Korea Investment Corporation Achieves Growth in H1

Posted on 07/27/2023

South Korea’s economy slowed in Q2 2023, after facing higher interest rates. Some help may be on the table for workers. The minimum wage in the country is going up to US$ 7.80 an hour next year. Growth in the country was only 0.3%, but that surpassed expectations. These challenges did not have an impact on the country’s sovereign wealth fund.

As Korea Investment Corporation (KIC) plans to place a quarter of its portfolio into alternatives, its current assets under management jumped to US$ 180.9 billion in H1, thanks to tech sector growth and avoiding significant exposure to banks. This comes after recognizing a loss of 14.4% in 2022. Alternatives accounted for nearly 10% of returns in the last 5 years. Private equity managed 14.65%. ­­

Meanwhile, KIC is planning to open its India office soon. As SWFI reported, KIC is looking to push for its interests among companies it has a stake in, with a goal of advising 150 companies by 2024.

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