The Korea Investment Corporation (KIC) announced on Jan. 29 that it has established its fifth overseas hub, following the opening of offices in New York, London, Singapore, and San Francisco.
The new hub is the Mumbai office in India, marking the KIC’s first overseas presence in an emerging market. The KIC received approval for office establishment from the Reserve Bank of India (RBI) on Jan. 24.
KIC President Jin Seung-ho stated, “In the future, the Mumbai office will actively explore investment opportunities in the local Indian market and play a crucial role in solidifying the KIC’s position as a global investor.”
Earlier, the KIC developed a strategy for localization in emerging growth regions, extending beyond traditional financial hubs, and explored the establishment of new offices in these areas. Consequently, Mumbai, India, emerged as the final candidate, and preparations for setting up the office have been underway since last year.
India is being assessed as a crucial beneficiary in the changing global economic landscape, particularly due to supply chain realignment. Coupled with government policy support, such as the “Make In India” program aimed at revitalizing the manufacturing industry, India has seen a rapid increase in foreign direct investment (FDI) from various countries.
Furthermore, India receives praise for possessing structural growth factors across the entire economy, including a relatively young and dynamic population structure and a growing consumer market.
The KIC is focusing on securing promising alternative investments through its Mumbai office. Particularly, it is attentive to venture capital (VC) and private equity (PE) investment opportunities arising from India's abundant information technology (IT) ecosystem and the expanding domestic market. Additionally, there are plans to invest in tangible assets such as infrastructure and real estate to support India's economic development.