KIC meaning in Business ?

Korea Investment Corporation (KIC) (Korean: 한국투자공사; Hanja: 韓國投資公社; RR: Hanguktujagongsa) is a sovereign wealth fund established by the government of South Korea in 2005. Its mission is to preserve and enhance the long-term purchasing power of South Korea's sovereign wealth(foreign reserves) through efficient management of public funds in the international financial markets. KIC manages assets entrusted by the 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 managers. KIC's Total assets under management stood at US$131.6 billion at the end of the fourth quarter of 2018.KIC is frequently imitated by many bogus companies in the hope of receiving "investment" from overseas clients. Of course these funds are not used for the purposes stated and the clients money is lost. Prospective customers should ensure that the company they are dealing with is in fact who they say they are.