Heenam Choi has been recommended by Kim Dong Yeon, Korea's deputy prime minister and minister of strategy and finance, to assume the role of CEO of the Korea Investment Corp., a spokesman for the strategy and finance ministry confirmed Thursday.
Mr. Choi will officially become CEO after South Korean President Moon Jae-in approves the recommendation, which should take place soon, said the spokesman in an email.
Mr. Choi will take over that role from Sung-soo Eun, who left in September to become CEO of the Export-Import Bank of Korea.
Mr. Choi comes to KIC from the International Monetary Fund, where he served as an executive director.
The sovereign wealth fund's investment portfolio was valued at $110.8 billion at the end of 2016.