Kyu-Hong Lee, Former Teachers' Pension CIO, Appointed to Lead National Pension Service's 1,800 Trillion Won Fund

Two-Year Term Begins on the 15th as Market Watches Closely
Internal Candidate Dae-soon Kim Appointed as New Welfare Director

Kyu-hong Lee, the new Fund Management Director of the National Pension Service. Source=The Asia Business Daily DB

Kyu-hong Lee, former Head of Asset Management Division at the Teachers’ Pension, has been appointed as the next Chief Investment Officer (CIO) of the National Pension Service, which manages more than 1,800 trillion won in assets.

On the 14th, the National Pension Service announced the appointment of Kyu-hong Lee as the new Fund Management Director (CIO). His term will begin on the 15th of this month and last for two years. The new Fund Management Director is appointed by the President of the National Pension Service after being recommended by the Fund Management Director Recommendation Committee and having the work performance contract approved by the Minister of Health and Welfare.

Born in 1966, the new Fund Management Director has accumulated extensive experience in asset management and investment at Samsung Asset Management, DB Asset Management, and Eastspring Asset Management (now Kadence Asset Management). He later served as Chief Investment Officer (CIO) of NH-Amundi Asset Management, CEO of Ascendas Asset Management (now CapitaLand Investment Management), and CIO of the Teachers’ Pension. He is regarded as an expert with experience in both private asset management and public pension fund management.

The National Pension Service began an open recruitment process in June, conducting document screening, interviews, and personnel vetting. This time, an unusually large number of candidates—four in total—made it onto the final shortlist compared to previous selections.

As the National Pension Fund’s reserves have exceeded 1,800 trillion won this year, there is heightened attention on the CIO’s decisions regarding asset allocation and investment. In particular, with independence of the role having become a topic of debate this year, the market is closely watching the actions and decisions of the new Fund Management Director.

Meanwhile, the National Pension Service also announced the appointment of Dae-soon Kim as the new Welfare Director, who will oversee welfare-related operations such as retirement support and disability support. The Welfare Director is appointed by the President of the NPS following a recommendation by the Welfare Director Recommendation Committee.

The new Welfare Director, Kim, joined the National Pension Service in 1999 and has held key positions such as Head of Strategic Management, Head of Future Innovation Planning, and Head of the IT Division.

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