KIC adopts stewardship principles

By Yonhap

Published : Dec. 3, 2018 - 15:54

The Korea Investment Corp., a sovereign wealth fund, said Monday it is adopting a set of stewardship principles to actively engage in corporate management as major shareholders.

The principles require that the KIC review issues related to investment performance, risk management and governance structure that can influence long-term corporate values. They also call for partnerships with global investors who share the same goals.

(Yonhap)

Officials said KIC will introduce and implement the principles in phases and follow up with matching steps, such as information disclosures and reports. These actions will help secure sustainable profits and raise the KIC's status as a sovereign fund, they said.

The KIC recently picked a global asset manager for some $300 million in environmental, social and governance investment. (Yonhap)