Korea Teachers' Credit Union

KTCU — official KRW 85.9 trillion total assets end-2025. Jeong Kapyoon Chairman; Ko Jae-taek CIO. Special-Act MoE mutual-aid. ≠ Teachers' Pension/NPS.

UAO Editorial September 11, 2026 45 min read

UAO Registry · Top 100 · Instantiations rank 99 · elite profile 95th live · Mutual-aid / statutory teacher welfare · South Korea · Last researched Friday 11 September 2026 (America/Toronto). Corrections: info@universalassetowners.com.

Executive brief

The Korea Teachers’ Credit Union (KTCU; Korean 한국교직원공제회; brand The-K) is South Korea’s special-Act mutual-aid and lifelong welfare institution for the education family—public educational officials, teachers, and administrative staff of educational institutions and research institutes. It was founded in 1971 under the Korean Teachers’ Credit Union Act and is supervised by the Ministry of Education. Soft strings for researchers: KTCU / Korea Teachers’ Credit Union / 한국교직원공제회 / The-K / korea-teachers-credit-union.

Official English Asset Management Overview (english.ktcu.or.kr) states that operations began in 1971 with assets of KRW 1.3 billion and that assets had grown to KRW 85.9 trillion as of the end of 2025. The paired Major Business Performance table discloses end-2025 total assets of 858,938 in KRW 100 million units (consistent with KRW 85.9 trillion), of which investment assets were 732,894 (85.3%), member loans 107,894 (12.6%), and other assets 18,150 (2.1%). UAO quotes official KRW only—no invented USD headline.

Live leadership verified on official Korean 임원 공시 and the English Sustainability Report: Chairman Jeong Kapyoon (정갑윤; term 18 Dec 2023–17 Dec 2026; English SR romanisation Jeong Kapyoon); Chief Investment Officer / Fund Management Director Ko Jae-taek (고재택; 기금운용이사; term 1 Feb 2025–31 Jan 2028). No UAO person SSR pages yet for either seat—names are plain text. A prior CIO listing for Park Man-soo remains on older secondary/UAO person inventory and is not treated as current.

Why researchers care: KTCU is among Korea’s largest mutual-aid asset owners—second only to National Pension Service (NPS) on some secondary size comparisons when mutual-aid and pension pools are viewed together—with a heavy alternative-investment sleeve, explicit multi-committee investment governance, published RI milestones (coal-exit 2019; TCFD/climate-finance 2021), and a thick English disclosure stack plus a biennial Sustainability Report. Related Registry hubs: Korea Investment Corporation (KIC), GPIF, KKR Japan (federation of mutual-aid associations), OPTrust, FRR.

Speakable summary

KTCU is Korea’s statutory teachers’ mutual-aid union. Official English pages disclose KRW 85.9 trillion in total assets at end-2025. Chairman Jeong Kapyoon; CIO Ko Jae-taek. It is not Korea Teachers’ Pension and not NPS. Currency discipline: KRW from ktcu.or.kr / english.ktcu.or.kr.

Mandate & ownership

Korean management disclosure (기관소개) describes KTCU as a government-guaranteed teacher welfare institution established by special law so that educators can enjoy the rewards of teaching and a prosperous life both in service and after retirement. Establishment basis: Korean Teachers’ Credit Union Act (Act No. 2296, promulgated 22 January 1971). Corporate name changed from 대한교원공제회 to 한국교직원공제회 under Act No. 7070 (promulgated 20 January 2004). Supervising ministry: Ministry of Education.

English Mission·Vision pages state the mission as contributing to a happy life of the education family through reliable financial and welfare services, and the vision as “A happy partnership with the Education Family, the best financial and welfare partner.” Purpose-of-establishment language on the same page tracks the Act: enhance stabilisation of lives and welfare through an efficient mutual-aid system for persons who serve or served as public educational officials, teachers, or administrative staff of educational institutions, educational administrative institutions, or educational research institutes and affiliated institutions.

Medium- and long-term management objective (English): building members’ trust through stable earning and sustainable growth. Core values: Trust, Innovation, Professionalism. Implementation themes include lifelong financial and welfare services and forward-looking asset management (strategic portfolio management; risk management advancement; new growth engines).

What the mandate is not: KTCU is not a sovereign wealth fund, not a central-bank reserve manager, and not the statutory teachers’ pension corporation. Member resources include premiums and asset-management profits allocated to financial investments, alternatives, and member loans (English Asset Management Overview).

Ownership & political chain

  • Legal form: statutory mutual-aid association under the Korean Teachers’ Credit Union Act.
  • Supervising ministry: Ministry of Education (교육부) — annual asset-management plan/budget approval path includes Steering Committee / Board of Representatives / MoE (English decision-flow page).
  • Top legislative body: Board of Representatives; Steering Committee supports policy (English Organization).
  • Executive Management (English): Chairman, Chief Audit Officer, Chief Customer Officer, Chief Operating Officer, Chief Investment Officer; executive term three years.
  • Headquarters: 50 Yeouinaru-ro, Yeongdeungpo-gu, Seoul 07328 (omit phones from public elite profile).

