Rep. Kim Song-sik of the minor opposition People’s Party said, the KIC recorded a profit rate of minus 3 percent, coming in last among comparable state-operated investment funds.
The data obtained by Kim showed that the KIC’s profit rate came to 4.02 percent in 2014, making it the least profitable among compared organizations for two consecutive years.
State-operated funds compared by Kim include those in Canada, China, Ireland, Norway and the US.
Kim also revealed that the KIC has been slow to diversify its portfolio.
At the end of August, the stocks and bonds respectively accounted for 40 percent and 34 percent of the KIC’s portfolio. In comparison, investment vehicles categorized as alternative and miscellaneous accounted for 13 percent and 11 percent, respectively.
By Choi He-suk (email@example.com)