KIC nominates Choi Chong-suk as new CEO

Jul 14, 2011

The $45 billion sovereign wealth fund surprises the market with a pick from the private sector with ties to Allianz Global Investors, Hana Bank and Korea Exchange Bank.

Korea Investment Corporation is expected to announce today the formal nomination of Choi Chong-suk as its next chief executive. The $45 billion sovereign wealth fund named Choi internally yesterday after a long-publicised search for someone to succeed Chin Young-wook, who is retiring, having completed his three-year term.

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