Heenam Choi, an executive director of the International Monetary Fund and former South Korean deputy finance minister, was appointed as chief executive officer of the Korea Investment Corporation (KIC) on March 28.
Finance Minister Dong-yeon Kim named Choi as the new head of the South Korean sovereign wealth fund, according to a statement from the Ministry of Strategy and Finance.
Choi, 58, is succeeding Sung-soo Eun who moved to the Export-Import Bank of Korea as CEO last September, about one and a half years before the end of his three-year term.
Choi had filled senior government posts, including deputy finance minister of international affairs and director general of the international finance.
In February 2016, he filled the World Bank executive director’s office, vacated by Eun who quit to serve as the KIC’s CEO. He served out the remaining eight-month term of Eun at the World Bank.
He graduated from Hanyang University’s department of economics and began his bureaucratic career at the finance ministry after passing the senior civil service exam.
KIC manages around $130 billion of assets entrusted by the finance ministry, the Bank of Korea and public funds.
By Ilgyu Kim
<Edited by Yeonhee Kim>