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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Performance

KIC blamed for huge investment loss

Posted on 22 October 2008

From Koreatimes.co.kr: Lawmakers battered the Korea Investment Corporation (KIC) for its huge investment losses at a National Assembly audit, Tuesday. One of them said KIC has no reason to exist as trade account turned into a deficit.

Rep. Kim Hyo-seuk of the main opposition Democratic Party (DP) criticized KIC which lost 850 billion won in its investment in Merrill Lynch. “It recorded 32.5 percent investment loss in nine months,” the lawmaker added….. Full Article: Source


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