Dong-ik Lee resigned as chief investment officer of Korea Investment Corp. for personal reasons, effective Jan. 3, confirmed Jangho Lee, head of corporate planning and coordination for the $65 billion sovereign wealth fund.
A search for a replacement could take between two and three months, Jangho Lee said.
Kee-Hong Rhee, a former head of investment strategy who most recently served as head of the KIC's New York office, has returned to Seoul to serve as interim CIO, the spokesman said.
Dong-ik Lee confirmed in an e-mail that he had resigned, adding he would remain at KIC as a “senior adviser” for the next three months. He provided no further details regarding his reasons for stepping down or his plans.
Dong-ik Lee was appointed CIO of the sovereign wealth fund in April 2012, for a three-year stint.
His departure follows other top-level changes at the Seoul-based fund in recent months. On Dec. 5, Hongchul Ahn was named president and CEO of KIC, replacing Chong-Suk Choi, who resigned in October.
