Park Daeyang, CIO of Korea Investment Corporation, Investment Cooperation with Singapore Sovereign Wealth Funds GIC and Temasek

by Park Soyeon

Published 15 Apr.2022 09:32(KST)

Updated 25 Jul.2023 09:19(KST)

Daeyang Park, Chief Investment Officer (CIO) of Korea Investment Corporation (KIC)

[Asia Economy Reporter Park So-yeon] Park Dae-yang, Head of Investment Management at Korea Investment Corporation (KIC), began his first overseas network strengthening activities of the year by reviewing the investment market in Singapore.

According to the investment banking (IB) industry on the 15th, Park visited Singapore on a 4-night, 6-day business trip from the 21st to the 26th of last month. This was his first overseas trip in about four months since visiting the New York branch and San Francisco office in the United States last November.

During the Singapore trip, Park met with the Chief Investment Officers (CIOs) of the Government of Singapore Investment Corporation (GIC), ranked 6th globally in asset management scale, and Temasek, a state-owned investment company wholly owned by the Singapore Ministry of Finance and ranked 7th worldwide, to share strategic directions and establish investment cooperation networks.

At the meeting with Temasek’s CIO, focused discussions were held on climate change response and blockchain investments. They also shared visions regarding the outlook for the Indian and Chinese markets and the volatility of the global stock markets.

Discussions with the GIC Group CIO centered on quantitative investment and the use of artificial intelligence. Quantitative investment refers to an investment method that develops trading strategies using all objective numerical indicators provided by securities firms or companies. Additionally, they exchanged views on the role of alternative investments and the progress of responsible investing.

Singapore, as a financial hub of Asia, hosts many global asset management firms responsible for entrusted management of KIC assets. Park visited GLP, a leading operator in Chinese logistics centers; ESR, a specialist in Asia-Pacific logistics facilities; KKR, the world’s largest private equity firm; and Seviora, Temasek’s intermediate holding company, to discuss the status of KIC’s asset management and future market outlooks by asset type and region.

Established in 2005, KIC is South Korea’s sovereign wealth fund that invests all entrusted foreign currency assets held by the Ministry of Strategy and Finance and the Bank of Korea overseas. To date, it has received $115.1 billion (approximately 137.2 trillion KRW) and generated about $86 billion in returns. As of the end of August last year, it achieved returns exceeding 8%, and its assets under management surpassed $200 billion for the first time. The current assets under management are approximately $201 billion.