Disambiguation (≠ Korea Teachers’ Pension / NPS)

≠ Korea Teachers’ Pension (교직원연금공단). Press sometimes confuses the mutual-aid credit union with the teachers’ pension scheme. KTCU’s own English branding and Act language centre on mutual aid, savings, loans, insurance, and welfare—not the Teachers’ Pension Corporation’s pension mandate. Secondary KED items about Teachers’ Pension returns (e.g. CIO Jun Beomsik) are not KTCU facts.

≠ National Pension Service (NPS). NPS is Korea’s national public pension investor. KTCU is a membership mutual-aid balance sheet for the education family. Secondary articles may rank KTCU’s AUM just behind NPS among Korean pools; that comparison is scale context only.

≠ Korea Investment Corporation (KIC). KIC is the sovereign wealth / foreign-reserve investment corporation. KTCU’s MoE mutual-aid mandate and member-loan sleeve are structurally different.

Scale & portfolio

Primary scale anchors (official English Major Business Performance, units = KRW 100 million unless noted):

YearTotal assetsInvestment assetsMember loansOther
2022569,289439,580 (77.2%)112,655 (19.8%)17,054 (3.0%)
2023641,585508,663 (79.3%)116,921 (18.2%)16,001 (2.5%)
2024745,909617,583 (82.8%)112,066 (15.0%)16,260 (2.2%)
2025858,938732,894 (85.3%)107,894 (12.6%)18,150 (2.1%)

End-2025 investment-asset breakdown (same official table): stocks 129,567 (15.1% of total assets); bonds 120,092 (14.0%); alternative investment 454,724 (52.9%); short-term funds 28,511 (3.3%). Alternatives remain the dominant sleeve by share of total assets.

Sustainability Report 2023–2024 (November 2025) overview card (as of Dec 2024): total assets KRW 74,590.9 billion (~KRW 74 trillion narrative); sales KRW 4,638.4 billion; net income KRW 721.6 billion; Chairman Jeong Kapyoon; employees 570; membership on the order of 920,000. English Chairman’s Message page also cites over 940,000 members and “85 trillion won” assets in overview prose aligned with the end-2025 KRW 85.9 trillion AM figure.

Organisation scale (English Organization / Board pages): headquarters on the order of 19–20 departments and ~46–48 teams; 4 regional headquarters and 14 city/provincial branches (figures vary slightly by page date—Board page cites 19 departments / 46 teams; Organization page cites 20 departments / 48 teams after restructuring notes on the History page).

Governance & leadership

Executive seats (official 임원 공시 + EN SR)

SeatNameTerm (official KR disclosure)Notes
Chairman / 이사장 (기관장)Jeong Kapyoon2023.12.18 – 2026.12.17EN History: 23rd Chairman; SR signed Jeong Kapyoon (Nov 2025)
Auditor / 감사Lee Chun-ho (이춘호)2024.10.01 – 2027.09.30Standing auditor
Member Business Director / 회원사업이사Oh Poong-yeon (오풍연)2023.07.10 – 2026.07.09*KR note: continues under articles until successor
Management Support Director / 경영지원이사Park Seok-bae (박석배)2025.02.01 – 2028.01.31Internal career path listed on 임원 page
Fund Management Director / CIO (기금운용이사)Ko Jae-taek2025.02.01 – 2028.01.31EN Executive Management lists CIO seat

Appointment path (KR 임원 공시): Chairman — nomination committee → Steering Committee election → Minister of Education approval. Directors — Steering Committee consent → Minister of Education approval → Chairman appointment. Basis cited: Articles of Association Art. 18 and nomination-committee rules.

Decision bodies

English Organization: KTCU pursues efficient management and member-profit maximisation through the Steering Committee and the Board of Representatives. Board of Directors page: transparent governance; Executive Committee leads headquarters; committees deliberate major management and ESG agendas; decisions and follow-ups disclosed to members and the public.

Asset-management external committees (English): Asset Management Committee (strategic asset allocation, mid/long-term AM plans, target return and retirement-benefit rates, operating-expense rates, AM policy paper; ≤7 inside members including senior managing directors related to AM; 5–7 outside experts; outside members must exceed 50% of total). Risk Management Committee (risk policies, systems/standards, risk limits, FX management matters as published).

Investment philosophy & process

Purpose of asset management (English AM Overview): promote security and enhance welfare benefits for members. Principles: profitability, stability, diversified investment, and liquidity. Primary financial resources: member premiums and asset-management profits. Allocations: domestic/foreign stocks and bonds; alternatives (domestic/foreign SOC, real estate, energy, PEF); member loans.

Target rate of return (English AM Related Standards): mid- and long-term asset returns intended to cover interest rates, operating expenses, and reserve targets. Risk tolerance: total annual risk-tolerance limit framed via estimated loss under the annual asset-allocation plan relative to annual transferred reserves; shortfall risk for the next five years ≤10% under the published rule (share of reserved-fund-rate reductions of 5%+ vs base year must be ≤10%).

Published mid/long-term allocation status: 77% fund-management assets, 18% member loans, 5% other assets. Financial-portfolio weights “by 2030” (vs fund-management assets): domestic stocks 7.6%; foreign stocks 11.8%; domestic bonds 10.4%; foreign bonds 8.6%; domestic corporate finance 8.6%; foreign corporate finance 13.4%; domestic real estate & SOC 13.1%; foreign real estate & SOC 26.5%.

