SEOUL, June 19 The South Korean government will
pump an additional $3 billion into Korea Investment Corporation
(KIC) to enable the sovereign wealth fund to resume overseas
investment, a newspaper reported on Friday.
The Maeil Business Newspaper cited a senior KIC official as
saying that the fund was considering alternative investments
which would be made jointly with private equity firms and
financial services companies.
"(KIC) is studying a variety of investment options, including
leveraged buyouts, distressed assets purchases and venture
capital," the unnamed official was quoted as saying.
KIC manages $25 billion in assets, including part of the
country's foreign currency reserves and assets of the finance
The fund invested $2 billion in Merrill Lynch early last year
before the U.S. bank was bought by Bank of America Corp, which
has reportedly translated into heavy losses and led it to shy
away from foreign assets.
(Reporting by Kim Yeon-hee; Editing by Jonathan Hopfner)