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Report: South Korea to appoint IMF director as CEO of sovereign wealth fund

The South Korean government is expected to appoint Choi Hee-nam, an executive director of the International Monetary Fund, as CEO of Korea Investment Corp., The Chosun Ilbo reported March 28, citing a government official.

The official said Kim Dong-yeon, the country's deputy prime minister and minister of strategy and finance, proposed Choi's appointment for government approval.

The CEO post at South Korea's sovereign wealth fund, which has US$130 billion under management, has been vacant since Eun Sung-soo moved to Export-Import Bank of Korea in September 2017.

Choi is expected to take office in early April, the publication said.