2024 Annual Report
Investment Highlights
Investments
Governance & Organization
Development of the Domestic
Finance Industry
As an overseas investment specialist institution, KIC contributes to the
development of Korea’s financial industry by sharing its global investment
experience and operational expertise.
Partnership
Expanding mandates to domestic managers and co-investing with domestic financial institutions
KIC is gradually expanding investment mandates to domestic asset management firms to help them build overseas investment expertise. Their number has steadily increased each year, reaching a total of eight—six for equities, one for hedge funds and one for fixed income—as of the end of 2024.
Looking ahead, KIC plans to steadily expand the scale of mandates to domestic managers in line with the development of Korea’s asset management industry, while also diversifying asset classes and investment strategies.
KIC also collaborates with major domestic institutional investors by sharing information on attractive investment opportunities and promoting continuous cooperation. This includes identifying high-quality alternative investment opportunities, exploring coinvestment opportunities and providing information and access to global alternative investment networks to enhance their understanding of international markets.
In 2021, KIC established a hedge fund joint ventureJV with the National Agricultural Cooperative Federation and National Federation of Fisheries Cooperatives to support domestic financial institutions investing in overseas hedge funds. In 2022, the Seoul Guarantee Insurance Company and Tongyang Life Insurance joined the JV
KIC also contributes to the development of Korea’s finance industry by partnering with domestic alternative investment managers, investment banks and securities firms on strategic investments.
We remain committed to fostering mutual growth with Korea’s asset management industry and institutional investors through a broad range of cooperative efforts.
Expanding cooperation with domestic brokerage firms and overseas-investment advisors
KIC utilizes the platforms of domestic securities firms to execute global equity trades. To help strengthen the firms’ trading capabilities, we introduced a quota system in 2020, entrusting a portion of our equity transactions to them. KIC plans to deepen communication with domestic securities firms to support the development of their practical capabilities for overseas equity trading.
KIC also actively collaborates with domestic financial companies in overseas alternative investments, particularly to strengthen their loan execution capabilities for global investment targets. We have been steadily facilitating the participation of domestic banks’ overseas branches in loan syndications, executing more than USD 100 million in new loans through domestic financial companies in 2024.
In addition, KIC works with domestic institutions— such as legal, tax, accounting and consulting firms—throughout the advisory process in alternative investments, with the aim of strengthening their capacity to support global transactions
KIC also encourages leading global financial institutions to enter the Korean market and share advanced financial expertise with the local industry. Through proactive engagement, we help key global partners better understand the Korean market and recognize its potential as a base for future business. We also consider their willingness to establish a local presence when selecting new external managers.
Knowledge sharing
Public Community for Overseas InvestmentPCOI
KIC launched the Public Community for Overseas InvestmentPCOI in 2014 as a platform for sharing overseas investment information and experiences with domestic pension funds, mutual aid associations and specialized banks. The PCOI has 26 member institutions as of the end of 2024.
KIC held four PCOI meetings in 2024. In the first half of the year, it organized discussions on global inflation, the outlook for financial markets and overseas M&A activity by Korean companies. In the second half of the year, discussions spanned global venture investment trends and AI application in the asset management industry. KIC also hosted the 6th ESG Day to discuss practical strategies for applying AI in ESG investments.
KIC will continue to support the development of Korea’s finance industry by sharing its global investment expertise with member institutions.
Highlights of the Public Community for Overseas Investment in 2024
| Date | Conference Agenda |
|---|---|
| 2024. 2. 29 | 2024 financial markets after the rate hike cycle |
| 2024. 5. 31 | Overseas M&A of Korean companies |
| 2024. 8. 30 | Global venture investment trends and AI applications in asset management |
| 2024. 12. 6 | ESG investment strategies and AI use |
Members of the Public Community for Overseas Investment
| Institution Name | Institution Name | Institution Name |
|---|---|---|
Korea Investment Corporation  |
Korea Post  |
Police Mutual Aid Association  |
Government Employees Pension Service  |
Science and Technology Employees’ Mutual Aid Association  |
International Finance Center  |
Military Employees’ Mutual Aid Association  |
Korea Local Government Employees’ Mutual Aid Association  |
Private School Teachers’ Pension Fund  |
Korea Teachers’ Mutual Aid Association  |
Korea Development Bank  |
Korea Eximbank  |
Korea Asset Management Corp  |
Public Officials Benefit Association  |
Construction Workers Mutual Aid Association  |
Korea Trade Insurance Corporation  |
Korea Fire Officials Credit Union  |
Korea Hydro & Nuclear Power  |
Korea Federation of SMEs  |
Korea Labor Welfare Corporation  |
National Federation of Fisheries Cooperatives  |
Korea Deposit Insurance Corporation  |
Korea Federation of Agricultural Cooperatives  |
Korea Federation of Industrial Unions  |
Korea Atomic Energy Agency  |
SGI Seoul Guarantee Insurance Company  |
International Financial Cooperation CouncilIFCC
KIC runs the International Financial Cooperation Council with its offices in the global financial centers of New York, London, Singapore and San Francisco, with the event being called the New York Financial Forum in the case of the New York office. The aim is to share investment information and promote mutual cooperation with public and private Korean investment institutions in each region.
