Korea Investment Corp., Seoul, reshuffled its leadership team on the 15th anniversary of its founding, the $157.3 billion sovereign wealth fund's said Tuesday.
Hoon Lee, head of KIC's asset allocation team, was named head of the fund's investment strategy division, taking on some responsibilities from Daeyang Park, KIC's chief investment officer. Mr. Park remains in his CIO role. Mr. Lee also took on the title of deputy CIO.
James Jongho Kim, head of private equity, was appointed head of KIC's alternative investment division and deputy CIO.
Messrs. Lee and Kim retain their previous responsibilities as head of asset allocation and head of private equity, respectively.
Mr. Kim replaces Sooyong Jung, who was named chief compliance officer.
Mr. Jung replaces Jihwan Chung, who takes on the role of chief operating officer.
Mr. Chung replaced Sangjoon Kim, who retired last month, according to a KIC spokesman.
Earlier this month CEO Heenam Choi announced a new "sustainable growth vision" to guide the fund over the next 15 years, with the goal of growing KIC's assets to $400 billion while contributing to the development of South Korea's finance industry.
