The Korean government has unveiled the National Pension Service's new CEO, with four candidates shortlisted for CIO amid a perceived shift in emphasis in the recruitment process.
The chairman and chief investment officer of the $450 billion state retirement fund have been forced to step down after a disagreement between the two.
Choi Kwang has refused to resign after being accused of overstepping his remit. He has reportedly opposed government plans to turn the pension fund's investment office into a state corporation.
The $360 billion National Pension Service has started its search for a new investment head, as it seeks to increase assets by 67% over the next five years.
Choi Kwang becomes the first former health and welfare minister to lead Korea’s National Pension Service. He now faces installing a new management team.