By 
South Korea’s $200 billion sovereign wealth fund to expand investments in US startups as it sets its eye on the metaverse and AI, according to a report by Bloomberg on Friday.
Seoungho Jin, who took over the leadership of Korea Investment Corp. in mid-2021, is also eyeing hotels, which he projects as a good play on the global rebound from the Covid-19 pandemic.
Jin is focusing beyond the recent economic crash in listed technology stocks and the wider risks to the sector in 2022 from the Fed hiking interest rates higher.
He observes alternative assets accounting for nearly 25% of KIC’s portfolio by 2025 compared to nearly 17% last year, and assets under management expanding to $300 billion.
KIC has nearly doubled in size in the last five years, after a slow start when it was formed in 2005 to expand national wealth and contribute massively to the nation’s finance industry.
Comments