Korea Investment Corporation (KIC) is South Korea's sole sovereign wealth fund established by the government of Korea in 2005. Its mission is to preserve and enhance the long-term purchasing power of South Korea's sovereign wealth (foreign reserves) through efficiently investing and managing the funds in international markets. KIC manages assets entrusted by the South Korean Government, the Bank of Korea, and other public funds as defined under the National Finance Act. KIC directly invests the entrusted assets or re-entrusts the assets to external fund and asset managers. As of Dec 2021, KIC's total assets under management stood at US$200 billion.