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Governance
Governance
Establishing a Governance Structure that Ensures Investment Independence and Operational Autonomy
KIC has established a governance structure that ensures the independence of its investment decisions and the autonomy of its operations in accordance with the Korea Investment Corporation Act. (Article 35 of the Korea Investment Corporation Act)
Responsibilities and Authority of the Steering Committee
The Steering Committee has the authority to deliberate and make decisions on a wide range of matters, including amendments to the Articles of Incorporation, mid- to long-term investment policies, basic operational guidelines, changes in financial status, asset delegation, appointment and dismissal of executives, approval of budgets and financial statements, performance evaluations, and audits of the Corporation’s operations. (Article 9 of the Korea Investment Corporation Act)
Board of Directors
KIC has a Board of Directors composed of the CEO and other directors. In accordance with internal regulations, the Board makes detailed decisions on matters related to the Corporation’s operations, including organizational management, asset management, risk management, compliance, human resources, and accounting. (Article 24 of the Korea Investment Corporation Act)
CEO
The CEO of KIC is appointed by the President of the Republic of Korea upon the recommendation of the Minister of Economy and Finance, following nomination by the CEO Recommendation Committee and deliberation by the Steering Committee, in accordance with Article 18 of the Korea Investment Corporation Act.
The CEO represents KIC, oversees its operations, convenes the Board of Directors, and serves as its Chair.
Auditor
In accordance with the Korea Investment Corporation Act, KIC maintains an independent audit function, separate from its executive management. The Statutory Auditor is appointed by the Minister of Economy and Finance following deliberation by the Steering Committee.
The Auditor is responsible for auditing KIC’s operations and financial accounts, establishing an annual audit plan, and preparing a comprehensive annual audit report, which is submitted to the Steering Committee.
Directors
KIC’s directors are appointed by the CEO following deliberation by the Steering Committee. Each director serves a three-year term.