Annual planning calendar (English decision-flow)

  • Jan–Apr: Asset Management Committee deliberates mid/long-term AM plan and policy paper.
  • May–Jul: Risk Management Committee inspects/adjusts risk limits.
  • Aug–Dec: Asset Management Committee deliberates annual AM plan; Board of Directors resolves annual AM plan and budget; Steering Committee / Board of Representatives / Ministry of Education approve.
  • Dec–Jan: Risk Management Committee deliberates risk-limit policies.
  • Quarterly: Investment Strategy Council — tactical asset adjustment.
  • Year-round: Investment Management Council — stocks, bonds, alternatives, strategic investments.

New alternative-investment process

English flow: proposal reception → AM department investment review → Investment Risk Analysis Team first risk evaluation → Investment Deliberation Affairs Council (referral to Investment Deliberation Committee if department staff evaluations meet published score thresholds: grand mean ≥3.0/5 and item means ≥2.0) → Investment Deliberation Committee (attendance ≥2/3 of participating members; majority of those attending) → Board of Directors (majority of enrolled members present; majority of those attending). Secondary Asia Business Daily (Aug 2026) describes the same three-step culture and notes internal CIO succession; treat deal-level Calpine/ECP figures in that article as secondary unless restated on ktcu.or.kr.

Climate / ESG / ethics

Korean Investment / 책임투자 milestones page: 2017 ESG-related revisions inside the asset-management policy statement; 2019 coal-exit finance declaration; 2019 Korea Social Value Solidarity Fund business agreement; 2021 TCFD and climate-finance support declaration toward 2050 carbon neutrality.

English Sustainability Management Strategy (2025 objectives): strategic goal of trusted finance and welfare creating positive change across environment, society, and governance; pillars of environmental management, responsible management, and ethical management, with UN SDG mapping on-page.

Sustainability Report 2023–2024: ESG investment scale KRW 1,983.8 billion at end-2024 (from KRW 1,643.4 billion in 2023); component narrative includes stocks, bonds, alternatives, and corporate finance sleeves; examples in SR highlights include MBS/social-bond purchases and renewable-energy platform exposures (Atlantica KRW 98.8 billion cited in SR eco-investment notes). CHARM ethical-management brand (Clean, Honest, Active, Reliable, Modest) described on English Ethical Management page; Ethical Management Committee chaired by the COO.

Environmental Management English page and SR cover eco-friendly management system work, climate-response frameworks, and related awards (e.g. History page notes Financial Services Commissioner’s Award in ESG Finance at the 18th National Sustainability ESG Conference, 10 May 2024).

Performance & reporting

Official English P&L status (KRW 100 million units; rates as published on Major Business Performance):

YearTotal P&LTotal rateInvestment P&LInvestment rateMember-loan P&L
202215,6832.9%10,6662.4%3,835
202344,3567.3%38,0458.1%5,608
202465,4769.4%58,72510.7%5,544
202578,0769.7%70,24910.6%5,085

2025 equity sleeve on the same table: 40,477 (38.0% rate) after 2022’s deep equity drawdown (△18,963 / △22.9%). Alternatives 2025: 23,828 (5.6%). Bonds 2025: 5,053 (5.0%).

SR financial highlights for 2024: net income KRW 721.6 billion (192.4% of a stated internal target in SR narrative); ROA series in appendix tables includes 0.8% (2022), 1.5% (2023), 1.0% (2024) as published. Transparency stack: English AM pages; Korean 경영공시 (balance sheet, income statement, investment execution, tax, asset-management status); biennial Sustainability Report (GRI 2021 / UN SDGs); KAMS information-exchange portal for external managers.

Mutual-aid & member services

English Mutual Aid System pages document Long-term Savings Benefit (high interest & low taxation; enrolment from 50 units / KRW 30,000 to 2,500 units / KRW 1,500,000), post-retirement instalment options (5–30 year payout schedules), Lump Sum Benefit, Retirement Saving Benefit, and Corporate Deposit Benefit—positioned as member-balance products funding the broader asset pool rather than third-party mutual-fund wraps (no management/business/service fees vs trusts/insurance/funds, per product copy).

Loan pages describe general and mortgage-style member lending within savings/guarantee limits (product pages cite guarantee-insurance limits up to KRW 100 million depending on membership duration and credit). Insurance and The-K happiness / welfare / partnership-service pages extend the lifelong-welfare mandate (legal/tax/labour consultation discounts; facility partnerships).

These member products are mandate-core for a credit-union/mutual-aid profile: they explain both the liability-like savings book and the member-loan asset sleeve that still represented 12.6% of total assets at end-2025 even as investment assets rose to 85.3%.

Controversies & debates

Official-attributable first. Opened English/Korean primaries emphasise integrity awards, CCM (Consumer Centered Management) hall-of-fame induction (History 2025.12.12), internal-audit recognitions, and ISMS acquisition (2024.09.19)—not enforcement actions. No opened primary on this pass alleges a regulator fine; SR fine-amount lines show KRW 0 for the published years reviewed.

Secondary press (label clearly): Asia Business Daily’s August 2026 “Inside Pensions and Mutual Aid” feature discusses KTCU’s Calpine/ECP continuation-fund exit economics and the three-tier alternative-investment review culture. Those deal IRRs and recovered amounts are secondary unless and until restated on ktcu.or.kr / english.ktcu.or.kr. UAO does not invent controversy narratives around individual GP exits.

