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 and other public funds, specializing in overseas investments. Although the KIC is government-owned and government-established, it runs commercially and independently.
KIC initially received US$ 17 billion of foreign exchange reserves from the Bank of Korea and US$ 3 billion of foreign exchange stabilization fund from the Ministry of Strategy and Finance of Korea. Through the end of 2011, KIC manages around USD 45 billion. The asset classes that KIC may invest in include securities (stocks and bonds), foreign exchanges, derivatives, as defined under the KIC Act. At present, KIC invests in asset classes that are specified in the investment management agreements between KIC and its clients.
KIC reports on its business to the National Assembly in accordance with the National Assembly Act and the Act on the Inspection and Investigation of State Administration, and is subject to annual inspections conducted by the National Assembly.
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