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Sovereign wealth funds

KIC CEO to meet GIC, Temasek execs during Singapore trip

Dec 04, 2020 (Gmt+09:00)

KIC's CEO Choi Heenam
KIC's CEO Choi Heenam

Korea Investment Corporation (KIC) Chief Executive Choi Heenam will make his first overseas business trip in 11 months to visit Singapore this month, where he is scheduled to meet CEOs of Singapore's sovereign wealth fund GIC and Temasek International, KIC said on Dec. 4.

Choi will leave for Singapore on Dec. 5 with an aim to strengthen ties with global investors and to promote South Korea as an Asian financial center, just a month after he was appointed the country's financial cooperation ambassador.

During the trip, he will meet with Singapore's Senior Minister Tharman Shanmugaratnam, GIC CEO Lim Chow Kiat and Temasek International CEO Dilhan Pillay to discuss cooperation and learn about Singapore's role as a financial center. He will also hold individual meetings with global asset managers with operations in Singapore.

The business trip has been prepared on the occasion of the 2020 Asia Summit to be hosted by the US think thank Milken Institute Dec. 8-10, according to KIC. It will be his first overseas business trip since he visited Hong Kong in January of this year. 

PANELIST AND SPEAKER

Choi will participate as a panelist of the Dec. 9 global capital market session of the summit, where he will discuss KIC’s role in the evolving capital market and new investment trends including environmental, social and governance (ESG) matters.

He is also scheduled to participate in a Dec. 9 social gathering to be held by the South Korean embassy in Singapore. Participants at the networking event will include officials from Korean financial institutions with operations in Singapore and Koreans working at global financial institutions, including GIC, Temasek and investment companies.

The social gathering is part of South Korea's diplomatic efforts to strengthen networks in Southeast Asian countries so as to help Korean financial services firms expand into the region. It will be the first such event to be held in a major economy since the COVID-19 struck.

Additionally, Choi will present a congratulatory speech for the SFFxSWITCH 2020, a week-long round-the-clock digital and physical event, to be co-hosted by the Singapore Fintech Festival and the Singapore Week of Innovation and Technology (SWITCH) on Dec. 7-11.

"South Korea's status as K-brand has been upgraded recently, and our financial infrastructure has made substantial improvement," Choi said in a KIC statement. "Through face-to-face communication, I will learn about Singapore's strengths and promote South Korea's competitiveness to be a trailblazer for the development of our financial industry."    

In line with the fast track entry program, he will be exempt from the 14-day quarantine in Singapore.

Write to Seon-Pyo Hong at rickey@hankyung.com

Yeonhee Kim edited this article.

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