Lee Min-hyung joined The Korea Times in 2014 and has worked as a journalist mainly in Korea’s finance, tech and automotive industry. He specializes in content creation, breaking news and in-depth analysis currently on transportation and mobility. You can reach him via mhlee@koreatimes.co.kr.
Korea Investment Corporation's new chief pledges flexible investment
Korea Investment Corporation (KIC) CEO Jin Seung-ho delivers a speech at his appointment ceremony in the KIC's headquarters in Seoul, Tuesday. Yonhap
By Lee Min-hyung
By Lee Min-hyung
Jin Seung-ho, the new CEO of Korea Investment Corporation (KIC), has pledged to push for “flexible and innovative” investment to tackle financial uncertainties in the wake of the pandemic.
“It is difficult for us to generate excellent investment returns amid widening uncertainties in the global financial market and investment environment,” he said during his appointment ceremony Tuesday. “But we will deal with the challenges with agile, flexible and innovative investments.”
Under his three-year term at the state-run company, Jin also expressed his firm determination to carry out advanced and responsible investments by establishing balanced investment portfolios. Jin spent most of his career at the Ministry of Economy and Finance before joining the KIC as its new chief.
“The importance of responsible management is ever-growing, with a number of countries putting green new deals and climate finance on their state agendas to tackle the COVID-19 crisis,” he said. The KIC will cast a positive influence on the global economy with its responsible investment portfolios, he said.
He spoke highly of the organization's stable growth in 2020 despite the global pandemic shock.
“The KIC achieved a record level of investment achievements last year when the pandemic crisis engulfed the economy here and abroad,” he said. “Our asset management volume topped 200 trillion won ($177.1 billion) 15 years after the establishment of the company.”
Jin is expected to proactively adjust the firm's asset management portfolio in ways to increase alternative investment with high returns.
The KIC's alternative investment accounted for only 15.3 percent of its total investment as of August 2020, which raised calls that the company needs to reduce its reliance on traditional investment areas such as stocks and bonds.
The company aims to increase the portion of its alternative investments to 20 percent under its medium-term growth plan.
Jin is also expected to widen investments in environmental, social and corporate governance (ESG) during his tenure amid the global rise of eco-friendly and socially responsible investment.