Central banker named new CIO at KIC

Korea’s $74 billion sovereign wealth fund has named Choo Heung-Sik as its fourth chief investment officer to replace Lee Dong-ik, who resigned in January. Choo resigned as head of reserves management at the Bank of Korea last month to apply for the CIO position at Korea Investment Corporation (KIC). His term at the central bank had been due to end this coming November. The appointment appears fitting, given that Choo’s term at BoK is viewed as a pioneering and progressive one. U…