Name collision risk: researchers mixing KTCU with Korea Teachers’ Pension return headlines—keep mandates separate (see Disambiguation).

Timeline (official milestones)

  • 1971.01.22 — Korean Teachers’ Credit Union Act promulgated (Act No. 2296).
  • 1971.03 — Founding (then 대한교원공제회); 1971.06 Long-term Savings Benefit launched.
  • 1983–1987 — Lump-sum and retirement living benefit systems expanded (KR disclosure history).
  • 1994 — The-K Savings Bank predecessor acquisition (새한상호신용금고).
  • 2004.01 — Legal name change to 한국교직원공제회 (Act No. 7070).
  • 2009 — Ethical management proclamation (EN Ethical Management).
  • 2017 — ESG provisions revised in asset-management policy (KR RI milestones).
  • 2019 — Coal-exit finance declaration; social-value fund MoU.
  • 2021 — TCFD / climate-finance support declaration (2050 carbon neutrality).
  • 2023.12.18 — Jeong Kapyoon inaugurated as 23rd Chairman (EN History).
  • 2024.07.01 — Organisation restructure including new Risk Management Division (EN History).
  • 2025.02.01 — Ko Jae-taek appointed Fund Management Director / CIO (KR 임원).
  • 2025.11 — Ninth Sustainability Report (2023–2024) published EN/KR.
  • End-2025 — Official EN AM Overview: KRW 85.9 trillion total assets.

Annex: AUM & currency honesty (KRW)

Registry discipline for KTCU: prefer dated official KRW from english.ktcu.or.kr Major Business Performance / Asset Management Overview and from the Sustainability Report. End-2025 headline KRW 85.9 trillion; end-2024 SR headline ~KRW 74 trillion / 74,590.9 billion. Do not promote KED Global’s USD $56.6 bn (or any FX-converted USD) as an official KTCU figure. Secondary Asiae Q1 2026 KRW 89.2756 trillion may be cited only as secondary.

Began 1971 at KRW 1.3 billion (EN AM Overview). Growth path on performance tables: 569,289 → 641,585 → 745,909 → 858,938 (KRW 100 million units, 2022–2025). Investment-asset share rose from 77.2% (2022) to 85.3% (2025) as member-loan share declined from 19.8% to 12.6%.

-2024 The Korean Teachers’ Credit Union Sustainability Report 04 Chairman’s Message Based on continuous communication with our stakeholders, we will remain steadfast in pursuing our mid to long-term management goal of “building member trust through stable returns and sustainable growth.” Dear Esteemed Stakeholders, As a reliable lifelong partner of Korea’s education family, the Korean Teachers’ Credit Union (KTCU) has continuously strived to fulfill its social responsibilities and achieve inclusive growth.

I would like to express my sincere gratitude to all stakeholders who have accompanied us on this journey. The years 2023–2024 presented new challenges for the global economy. Fiscal pres- sures, tightening monetary policies, sharp fluctuations in international commodity prices, and rising geopolitical tensions have made uncertainty a constant feature of the economic landscape.

Amid these challenges, KTCU viewed this environment not as a crisis but as an opportunity to strengthen its management foundation. By refining our asset allocation strategies and enhancing our risk management frame- work to respond flexibly to changing market conditions, KTCU achieved meaningful progress, surpassing 920,000 members, reaching KRW 74 trillion in total assets, and recording over KRW 700 billion in net income.

We will continue to pursue sustainable growth and fulfill our responsibilities as a trusted credit union, even in the face of on- going uncertainty. -2024 The Korean Teachers’ Credit Union Sustainability Report 05 Looking ahead, we will further advance our asset management Furthermore, we are committed to strengthening an system to ensure sound and sustainable growth. ethical and transparent corporate culture.

KTCU is enhancing its investment capabilities across various asset classes and ex- KTCU continues to advance its ethical management and internal control systems to panding its alternative investment departments to establish a balanced foundation ensure integrity and fairness in all operations.

Through initiatives such as the ESG for long-term stability and profitability. As the share of overseas investments con- mileage system, anti-corruption warning system, and integrity evaluation, we are tinues to grow, we are accelerating preparations to open our first overseas office enhancing ethical awareness among employees, and we have publicly reaffirmed by 2026, which will serve as a global investment hub.

Annex: Asset mix 2022–2025

Full official investment-sleeve detail (KRW 100 million; rates = share of total assets):

Sleeve2022202320242025
Stocks59,646 (10.5%)78,817 (12.3%)101,700 (13.7%)129,567 (15.1%)
Bonds57,060 (10.0%)65,215 (10.2%)80,786 (10.8%)120,092 (14.0%)
Alternatives316,054 (55.5%)347,466 (54.2%)409,734 (54.9%)454,724 (52.9%)
Short-term6,828 (1.2%)17,165 (2.7%)25,363 (3.4%)28,511 (3.3%)

Reading: alternatives stay majority-of-balance-sheet even while listed equity and bond books grew quickly in 2024–2025. Member loans remain a structural, not residual, sleeve.

