2 times by 2040. Kimmelman stated, "The United States is experiencing rising electricity demand due to the expansion of data centers driven by increased artificial intelligence (AI) computing and the growth of electric-based transportation." He further explained, "The growth of U.S. manufacturing and the electrification of residential and commercial facilities are also contributing to the surge in electricity demand." He added, "Renewable energy is being highlighted as a key energy source to meet soaring electricity demand, thanks to relatively short power plant development periods, low generation costs, and a growing preference for clean energy."

However, he noted, "Renewable energy sources such as wind and solar may have inconsistent output depending on generation conditions," and added, "There may be a growing need for gas-fired power generation to ensure a stable and continuous electricity supply." ECP, established in 2005, is a North America-based asset manager that primarily invests in power infrastructure, sustainable infrastructure, and environmentally friendly solutions.

Additionally, forum participants continued discussions on various investment opportunities, including power supply solutions for data centers, power infrastructure to address peak demand, and regions where structural increases in electricity demand are expected.

Lee Kyungtaek, Head of the New York Branch, commented, "It was a valuable forum where we had in-depth discussions on major issues related to rising electricity demand and explored new investment opportunities," and added, "We expect that this will help domestic institutional investors develop future investment strategies."

Korea Investment Corporation operates overseas branches and offices in global financial centers (New York and San Francisco in the United States, London in the United Kingdom, Singapore, and Mumbai in India). Each overseas base strives to share investment information and build cooperative networks with both public and private Korean financial institutions operating locally.