KIC Hosts Social Contribution Idea Contest

Korea Investment Corporation (KIC), as the only sovereign wealth fund in the Republic of Korea, is seeking innovative social contribution project ideas to fulfill its social responsibility.

KIC announced on the 1st that it will hold the "Sovereign Wealth Fund KIC Social Contribution Idea Contest" until the 31st of this month. This contest is designed to discover social contribution ideas that can positively impact the lives of future generations in Korea or ideas based on the expertise of a sovereign wealth fund.

The themes are ▲ social contribution ideas related to supporting and solving social issues for a happy society for Korea’s future generations of children and youth ▲ social contribution ideas linked to KIC’s overseas investment expertise.

Winners will receive a certificate from the KIC President along with prize money up to 2 million KRW (totaling 9 million KRW). Any Korean citizen can participate, and submissions are accepted from the 1st to the 31st of this month. Applications can be submitted through the contest website. The evaluation process will proceed in three stages: 1st internal review → 2nd expert review → 3rd internal staff preference survey.

Evaluation criteria include ▲ public interest ▲ efficiency ▲ strategic value ▲ business feasibility. The final winners will be announced on the website in October, with individual notifications also planned.

President Jin Seung-ho said, “We ask for many applications from those with creative ideas who can help create happiness for Korea’s future generations together with KIC.”

Meanwhile, KIC is the only sovereign wealth fund in Korea, investing foreign currency entrusted by the government and the Bank of Korea overseas. Established in 2005, it manages assets totaling 180.9 billion USD as of the end of June this year. KIC began its social contribution activities in 2007 when employees voluntarily formed a volunteer club.

Currently, based on KIC’s own budget and employee donations, it carries out various activities such as supporting education expenses for future generations, providing books and reading programs to island and mountainous regions, medical volunteer work, sponsoring overseas children, and supporting the establishment of overseas eco-friendly energy projects.

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