Annex: P&L by sleeve

Sleeve P&L (KRW 100m)2022202320242025
Stocks△18,963 (△22.9%)14,762 (22.3%)13,364 (15.5%)40,477 (38.0%)
Bonds△1,801 (△2.9%)3,841 (6.5%)3,742 (5.2%)5,053 (5.0%)
Alternatives31,226 (11.1%)18,686 (5.8%)40,718 (11.2%)23,828 (5.6%)
Short-term204 (2.4%)756 (3.4%)901 (3.5%)891 (2.7%)
Other assets1,182 (7.6%)703 (4.1%)1,207 (7.5%)2,742 (15.9%)

2022 shows the equity/bond stress year; 2025 shows equity-led recovery while alternatives still contributed nearly KRW 2.4 trillion of P&L (23,828 × KRW 100 million).

Annex: Mid/long-term SAA & risk limits

English Asset Management Related Standards page is the primary SAA source for this profile. Mid/long-term plan deliberation runs through the Asset Management Committee; tactical flexibility through the Asset Allocation / Investment Strategy councils. Shortfall-risk constraint (next five years ≤10% under the published reserved-fund-rate rule) anchors risk budgeting alongside market and credit risk limits enumerated on the same page.

Foreign real estate & SOC at 26.5% of the 2030 financial-portfolio weight schedule is the single largest published target sleeve—consistent with the end-2025 alternatives-heavy realised mix.

Annex: AM committees & alternative-investment process

Internal committees (English In Committee page): Investment Strategy Council (tactical AA in financial and alternative books; annual/semiannual/quarterly plans); Investment Management Council (stock/bond/alternative/strategy management); Investment Deliberation Affairs Council (gate to Investment Deliberation Committee for new alternatives); Fair Valuation Evaluation Committee (fair-value verification for alternative assets).

Contents Overview ESG Performance Chairman’s Message 04 Environmental Introduction of The Korean Teachers’ Credit Union 06 Environmental Management 52 Business Overview 09 Social Realizing Value Through Customer Trust 62 A Great Place to Work 71 Our Approach to ESG Social Contribution and Shared Growth 83 Mid- to Long-term Management Strategy 16 Governance Sustainable Management System 17 Governance 90 2023-2024 The-K ESG Highlights 18 Information Security 93 Interactive User The-K ESG Journey 20 Risk Management 96 Guide Double Materiality Assessment 21 Stakeholder Engagement 24 This Report is published as an Investment interactive PDF, offering features Stakeholder Communication 26 Responsible Investment Finance 100 such as shortcuts to relevant pages within the report.

Material Topic Appendix Home Contents Focus 1. Asset Management Transformation Performance Summary 103 28 Beyond Returns to Sustainability Previous page GRI Content Index 114 Focus 2. For the Evolution of Services 34 UN SDGs 116 Next page Member-Centric Service Innovation Focus 3.

Expanding an Ethical Management Culture Independent Third-Party Assurance Statement 117 40 Responsibility in Action Awards & Membership Associations 119 -2024 The Korean Teachers’ Credit Union Sustainability Report 05 Looking ahead, we will further advance our asset management Furthermore, we are committed to strengthening an system to ensure sound and sustainable growth. ethical and transparent corporate culture.

KTCU is enhancing its investment capabilities across various asset classes and ex- KTCU continues to advance its ethical management and internal control systems to panding its alternative investment departments to establish a balanced foundation ensure integrity and fairness in all operations.

Through initiatives such as the ESG for long-term stability and profitability. As the share of overseas investments con- mileage system, anti-corruption warning system, and integrity evaluation, we are tinues to grow, we are accelerating preparations to open our first overseas office enhancing ethical awareness among employees, and we have publicly reaffirmed by 2026, which will serve as a global investment hub.

Through the establishment our commitment to robust internal controls through the Joint Declaration Ceremo- of overseas bases for managing existing assets, identifying new investment oppor- ny for Strengthening the Internal Control System. We will continue to strengthen our tunities, and nurturing global investment professionals, we will continue to build a internal control system to earn and maintain the trust of all stakeholders. stronger financial foundation for our members’ future.

Now in its ninth edition, this sustainability report transparently presents KTCU’s ongoing sustainability initiatives and achievements. Based on continuous com- KTCU is also dedicated to expanding membership welfare services. munication with our stakeholders, we will remain steadfast in pursuing our mid- to long-term management goal of “building member trust through stable returns and As a lifelong welfare institution for educators, we strive to support members in lead- sustainable growth.” ing comfortable and stable lives by providing comprehensive services across culture, healthcare, and leisure.

We have broadened our cultural programs and introduced I kindly ask for your continued interest and support as KTCU moves forward on its the Mind Peace Services to provide customized benefits that meet members’ needs. journey to create greater shared value together with all stakeholders.

Moving forward, we will improve accessibility to welfare facilities for members across the nation and expand cultural and sports programs to increase participation Thank you. opportunities. We will continue our efforts to ensure that all members can experi- ence tangible and meaningful benefits in their daily lives.

November 2025 Chairman of The Korean Teachers’ Credit Union Jeong Kapyoon -2024 The Korean Teachers’ Credit Union Sustainability Report 06 Introduction of The Korean Teachers’ Credit Union The Korean Teachers’ Credit Union (“KTCU”) is a welfare institution established in 1971 under a special act (Act No.

Annex: RI milestones & ESG investment scale

  • 2017 — ESG-related regulations revised in asset-management policy statement (KR).
  • 2019 — Coal-exit finance declaration (KR).
  • 2019 — Korea Social Value Solidarity Fund MoU (KR).
  • 2021 — TCFD · climate-finance support declaration for 2050 carbon neutrality (KR).
  • End-2023 ESG investment scale — KRW 1,643.4 billion (SR).
  • End-2024 ESG investment scale — KRW 1,983.8 billion (SR).

