KIC expects AUM to hit $50 billion

Executives at Korea Investment Corporation say the country’s sole sovereign wealth fund could see its total asset size grow from around $40 billion to up to $50 billion by the end of 2011. That depends on the country maintaining its surplus current account balance despite the won appreciating against the US dollar. It’s this surplus that fuels the growth in Bank of Korea’s foreign reserves. BoK is one of KIC’s two fund providers, along with the Ministry of Strategy and Finance. …