Korea Investment Corporation (KIC) has named Choo Heung-Sik as new chief information officer, replacing Lee Dong-ik, who left the firm in January.
In his new role, Choo Heung-Sik will be in charge of the Korea Investment Corporation’s (KIC) US$74 billion in assets.
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Prior to joining KIC, Choo most recently served at the Bank of Korea (BoK) as head of reserve management group since November 2011.
Choo has started his career at Bank of Korea in 1982, and later became CIO and CRO at the bank. At BoK, Choo was responsible to diversify Korea’s foreign exchange reserves and had been moving capital into Chinese debt and equities. Earlier to this, he also spent some time at the World Bank.
KIC was set up in July 2005 to enhance sovereign wealth and contribute to the development of Korea’s domestic financial industry.
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