-2024 The Korean Teachers’ Credit Union Sustainability Report 11 Business Overview Insurance Insurance products Total Insurance KTCU’s flagship insurance product tailored for the education family, offering three plans— designed to protect members ▶ T (Teacher-specialized), H (Health-enhancing), E (Essential coverage)—and up to 50 optional riders against accidents and THE Total Insurance THE Total Insurance (SI) illness Disease and Accident Insurance ▶ Provides coverage for various diseases and accidents through three plans—D (Disease), A (Accident), and DA (Disease & Accident)—with up to 50 optional riders.

DA Life Insurance DA Life Insurance (SI) Cancer, Brain, Heart, and Dementia Insurance ▶ Comprehensive coverage for the four major critical illnesses: cancer, cardiovascular, cerebrovascular diseases, and dementia Four Diseases Insurance Four Diseases Insurance (SI) Child Insurance ▶ Designed to protect children from birth to age 100 against accidents and illnesses Child’s Dream Total Insurance Child’s Dream Total Insurance (Mom Dream) -2024 The Korean Teachers’ Credit Union Sustainability Report 12 Business Overview Welfare Various welfare benefits The-K Happiness Service A cultural welfare brand offering premium year-round events in culture, arts, and sports for teachers’ fulfilling and ▶ Performance/Exhibition Cultural Lounge, The-K Special Concert happy lives Books/Leisure Book & JOY, Cine & JOY, Hobby & JOY, Sports & JOY, The-K Silver Companionship Regional Events Happy Trip, Culture & JOY Welfare Benefits ▶ Financial support provided to members during key life events, including congratulations for marriage or childbirth and condolences for illness or bereavement Membership and retirement memento Marriage and childbirth benefit Illness and bereavement benefit High-ranking and 20-year membership benefit Living Welfare Services ▶ Discounted or free access to everyday convenience facilities and counseling services for members Subsidiary hotels and exclusive Leisure, sports, and transportation Partner resorts and hotels condominiums facilities Wedding hall Medical institutions Funeral hall Psychological counseling Affiliated credit card Legal·tax counseling (The-K Mind Peace Services) Recreational facilities (The-K Rest and Stay) -2024 The Korean Teachers’ Credit Union Sustainability Report 13 Business Overview Subsidiaries The-K Hotel & Resort Co., Ltd.

The-K Savings Bank Co., Ltd. The-K Hotel & Resort operates a luxury hotel in Gyeongju and family hotels in Seoraksan and The-K Savings Bank provides services to support customers in secure asset management and Jirisan, supporting members’ comfortable leisure time.

The-K Hotel Gyeongju offers an op- financial planning. Through its mobile app (SB Talk Talk+) and internet banking, customers portunity to enjoy history and culture together, while The-K Seoraksan Family Hotel provides can conveniently perform various banking transactions, including opening and closing de- an ideal setting to enjoy the sunrise over Seoraksan and nearby coastal attractions.

The-K posits, from anywhere in the country. The-K Savings Bank is a trusted financial partner that Jirisan Family Hotel offers a serene environment for relaxing retreats throughout all four sea- customers can rely on with confidence. sons. Through The-K Hotel & Resort, members are offered differentiated vacation experienc- es tailored to a variety of lifestyles.

Address Address ▶ The-K Hotel Gyeongju ▶ The-K Seoraksan Family Hotel ▶ The-K Jirisan Family Hotel 323, Teheran-ro, Gangnam-gu, Seoul (45, Expo-ro, Gyeongju-si, (470-7, Seoraksan-ro, Sokcho-si, (317, Jirisanoncheon-ro, Sandong- Gyeongsangbuk-do) Gangwon-do) myeon, Gurye-gun, Jeollanam-do) -2024 The Korean Teachers’ Credit Union Sustainability Report 14 Business Overview Subsidiaries The-K Teachi World Co., Ltd.

The-K Sophia Green Co., Ltd. The-K Yedaham Co., Ltd. The-K Teachi World operates The-K Mall, Korea’s only wel- The-K Sophia Green is a 27-hole public golf course estab- The-K Yedaham provides funeral services founded on integ- fare portal exclusively for teachers, providing a wide range of lished to promote leisure and cultural activities for teachers. rity and transparent management, promoting a dignified services to support the financial stability and well-being of It provides a healing space where members can enjoy healthy funeral culture while offering peace of mind to members and teachers, including travel, culture, and healthcare.

In addi- recreation and socialize. The course features the Sejong, Yeo- society. Building on its financial stability, The-K Yedaham also tion, the company manages the S2B Electronic Procurement gang, and Hwanghak courses, each reflecting Korea’s beauti- carries out various philanthropic activities, including funeral System for Educational Institutions, designated and an- ful natural landscapes and historical significance. support for underprivileged groups, thereby fulfilling its cor- nounced by the Ministry of the Interior and Safety, contribut- porate social responsibility.

Annex: Sustainability Report 2023–2024 notes

Ninth sustainability report, published November 2025; reporting period 1 Jan 2023–31 Dec 2024 with selected H1 2025 achievements; quantitative indicators show three-year trends 2022–2024; prepared with GRI Standards 2021 and UN SDGs; scope includes KTCU and subsidiaries; financials under K-GAAP. English PDF distributed via english.ktcu.or.kr Sustainability Report download control.

