Korea Post has appointed Mirae Asset Global Investments to manage a newly launched overseas hedge fund mandate, targeting an initial investment of KRW500bn ($368m), according to a report by Asia Asset Management.

The selection comes just five weeks after Korea Post issued the tender on 28 April. The appointment was formally announced on the government postal agency’s website on 2 June.

The mandate further underscores Korea Post’s growing appetite for alternative strategies and overseas diversification. With approximately KRW150tn (around $110bn) in assets under management, the postal fund has been among South Korea’s most active institutional allocators in outsourcing mandates.

This latest award marks Korea Post’s sixth investment tender of 2025, highlighting its continued push into global markets and its strategic use of external managers to navigate a complex macroeconomic environment.

Mirae Asset, one of Korea’s largest asset managers, will oversee the hedge fund allocation, although specific strategy or fund targets were not disclosed.