KB Asset Management Receives Deputy Prime Minister's Commendation for Contributions to Private Power Generation

KB Asset Management received a commendation award in recognition of its contribution to the development of the domestic private investment system.

On the 12th, KB Asset Management was awarded a citation by Deputy Prime Minister and Minister of Strategy and Finance Choi Sang-mok at the "30th Anniversary of Private Investment Commemorative Private Investment Cooperation International Conference" held at the Fairmont Hotel in Yeouido, Seoul, hosted by the Ministry of Strategy and Finance and the Korea Development Institute (KDI).

KB Asset Management raised approximately 11.5 trillion KRW for a total of 71 infrastructure projects aimed at investing in social overhead capital under the Private Investment Act.

It played a key role in private sector investment in various social infrastructure including roads, tunnels, and railways, such as the Incheon Airport Railroad private investment project fund, the largest single project, and the Western Inland Expressway private investment project fund, the longest private road route in Korea.

‘KB Balhae Infrastructure Investment Company (KB Balhae Infra)’, operated by KB Asset Management as a collective investment business operator, has supplied liquidity worth about 1.2 trillion KRW to eight government-led private investment projects, including the Daegu-Busan Expressway private investment project, since its establishment in January 2006.

KB Balhae Infra is the first domestic native infrastructure fund to pursue listing on the Korea Exchange. It is evaluated as having laid the foundation for promoting private investment projects in social overhead capital led by the government and serving as a public-private win-win platform where the general public can participate in government projects and enjoy related profits.

Kim Young-sung, CEO of KB Asset Management, said, "KB Asset Management has strived to supply liquidity to the domestic infrastructure market for about 20 years. We expect active investment following the listing of KB Balhae Infra through the government's private investment activation plan, and we will do our best to strengthen national competitiveness and improve public convenience in the future."

On the 12th, at the Fairmont Hotel in Yeouido, Seoul, Choi Sang-mok, Deputy Prime Minister and Minister of Economy and Finance, and Kim Young-sung, CEO of KB Asset Management (right), are taking a commemorative photo at the "30th Anniversary of Private Investment Commemoration Private Investment Cooperation International Conference." Photo by KB Asset Management

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