Korea Investment Corporation
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| Korea Investment Corporation | |
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| Type | Government-linked company |
| Founded | 2005 |
| Headquarters | Seoul, South Korea |
| Key people | Serck-Joo Hong, Chief Executive Officer industry = Investment services |
| Website | http://www.kic.go.kr/ |
The Korea Investment Corporation (KIC, Korean: 한국투자공사) is a global investment management company established by the Government of South Korea in 2005 by the Korea Investment Corporation Act. The company manages some of South Korea's foreign reserves, specializing in overseas investments. Although the KIC is government-owned and government-established, it runs commercially and independently.
The KIC initially received USD 17 billion of foreign exchange reserves from the Bank of Korea and USD 3 billion of foreign exchange stabilization fund from the Ministry of Finance and Economy of Korea.
On January 15th, 2008, the KIC invested $2 billion in Merrill Lynch & Co, a United States-based financial services firm. [1]
[edit] References
- ^ KIC in $2 billion investment in Merrill Lynch.. Clearly Gottlieb Steen & Hamilton LLP. (2008-02-27).
[edit] External links
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