KIC Embraces New Warren Buffett Style
The US$ 72 billion Korea Investment Corporation (KIC) is undergoing an organizational metamorphosis. With a new chief at the helm, Ahn Hong-chul, who was the former commissioner of Invest Korea, and other personnel shifts, the Korean sovereign wealth fund is commencing on their biggest restructuring. Dong-ik Lee stepped down in 2013 to allow Ahn Hong-chul a fresh start to retool the KIC.
New Research Centre
The KIC is establishing a new research centre, similar to what other sovereign funds like Norway’s sovereign wealth fund and Singapore’s GIC have done. An in-house research unit was one of the reforms Ahn wanted to undertake by relying less on private research firms. The centre will have two divisions, one focusing on global macroeconomic data, currencies and interest rates. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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