Founded in 2005 to increase national wealth and contribute to the growth of Korea’s finance industry
The Korea Investment Corporation Act stipulates that KIC shall have a corporate governance structure that ensures investment independence and operational autonomy from the government sponsors.
(Article 24, 35, Korea Investment Corporation Act)
KIC’s 9-member Steering Committee has six professionals from the private sector, two representatives of institutions that have entrusted KIC with assets (the Minister of Strategy and Finance and the Governor of the Bank of Korea), and the CEO of KIC. Private sector members are nominated by the Civil Member Candidate Nomination Committee and appointed by the President of the Republic of Korea. Each serves a two-year term. One of these members is elected chairman of the Steering Committee.
The Investment Subcommittee and the Risk Management Subcommittee support matters related to the Steering Committee’s mid-and long-term investment policies. The Budget Deliberation Subcommittee and the Evaluation & Compensation Subcommittee deliberate issues pertaining to the operation of KIC and performance evaluation.