The Korea Investment Corporation, the country’s sovereign wealth fund, has named Shin-woo Kang as its chief investment officer, the firm said in a statement.
In his new role, Kang manages the investment portfolio of the firm, which totalled $91.8bn as of the end of 2015.
Breaking down its investment portfolio, 86.3% was allocated to traditional assets, such as equities (39.5%) and fixed income (34.4%); the remaining portion was allocated to alternative assets (12.4%), which include hedge funds, private equity, real estate, infrastructure and cash equivalent investments, according to the firm.
Kang has also been named a member of the executive management.
He replaces Heung-sik Choo, who resigned in February to join the World Bank as director of investment management.
Kang has 30 years of experience in the Korean asset management industry.
The Seoul National University Law graduate was also formerly the CIO of Korea Investment Management and PCA Asset Management.