Contents Overview ESG Performance Chairman’s Message 04 Environmental Introduction of The Korean Teachers’ Credit Union 06 Environmental Management 52 Business Overview 09 Social Realizing Value Through Customer Trust 62 A Great Place to Work 71 Our Approach to ESG Social Contribution and Shared Growth 83 Mid- to Long-term Management Strategy 16 Governance Sustainable Management System 17 Governance 90 2023-2024 The-K ESG Highlights 18 Information Security 93 Interactive User The-K ESG Journey 20 Risk Management 96 Guide Double Materiality Assessment 21 Stakeholder Engagement 24 This Report is published as an Investment interactive PDF, offering features Stakeholder Communication 26 Responsible Investment Finance 100 such as shortcuts to relevant pages within the report.

Material Topic Appendix Home Contents Focus 1. Asset Management Transformation Performance Summary 103 28 Beyond Returns to Sustainability Previous page GRI Content Index 114 Focus 2. For the Evolution of Services 34 UN SDGs 116 Next page Member-Centric Service Innovation Focus 3.

Expanding an Ethical Management Culture Independent Third-Party Assurance Statement 117 40 Responsibility in Action Awards & Membership Associations 119 -2024 The Korean Teachers’ Credit Union Sustainability Report 05 Looking ahead, we will further advance our asset management Furthermore, we are committed to strengthening an system to ensure sound and sustainable growth. ethical and transparent corporate culture.

KTCU is enhancing its investment capabilities across various asset classes and ex- KTCU continues to advance its ethical management and internal control systems to panding its alternative investment departments to establish a balanced foundation ensure integrity and fairness in all operations.

Through initiatives such as the ESG for long-term stability and profitability. As the share of overseas investments con- mileage system, anti-corruption warning system, and integrity evaluation, we are tinues to grow, we are accelerating preparations to open our first overseas office enhancing ethical awareness among employees, and we have publicly reaffirmed by 2026, which will serve as a global investment hub.

Through the establishment our commitment to robust internal controls through the Joint Declaration Ceremo- of overseas bases for managing existing assets, identifying new investment oppor- ny for Strengthening the Internal Control System. We will continue to strengthen our tunities, and nurturing global investment professionals, we will continue to build a internal control system to earn and maintain the trust of all stakeholders. stronger financial foundation for our members’ future.

Now in its ninth edition, this sustainability report transparently presents KTCU’s ongoing sustainability initiatives and achievements. Based on continuous com- KTCU is also dedicated to expanding membership welfare services. munication with our stakeholders, we will remain steadfast in pursuing our mid- to long-term management goal of “building member trust through stable returns and As a lifelong welfare institution for educators, we strive to support members in lead- sustainable growth.” ing comfortable and stable lives by providing comprehensive services across culture, healthcare, and leisure.

We have broadened our cultural programs and introduced I kindly ask for your continued interest and support as KTCU moves forward on its the Mind Peace Services to provide customized benefits that meet members’ needs. journey to create greater shared value together with all stakeholders.

Moving forward, we will improve accessibility to welfare facilities for members across the nation and expand cultural and sports programs to increase participation Thank you. opportunities. We will continue our efforts to ensure that all members can experi- ence tangible and meaningful benefits in their daily lives.

