Kiho Kwon was named head of Korea Investment Corp.'s newly opened Mumbai office, the sovereign wealth fund said in a statement on Jan. 29.
Kwon retains his position as director at the investment strategy and innovation group, which he joined early last year to prepare for the launch of the Mumbai office, a spokesperson said. He has been with KIC since 2015.
The new office marks KIC's fifth overseas launch after the fund opened an office New York office in 2010, London in 2011, Singapore in 2017 and San Francisco in 2021.
"The Mumbai office will become an integral part of KIC's sustainable growth by capturing new investment opportunities in the world's fastest-growing economy, primarily in the private equity, venture capital, real estate and infrastructure markets," CEO Seoungho Jin said in the statement.
The office will hire two local professionals to join the team, including a private equity specialist. The office will focus on research, deal sourcing, building relationships with investment managers in India and providing support for alternative investments at KIC.
KIC had $181.4 billion in assets as of Aug. 31.