Choi Jong-seok took office as the new president of Korea Investment Corp. on July 19. In his inaugural speech, Pres-ident Choi announced future directions for KIC assets, such as rational risk management, maximization of profits from investment management, the expansion of strategic and alternative investments and stronger research. To this end, Choi suggested four strategies; gaining people’s trust, building a rational performance evaluation system, contributing to making Korea a leading financial country and organizational harmony and unity.
“Since the global financial crisis, sovereign funds have become more important than ever,” Choi said, adding, “We, the employees of KIC, should make every effort to expand national wealth on the foundation of people’s trust in KIC.”
Choi has held important posts in the international fund and asset management sector for approximately 35 years. These include serving as head of International Headquarters, head of Management Strategy Headquarters and CFO and president at Hana Bank, president of Hana Allianz Investment Trust, and chairman of Allianz Global Investors.
Choi boasts considerable insight into international finance and risk management, including coping with four financial crises, such as the 2008 US sub-prime mortgage crisis and the 1997 financial meltdown in Korea. Choi has strong leadership and a strong sense of responsibility, and emphasizes organizational harmony and unity. He is considered to be a meticulous person and one who is very driven.
Choi was born in Wonju, Gangwon Province. He graduated from Gyeoggi High School and the Political Science Department of Hankook University of Foreign Studies, and received an MBA degree from the Business School of Columbia University.