Shinhan I-ATAS Begins General Administrative Management for KIND PIS Fund

[Asia Economy Reporter Kwon Haeyoung] Shinhan iTAS announced on the 7th that it has officially commenced general administrative management duties for the Global Plant Construction Smart City Fund (PIS Fund) of the Korea Infrastructure and Urban Development Corporation (KIND).

The PIS Fund is a fund established as part of the government's New Southern Policy, raising a total of 1.5 trillion KRW through government and public institution investments as well as private capital, with the purpose of investing in overseas infrastructure development projects such as overseas plants, infrastructure, and smart cities.

Shinhan iTAS was selected as KIND's general administrative management company through an open competitive bidding process in June last year, and in December signed a contract with Samsung Asset Management, the lead manager of KIND's PIS Fund. Over the next four years, it will provide total back-office services including fund NAV calculation, operational support, and management of related laws and operational regulations.

Since December last year, Shinhan iTAS has been handling administrative management duties for the portion of the PIS Fund directly managed by Samsung Asset Management. Starting from May this year, it will also manage administrative duties for the sub-asset managers of the PIS Fund, including Hanwha Asset Management, KDB Infrastructure Asset Management, and Korea Investment Trust Management. To this end, an in-house Total Quality Control (TQC) task force (TF) has been formed to concurrently develop IT programs aimed at enhancing service quality.

Kim Daehee, Vice President of Shinhan iTAS, stated, "As a business partner, we will do our best to ensure the successful advancement of KIND's overseas infrastructure projects under the government's New Southern Policy," and added, "Through this opportunity, Shinhan iTAS will grow into a world-class capital market infrastructure company capable of supporting various administrative management tasks not only domestically but also overseas."

This content was produced with the assistance of AI translation services.