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Korea Teachers Pension names CIO

David Park has been chosen to replace Min Ho Park amid a growing emphasis on infrastructure investment at the institution.

South Korea's Korea Teachers Pension Fund has brought on board David Park to serve as its CIO.

Prior to joining KTP, Park worked as the CIO of Allianz Life Insurance in Korea from 2006 to mid-2016. He previously was an investment specialist at Samsung Investment Trust Management, HDC Asset Management and the Korea Federation of Community Credit Cooperatives, according to a report by Asia Asset Management. 

Park started in the role at the beginning of January after his predecessor, Min Ho Park, stepped down at the end of last year. He is expected to be in the job for the next two years.   

KTP confirmed the appointment but declined to comment further.

The $12 billion pension fund has lately been increasing its exposure to international assets in general and alternatives in particular, with its allocation to the latter rising from around 16 percent of its portfolio in 2015 to more than 20 percent in 2016.   

The pension was one of six Korean institutions that committed a combined $700 million to Brookfield’s latest flagship vehicle, the $14 billion Brookfield Infrastructure Fund III, according to local reports. An investor survey carried out by the Korea Economic Daily last October showed that KTP was interested in expanding its infrastructure footprint in the coming year.