The Korean Teachers’ Credit Union (KTCU) has named Ryu Young-hak as head of the Investment Strategy Department and promoted other employees in its latest personnel reshuffle, aimed at reviving the institution’s fund management organization.

It is the first personnel reshuffle since Kim Sang-gon took the top post in the union, industry sources said on January 6. The KTCU changed the heads of the Corporate Finance Department and Alternative Investment Department as part of efforts to enhance stability in its fund management.

Ryu was appointed to oversee the Investment Strategy Department. He joined the KTCU in 1995 and led the Domestic Corporate Team until recently.

The KTCU’s Fund Operation Division consists of the Investment Strategy Department, Financial Investment Department, Corporate Finance Department and Alternative Investment Department.

The KTCU created the Investment Strategy Department in 2018 to respond to external and internal changes in the financial environment and to systematize its fund management. The department oversees general fund operations of the KTCU’s assets, which are worth 34 trillion won ($30.9 billion). Of the 90 employees in the Fund Operation Division, 15 belong to the Investment Strategy Department.

Song Sang-hoon will be the new head of the Domestic Corporate Team, and Ko Jae-taek will remain head of the Corporate Finance Department, which is directly connected to the private equity industry. Park Young-gon was promoted to senior manager of the Corporate Finance Department and will handle private equity allocations and corporate investments.

In the Alternative Investment Department, Park Jin-seok will lead the Infrastructure Investment Team, and Hwang Sun-ho was promoted to head of the Overseas Real Estate Investment Team. (Reporting by Hye-ran Kim)