SEOUL, July 15 (Xinhua) -- South Korea injected 3 billion U.S. dollar more in its sovereign wealth fund amid its new plan to expand targets on profit seeking, the chief of the fund said Wednesday.
According to Chin Young-wook, chief of Korea Investment Corp. (KIC), his company now holds 27.8 billion U.S. dollars under its management, awaiting an additional investment of 2 billion U.S. dollars in the second half of 2009.
KIC also plans to diversify its investment portfolio, marching into the overseas property markets, as well as investing in hedge funds and commodities, Chin said.
One billion U.S. dollars out of the government's recent investment will be put into the fund's seeking for alternative investment, Chin added.
The KIC, also managing part of the nation's foreign exchange reserves, reached mutual investment deals with overseas funds, including those of Kuwait, Australia, and Malaysia.