2023 Annual Report

Global Network

Through close partnerships with sovereign wealth funds, pension funds, and other global financial institutions, KIC continues to make strides toward becoming a leading sovereign wealth fund.

As the sovereign wealth fund of Korea, KIC strives to be one of the world’s best and has a broad and tight-knit network of global financial investment institutions. This network is at the core of our ability to access valuable investment information and promising opportunities and secure an advantage in investment negotiations. As a representative of Korea in international capital markets, KIC participates in various global platforms to strengthen multilateral cooperation, and we are working to expand our global network.

Building a Global Network Through Cooperation with SWFs and Other Organizations

KIC is building a tight-knit global network through mutual cooperation with sovereign wealth funds. Since 2019, we have signed MOUs for cooperation with multiple funds to share investment information and engage in other types of exchange.

PRI

In 2022, KIC joined the UN-supported Principles for Responsible Investment^PRI, the world’s leading proponent of responsible investment. Established in 2006, the PRI has more than 5,100 members and approximately USD 121 trillion in assets under management. KIC aims to become a globally leading sustainable investor by expanding its global network and honing its sustainable investment capabilities through the PRI.

IFSWF

The International Forum of Sovereign Wealth Funds^IFSWF is an organization of sovereign wealth funds that helps its more than 30 members implement the Santiago Principles, which are 24 Generally Accepted Principles and Practices for sovereign wealth funds. The organization also conducts research, represents its members’ views to the broader community, and brings members together to share insights and information. KIC has been an active member of the IFSWF since the group’s inception in 2009. We are committed to adhering to the Santiago Principles.

ICGN

Established in 1995 as an investor-led organization, the International Corporate Governance Network^ICGN aims to contribute to long-term value creation and sustainable development by improving corporate governance and stewardship practices. The policy positions of ICGN, guided by the ICGN Global Governance Principles and Global Stewardship Principles, are the standard for global companies’ and investors’ corporate governance and stewardship codes. KIC became the first Korean investor to join ICGN in 2017 and endorse its global stewardship principles.

Through ICGN, KIC communicates with more than 320 member organizations in 45 countries on stewardship principles and other topics. As a global investor, we strive to comply with the stewardship principles and promote the exercising of shareholder rights and sustainable investment.

OPSWF

Established in 2017, the One Planet Sovereign Wealth Funds^OPSWF aims to comprehensively address climate change-related financial risks and opportunities from the perspective of long-term asset management. KIC joined the group, now 18 members, in 2020, with French President Emmanuel Macron announcing our membership at the 2020 OPSWF CEO Summit. As an OPSWF member, KIC aims to more actively engage in climate change discussions and better manage investment returns through exchanging best practices.

TCFD

The Task Force on Climate-related Financial Disclosures^TCFD was established in 2015 at the request of G20 finance ministers and central bank governors. The TCFD provides guidelines for businesses and financial institutions to effectively disclose climate-related information. In 2020, KIC became the first public institutional investor in Korea to publicly endorse the TCFD and, at an OPSWF Summit that year, joined One Planet members in making statements of support for driving TCFD recommendations as a global standard. In 2022, KIC conducted a climate change scenario analysis in accordance with TCFD recommendations and disclosed the results of it in our 2022 Sustainable Investment Report.