Korean Teachers Union to Have Record Alternative Assets Abroad

Korean Teachers’ Credit Union, with about $19 billion in assets, will boost real estate and other alternative investments abroad to a record this year to benefit from a U.S. economic recovery and lower prices in Europe.

The credit union, also known as KTCU, is in talks to invest in Worldwide Plaza in New York as part of a group that includes other Korean investors, Chief Executive Officer Kim Junggi said on March 21. KTCU plans to provide about 100 billion won ($90 million) to the deal of the U.S. property that may be valued at more than $1 billion, he said, adding that talks will probably be completed by the end of April.