2024 Annual Report

KOR

Investment Highlights

Investments

Governance & Organization

Governance & Organization Management Philosophy Ethical Management Talent Development Social Contributions

Governance & Organization

Governance Structure

KIC is committed to ethical and transparent management. We manage
national assets in a stable manner through an honest and fair system and
faithfully fulfill our social responsibilities for the future of Korea.

Governance-Assuring Autonomy & Investment Independence

The Korea Investment Corporation Act stipulates that KIC shall have a corporate governance structure that ensures investment independence and operational autonomy from the government and its sponsors.^{Korea Investment Corporation Act, Article 35}

Steering Committee

The Steering Committee deliberates and decides on matters including: regulatory revisions, mid- and longterm investment policies, management and operational policies, changes to financial status, entrustment of assets to KIC, executive appointments and dismissals, budget approvals and financial results, management performance evaluations and inspections and audits of KIC’s business.^{Korea Investment Corporation Act, Article 9}

Board of Directors

The Board of Directors consists of the CEO and directors. It resolves matters related to the following, in accordance with KIC’s regulations: company management, management of entrusted assets, risk management, legal affairs and compliance, human resources and accounting.^{Korea Investment Corporation Act, Article 24}

Chief Executive Officer

Under Article 18 of the Korea Investment Corporation Act, the CEO of KIC is appointed by the President of the Republic of Korea, upon recommendation by the Minister of Economy and Finance, following a nomination by the President (CEO) Recommendation Committee and deliberation by the Steering Committee. The CEO represents KIC, oversees its business, convenes meetings of the Board of Directors and serves as Chairman of the Board.

Organization

Steering Committee

Steering Committee Overview

The Steering Committee consists of six privatesector experts and three ex-officio members. The ex-officio members are the Minister of Economy and Finance and the Governor of the Bank of Korea as representatives of institutions that have entrusted KIC with assets above a designated threshold, and the CEO of KIC. Private sector members are nominated by the Civil Member Candidate Nomination Committee, appointed by the President of the Republic of Korea and serve a two-year term. The chairman of the As of December 2024 Steering Committee is elected from among the private sector members.

The ad-hoc subcommittees deliberate on matters delegated by the Steering Committee and conduct investigations and produce reports to support its decision-making. They include the Evaluation Remuneration Subcommittee, which reviews KIC’s management performance evaluations, and the Budget Subcommittee, which reviews budgets and the settlement of accounts.

Sedon Shin

Chairman

Honorary Professor,
Sookmyung Women’s University

Nayoung Kim

Head, Korea Financial Services
Cloud Business Development,
Amazon Web Service

Jeongjae Park

Deputy Professor of Economics,
Yonsei University

Kwanho Shin

Professor, Department of
Economics, Korea University

Donghyun Ahn

Professor,
Seoul National University

Seunghoon Lee

Director, Kyung Hee University

As of December 2024

운영위원회를 제공하는 표
Category	Steering Committee	Investment Subcommittee	Risk Management and Audit Subcommittee	Budget Subcommittee	Evaluation Remuneration Subcommittee
Sedon Shin	Chairman
Nayoung Kim	Member	Member	Chairman
Jeongjae Park	Member		Member	Member
Kwanho Shin	Member		Member	Chairman
Donghyun Ahn	Member	Chairman			Member
Seunghoon Lee	Member	Member			Chairman
Ministry of Economy and Finance^Minister	Member			Member	Member
Bank of Korea^Governor	Member			Member	Member
KIC^CEO	Member	Member	Member

Executive Management

Il Young Park

Chairman & CEO

Chong Soo Lee

Statutory Auditor

Hoon Lee

Chief Investment Officer

Hoseok Jung

Chief Risk Officer

Sangmin Lee

Chief Operating Officer

경영진
Il Young Park Chairman & CEO	B.A., Economics, Seoul National University M.A., Sanford School of Public Policy, Duke University, USA	Executive Director, World Bank Ministry of Economy and Finance Deputy Minister for International Affairs - Director General, International Economic Affairs Bureau - Director General, Development Finance Bureau Policy Advisor to the Minister Deputy Director General, Employment and Labor Market Policy Division Senior Advisor to the Executive Director, International Monetary Fund Director, Future Vision and Strategy Division, Future Society Policy Bureau Assistant Secretary to the President for International Economy, Office of the President Economist, World Bank Director, Trade Policy Division
Chong Soo Lee Statutory Auditor	B.A., Economics, Sungkyunkwan University M.A., International Economics, Seoul National University M.S., Marketing Communication, New York University, USA	Outside Director, Korea Securities Finance Corporation New York Life Investment Management, Korea Advisor Chief Representative Head of Sales, DWS (Deutsche Asset Management), Korea Head of International Sales Team, Hyundai Investment & Securities Hyundai Investment Chief Representative, New York Office Research & Analysis Division / International Business Division
Hoon Lee Chief Investment Officer	B.A., Economics, Sogang University MBA, University of California at Berkeley, USA	Korea Investment Corporation Senior Managing Director, Investment Strategy & Innovation Division Senior Managing Director, Investment Strategy Group Managing Director, Asset Allocation Team Managing Director, Macro Research Team Managing Director, Industry Research Team Korea Investment & Securities Co., Woori Investment & Securities, Samsung Securities Co. Research Centers Macquarie-IMM Asset Management Department LG Investment & Securities Research Center • Daewoo Capital Management
Hoseok Jung Chief Risk Officer	B.A., Economics, Seoul National University MBA, University of Rochester, USA	Bank of Korea Director General, Planning & Cooperation Department Director General, Mokpo Branch Director, Reserve Management Strategy Division and Head, External Fund Management Team, Reserve Management Group Representative Officer, Shanghai Representative Office Head, International Planning & Cooperation Team and Head, Foreign Exchange Market Team, International Department Personnel Management Team, Human Resources & Administration Department Dispatched officer, International Finance Department, Ministry of Finance and Economy Reserve Investment Team 1 and Team 3, Reserve Management Department Personnel Division, Personnel Department Overseas Research Division and Monetary & Financial Division, Research Department
Sangmin Lee Chief Operating Officer	B.A., Accounting and Finance, Sungkyunkwan University	Korea Investment Corporation Chief Compliance Officer Managing Director, Investment Operations Management Division President, KIC Singapore Head, Corporate Strategy Group Head, Investment Operations Group Director, General & Financial Affairs Group, Deutsche Asset Management Head, Risk Management Team, PCA Asset Management Head, Fund Accounting Team, Franklin Templeton Investment