Korean wealth fund KIC back to posting positive returns in 2023 driven by equity gains

Korean wealth fund KIC back to posting positive returns in 2023 driven by equity gains

South Korean 10,000 won note is seen on U.S. 100 dollar notes in this picture illustration taken in Seoul, South Korea, December 15, 2015. REUTERS/Kim Hong-Ji

South Korea’s $189.4 billion sovereign wealth fund, Korea Investment Corporation (KIC), posted a positive annual return of 11.6% in 2023—a turnaround from the negative returns of the previous year—driven by strong gains on its investments in traditional assets.

Edited by: Pramod Mathew