Lee Kyu-hong, former chief investment officer at Teachers' Pension Korea, has been appointed to head fund management at the National Pension Service, the world's third-largest pension fund, which manages 1,866 trillion won ($1.4 trillion) in assets, the pension fund announced Monday.
Lee will assume his duties as CIO on Tuesday. He will serve a two-year term with the possibility of annual reappointment based on performance.
Having held senior investment positions at both private and public asset management firms, including serving as CIO of Eastspring Investments Korea and NH-Amundi Asset Management, and CEO of Ascendas Asset Management Korea, Lee is regarded as a multi-asset investment expert with extensive experience in both traditional and alternative investments.
Lee served as CIO of the Korea Teachers' Pension from 2019 to 2023, completing his initial two-year term before securing two consecutive one-year extensions.
Under Lee's leadership, the pension fund posted three consecutive years of strong investment returns, at 11.15 percent in 2019, 11.49 percent in 2020 and 11.95 percent in 2021.
In 2021, the fund generated 2.47 trillion won in investment profits, marking its highest annual investment profit at the time.
As the NPS' CIO, Lee will manage the rapidly growing pension fund while sustaining its long-term investment returns.
The NPS' fund reserves rose to 1,866 trillion won as of end-June, up sharply from 1,458 trillion won at the end of 2025. The fund posted a 27.22 percent investment return in the first half of the year, marking its highest-ever half-year performance.
Lee's appointment brings to a close Seo Won-joo's tenure as CIO, a position he had held since December 2022 and continued to serve in after his official term expired at the end of last year.
silverstar@heraldcorp.com
