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Sovereign wealth fund

KIC CEO Choi Heenam named S.Korea’s financial ambassador

Nov 04, 2020 (Gmt+09:00)

South Korea’s Ministry of Foreign Affairs has appointed Choi Heenam, chief executive of the Korea Investment Corporation (KIC), as the country's financial cooperation ambassador, an honorary position with a one-year term.

The sovereign wealth fund’s CEO takes the concurrent role to oversee national campaigns launched to draw foreign investment and gather input from foreign financial services firms as part of the government's efforts to promote Korea as a global financial hub, the ministry said on Nov. 3.

His diplomatic activities will be based on South Korea's fifth master plan to become a global financial center, set out by the Financial Services Commission, the nation's top financial watchdog.
KIC CEO Choi Heenam delivers a keynote speech at the ASK Summit 2020 on Oct. 28.
KIC CEO Choi Heenam delivers a keynote speech at the ASK Summit 2020 on Oct. 28.

Choi, a former executive director of the International Monetary Fund, has been heading the $157 billion sovereign wealth fund since 2018.

Previously, he served as deputy finance minister of international affairs and director general of international finance. He also had an eight-month stint as a World Bank executive director in 2016.

Write to Hyun-il Lee at hiuneal@hankyung.com

Yeonhee Kim edited this article.

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