IMF director nominated as KIC president

The $130 billion South Korean sovereign fund is looking to appoint a new head.

The South Korean Ministry of Strategy and Finance has recommended Choi Hee Nam as a nominee for the president of Korea Investment Corporation (KIC). He will have to pass the recommendation committee’s review and examination before the official appointment is made.

Choi is a director of International Monetary Fund (IMF) and a member of South Korea’s Ministry of Strategy and Finance. He will succeed Sung Soo Eun if his appointed is approved.

Platinum subscribers may click here for the KIC’s full profile, including key contacts, allocation strategy and fund investments.