KIC Signs MOU with Woori Bank for Overseas Alternative Investment Cooperation

[Asia Economy Reporter Park Soyeon] The sovereign wealth fund KIC and Woori Bank have pledged to actively cooperate in the field of overseas alternative investments.

Korea Investment Corporation (KIC) signed a memorandum of understanding (MOU) for cooperation in overseas alternative investments on the afternoon of the 8th at Woori Bank’s headquarters, with executives and employees from both institutions in attendance.

The two institutions plan to comprehensively collaborate on discovering and jointly participating in investment projects related to overseas real estate and infrastructure assets, as well as exchanges, education, and research.

As part of the globalization of financial institutions, KIC has provided opportunities for domestic banks to participate in alternative investment loan syndications through their overseas branches.

As of the end of last year, the scale of loan syndications arranged by KIC amounts to approximately 540 million USD (about 580 billion KRW).

President Choi Heenam stated, "We expect great synergy from the combination of KIC’s investment network as a specialized overseas investment institution and Woori Bank’s financial competitiveness as it grows into a global financial company. KIC will continue to contribute to the development of the domestic financial industry by leveraging its abundant overseas investment experience and access to high-quality information."

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