The IFCC was launched in New York in 2017, London in 2018, Singapore in 2019 and San Francisco in 2022. The councils hold meetings featuring presentations and discussions with experts from leading local asset managers and investment banks. Last year, KIC held nine meetings in New York, five in London, one in Singapore and two in San Francisco.
Notably, the New York office expanded the scope of the IFCC in 2023 by launching the New York Financial Forum, which shares in-depth global financial market and investment information with Korean financial institutions and professionals based in New York.
Through the IFCC, KIC shares insights on global financial market trends and promising investment opportunities. We also pursue economies of scale by collaborating on co-investments when such opportunities arise.
KIC strives to serve as an active gateway for domestic investors entering overseas markets and networks.
International Finance Academy
The International Finance Academy, launched in 2022 to support the development of Korea’s finance industry, has played a key role in strengthening the overseas investment capabilities of domestic investors. In 2024, KIC drew on its global network to deepen the expertise of its instructors and hosted 15 seminars on financial market issues and trends. Through a broadened range of educational topics and promotional channels, the academy attracted 421 participants from 57 institutions.
KIC plans to further expand the International Finance Academy by drawing on its asset management expertise and global network. By identifying topics aligned with participants’ educational needs and broadening the academy’s reach, we aim to strengthen Korea’s overseas investing talent pool and contribute to advancing the domestic finance industry.
| Overseas Office | IFCC Members |
|---|---|
| New York | Korea Investment Corporation, Consulate General of the Republic of Korea in New York, National Pension Service, International Financial Center, Financial Supervisory Service, Korea Eximbank, Bank of Korea, Korea Development Bank, Korea Post, Korea Electric Power Corporation, Korea Housing Finance Corporation, Korea Trade-Investment Promotion Agency, Korea Trade Insurance Corporation, KB Kookmin Bank, Industrial Bank of Korea, NongHyup Bank, Shinhan Bank, Shinhan Bank America, Woori Bank, Woori America Bank, Hana Bank, Hanmi Bank, Mirae Asset Securities, Samsung Securities, KB Securities, Korea Investment & Securities, NH Investment & Securities, Shinhan Financial Investment, Samsung Asset Management, Mirae Asset Management, Hanwha Asset Management, Samsung Life, Kyobo Life, Korean Reinsurance, Hyundai Marine Fire Insurance, Samsung Fire & Marine Insurance, DB Insurance, SGI Seoul Guarantee, Hanwha Holdings America, Korea International Trade Association, Mastern America, etc. |
| London | Korea Investment Corporation, Embassy of the Republic of Korea in the United Kingdom, National Pension Service, Financial Supervisory Service, Korea Eximbank, Bank of Korea, KB Kookmin Bank, Industrial Bank of Korea, Korea Development Bank, Shinhan Bank, Woori Bank, Hana Bank, Nonghyup Bank, Mirae Asset Securities, Samsung Securities, Korea Investment & Securities, NH Investment & Securities, Kyobo Life Insurance, Samsung Fire & Marine Insurance, Korean Reinsurance, Hyundai Marine Fire Insurance, Samsung Asset Management, Aegis Asset Management, etc. |
| Singapore | Korea Investment Corporation, Korea Development Bank, Korea Eximbank, Korea Exchange, Woori Bank, Shinhan Bank, KB Kookmin Bank, Hana Bank, Korea Investment & Securities, Mirae Asset Securities, National Pension Service, Korea Housing Finance Corporation, Korea Trade Insurance Corporation |
| San Francisco | Korea Investment Corporation, National Pension Service, Korea Development Bank, Korea Venture Investment, Samsung Ventures, LG Tech Ventures, Mando Innovation, GS Futures, SK Discovery, Lotte Ventures, KT, Hanwha Asset Management |