South Korea's Teachers' Pension Taps Baek Joo-hyun as CIO for $21.9 Billion Fund

South Korea's Teachers' Pension (TP) has selected Baek Joo-hyun as its new chief investment officer, effective from personnel committee approval on July 8, 2026. Baek, whose appointment follows a competitive open recruitment process launched in May, will oversee the fund's 33 trillion won ($21.9 billion) asset base. The search attracted 26 applicants; after document screening and interviews, four finalists competed for the role, with Baek earning the highest score among candidates.

Baek brings substantial institutional investment experience spanning three decades, with particular expertise in alternative assets. He spent two decades building alternative investment capabilities at Samsung Life Insurance before transitioning to the public pension sector. Most recently, he served as head of the investment division at the Government Employees Pension Service (GEPS), a position he assumed in July 2022. In that role, he oversaw portfolio management responsibilities encompassing 8 trillion to 12 trillion won in assets, demonstrating his capacity to manage substantial institutional capital across complex investment mandates.

The appointment fills a vacancy created by former CIO Jeon Beom-sik, who departed to assume leadership of fund management operations at the National Federation of Fisheries Cooperatives (Suhyup). Industry sources indicate the Teachers' Pension will formalize Baek's appointment following completion of remaining administrative procedures. His incoming mandate includes two primary strategic objectives: expanding the fund's overseas investment infrastructure and strengthening internal risk management systems. These priorities underscore the fund's focus on geographic diversification and operational resilience as it navigates volatile global markets and positions itself for sustainable long-term performance.