The Korea Investment Corporation (KIC) announced that it aims to increase its assets under management (AUM) to $400 billion by 2035 from the current $150 billion, local media reported on July 1.
“We’ve achieved significant growth as the size of assets under our management rose to over $150 billion last year from $100 billion in 2016,” KIC CEO Hee-nam Choi said at a seminar to celebrate the company’s 15th anniversary.
The CEO emphasized that his company will make more socially responsible investments and will strategically allocate its assets in order to nearly triple its AUM within the next 15 years.
“We aim to increase its assets under management to $400 billion by 2035 through strengthened partnership with domestic financial institutions and efforts to enhance long-term profits,” Choi said.
KIC invests assets entrusted by the South Korean Government and Bank of Korea in overseas markets, which have a net asset value of $157.3 billion as of the end of last year. Its accumulated profit is $49.2 billion. (Reporting by Kyoungho Lee)