The Korea Teachers’ Pension said on Monday it will extend the term of Chief Investment Officer Jun Beomsik by one year following his two-year term, citing solid returns amid global market volatility.
Since assuming the CIO role in November 2023, Jun has been credited with diversifying the pension scheme’s portfolio through expanded alternative investments and strategic asset allocation.
In 2024, it posted a 11.63% return on investments following a 13.46% gain the year prior. Its alternative assets yielded a 14.24% return, up from 6.43% in 2023.
Jun started his financial career with the pension fund in 1991 where he covered a wide range of fields from fixed-income management to investment analysis and alternative investing, until moving to KB Securities Co., formerly Hyundai Securities, in 2012.
Jun had also led principal investment and alternative investment divisions at SK Securities Co. as a vice president.
“This extension is aimed at ensuring stability and continuity in fund management,” said Song Ha-joong, chief executive officer of the Korea Teachers’ Pension.
“We expect CIO Jun to continue delivering efficient and stable performance, drawing on his deep understanding of the fund and extensive market experience.”
Since rejoining the Teachers’ Pension in November 2023, Jun has earned recognition for bolstering the team’s investment capabilities and promoting a collaborative management culture.
At the global investment conference ASK 2024 in October last year, Jun said the fund will diversify the portfolio across buyout, venture capital and secondaries for private equity in 2025.
The retirement fund for private school teachers and employees in South Korea manages 28.75 trillion won ($20 billion) as of the end of 2024.
Under the fund’s policy, the CIO’s term may be renewed annually based on performance following a two-year initial contract.
By Gyeong-Jin Min
min@hankyung.com
Yeonhee Kim edited this article.
