South Korea’s sovereign fund aims to double AUM by 2020

Eun Sung-soo, CEO of the Korea Investment Corp., said the sovereign fund plans to increase its assets under management to $200 billion by 2020, according to Yonhap News.

It will increase collaboration with public funds in investments in overseas private equities and real estate as well as support in overseas infrastructure bids by local companies. KIC will also up the share of investment in alternative assets to 20 percent.

The CEO announced this commitment in 2016, months after he took office on Jan. 19, 2016, replacing Ahn Hong-chul.

South Korea established the KIC in July 2005 as part of its plans to increase sovereign wealth and bolster the local financial sector. It manages assets entrusted by the government and the central bank.