[2023 National Audit] "KIC, Which Claimed to Invest in ESG, Invested 400 Billion Won in Nuclear Weapons Companies"

Korea Investment Corporation (KIC) has been maintaining investments exceeding $300 million (approximately 403.2 billion KRW) in eight nuclear weapons manufacturers over the past five years, according to recent reports.

According to data received by Jang Hye-young, a member of the National Assembly's Strategy and Finance Committee from the Justice Party, from KIC on the 24th, as of June this year, KIC is investing $338.7 million in companies related to nuclear weapons production.

Political Desk Interview_Jang Hye-young, Justice Party Member. Photo by Hyunmin Kim kimhyun81@

KIC's investment in companies related to nuclear weapons production peaked at $511 million in 2020, rising from $311.1 million in 2018 to $459.6 million in 2019. Subsequently, it recorded $431.84 million in 2021 and $431.3 million last year.

The company receiving the largest investment was Honeywell International, which secured $116.4 million. Honeywell is a leading company that produces and repairs warheads and launch vehicle components for intercontinental ballistic missiles (ICBMs). Additionally, Lockheed Martin, which manufactures key components, and Boeing, which produces nuclear weapon launch vehicles, received investments of $51.6 million and $51.4 million respectively.

Assembly member Jang stated, "If the investment corporation claims to practice ESG (Environmental, Social, and Governance) management, it should do so properly without excuses," and urged reflection on whether investing national wealth funds in nuclear weapons that threaten the entire world aligns with the UN Principles for Responsible Investment, calling for divestment. KIC joined the UN Principles for Responsible Investment last year to strengthen ESG-based investment capabilities and international cooperation.

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