The sovereign wealth fund Korea Investment Corporation (KIC) hosted an event in New York, U.S., to forecast the American stock market following the announcement of reciprocal tariffs by the Trump administration.
On the 28th, KIC held the "20th New York Financial Forum" the previous day under the auspices of its New York branch. About 30 investment officials attended the event, including the Consul General of the Republic of Korea in New York and government officials, as well as representatives from public investment institutions, securities companies, banks, and insurance firms.
The chief U.S. equity strategist at BCA Research, Irene Tanquel, who made the announcement that day, noted, "Volatility during the Trump administration is a characteristic, not an anomaly," adding, "Despite the recent attractiveness of investing due to the stock market decline following the announcement of reciprocal tariffs, the negative impact on corporate performance and fundamentals resulting from tariff increases has yet to materialize."
He continued, "As tariffs become a reality, corporate performance may deteriorate and stock price multiples may decrease," and suggested, "From this perspective, increasing the proportion of defensive stocks may be an effective strategy." He cited utilities and pharmaceuticals as representative defensive stocks.
Lee Kyung-taek, head of the KIC New York branch, said, "It was a meaningful opportunity to diagnose the U.S. stock market, which has shown significant volatility since the announcement of the U.S. reciprocal tariff, and to discuss future investment strategies," adding, "We will continue to provide opportunities to enhance the financial competitiveness of South Korean institutional investors."
KIC has overseas branches and offices in New York, San Francisco, London, Singapore, and Mumbai, India. These branches and offices are establishing cooperative systems that share information with domestic public and private financial institutions that have entered local markets.