November 2025 Chairman of The Korean Teachers’ Credit Union Jeong Kapyoon -2024 The Korean Teachers’ Credit Union Sustainability Report 07 Introduction of The Korean Teachers’ Credit Union Organization Structure (As of Jan. 2025) Headquarters and Branches Gyeonggi Bukbu Branch 2F, 516, Pyeonghwa-ro, Uijeongbu-si, Gyeonggi-do Seoul Branch 11F, 117, Changgyeonggung-ro, Jongno-gu, Seoul Gangwon Branch 5F, 2370, Gyeongchun-ro, Seoul Headquarters Chuncheon-si, Gangwon-do Board of Representatives 50, Yeouinaru-ro, Chairman Yeongdeungpo-gu, Seoul Steering Committee Chungbuk Branch 4F, 15, Pungsan-ro, Heungdeok-gu, Cheongju-si, Chungcheongbuk-do Incheon Branch 2F, 357, Baekbeom-ro, Chief Audit Officer Daegu/Gyeongbuk Branch Namdong-gu, Incheon 4F, 334, Dongdaegu-ro, Suseong-gu, Strategic Planning Department Audit Department Daegu Risk Management Department Gyeonggi Nambu Branch Ulsan Branch Compliance Department 5F, 178, Gwongwang-ro, Paldal-gu, 7F, 197, Samsan-ro, Nam-gu, Ulsan Information Security Department Suwon-si, Gyeonggi-do Gyeongnam Branch 3F, 107, Jungang-daero, Chief Customer Chief Operating Chief Investment Daejeon/Chungnam/ Officer (CCO) Officer (COO) Officer (CIO) Seongsan-gu, Changwon-si, Sejong Branch Gyeongsangnam-do 3F, 8, Dunsanjung-ro, Seo-gu, Daejeon Busan Branch Membership Strategy General Affairs Investment Strategy Department Department Department 2F, 192, Jungang-daero, Dong-gu, Busan Membership Marketing Human Resources Financial Jeonbuk Branch Department Department Investment Department 4F, 1, Ongoeul-ro, Wansan-gu, Membership Information Corporate Jeonju-si, Jeollabuk-do Welfare Department Technology Department Investment Department Jeju Branch Membership Service Property Management Infrastructure 7F, 150, Jungang-ro, Jeju-si, Operation Department Department Investment Department Jeju-do Insurance Service Real Estate Investment Department Department Gwangju/Jeonnam Branch Regional Headquarters 1F, 52, Jukbong-daero, Seo-gu, Gwangju -2024 The Korean Teachers’ Credit Union Sustainability Report 18 2023 The-K ESG Highlights Environmental Social Governance Investment Enhancement of Mobile app Alternative Investment Pre-review development and 38 cases, website renewal KRW 5,660.1 billion Environmental Management Campaign Subsidiaries Environment Internal Audit Committee pop-up market, Capacity Enhancement Discussion workshop Clean Action Campaign Government Award for Excellence in Sustainability Management Waste from cleaning-out desks* Self-Integrity Evaluation The Minister of Trade, 4,890 kg Industry and Energy Award 94.2 points * An initiative to safely dispose of remaining printed in the Comprehensive materials after use ESG Category Commemorating Government Awards for Excellence in Sustainability Management Persons with ESG Index Overall Average Recycling of used Disabilities Veterans 4.21 points PET bottles 3.2 % 9.5 % (0.43 points increase compared to 2021) Umbrella distribution -2024 The Korean Teachers’ Credit Union Sustainability Report 19 2024 The-K ESG Highlights Environmental Social Governance Investment Acquisition of Information Security Management System (ISMS) Certification Paperless System Usage ESG Investment* Scale Launch of Information Membership Welfare Services Approximately 83 % Average Satisfaction Security Department KRW 1,983.8 billion (2024 4Q) 98.2 points (January 2025) * Equities, bonds, alternative investments, corporate finance Consumer-Centered Fund Management Returns Management (CCM) 11.1% Achieved Acquisition of 7th Certification ACRC Auditor Contest Received Best Institution Call Center Eco-friendly Product Purchase 422.45 million Award in Public Service KRW Restructuring Discipline and Integrity Ethics Category -2024 The Korean Teachers’ Credit Union Sustainability Report 20 The-K ESG Journey Sustainable Management Milestones Since publishing its first sustainability report in 2008, KTCU has implemented a wide range of initiatives and systems to uphold social responsibility and transparent management.

Annex: Subsidiaries & affiliates

English Affiliates page and KR disclosure list The-K group entities including hotel & resort operations (e.g. Sheraton Jeju Hotel / The-K Jeju Hotel), The-K Savings Bank, The-K Sophia Green, The-K Yedaham (mutual-aid funeral), and The-K Teachers’ Country (교직원나라). These operating affiliates sit alongside the financial portfolio as part of the member-welfare and earnings platform; product-marketing copy on affiliate pages is truncated here in favour of institutional facts.

Affiliates - Subsidiaries - Korean Teachers’ Credit Union 본문 바로가기 주메뉴 바로가기 Korean Teachers’ Credit Union Company Overview Chairman's Message Management Vision Mission Vision Framework of The-K Way History Organization Sustainability Management System Sustainability Management Strategy Sustainability Report Sustainability Management Environment Social Safety and Health Management System Stakeholder communication channel Governance Board of Directors Internal Control System Location of Headquarters Management Information Asset Management Overview Asset Management System Asset Management Organization Asset Management Decision-making Flow Chart Committees related to Asset Management External Committee In Committee Asset Management Related Standards Major Business Performance Mutual Aid System Saving Loan Insurance Welfare Services The-K happiness Service Welfare Benefits Partnership Services PR Videos Publications Subsidiaries Affiliates 메뉴 열기 메뉴 닫기 Subsidiaries Affiliates Affiliates The-K Jeju Hotel(Sheraton Jeju Hotel) 1 / 1 The-K Jeju Hotel(Sheraton Jeju Hotel) https://www.marriott.com/ko/hotels/cjusi-sheraton-jeju-hotel/overview/ Address (63165) Tapdong-ro 66, Jeju-si, Jeju-do (Samdo 2-dong 1255) Contact (064) 729-8100 A world-class oceanfront hotel offering sophisticated accommodations, exceptional amenities and dining experiences, with the perfect balance of accessibility and relaxation.

WELCOME TO SHERATON JEJU HOTEL Oceanfront Hotel Near Jeju Airport Located on Jeju City's waterfront with a view over the Tapdong coastline, the Sheraton Jeju Hotel offers guests newly transformed rooms, modern amenities and warm, signature hospitality. Located minutes from Jeju International Airport and the city's key commercial and tourism districts, the hotel embodies the perfect balance of accessibility with relaxation in a delightful destination surrounded by stunning coastal scenery.

Showcasing the finest of international hospitality standards alongside a proximity to cultural experiences, local shopping and entertainment attractions, the Sheraton Jeju Hotel features sophisticated guestrooms, exceptional dining experiences and versatile spaces for meetings, events and celebrations.

From ocean-inspired moments to dedicated personalized service, every detail is carefully crafted to help you enjoy the captivating highlights Jeju has to offer. Move your stay to the next level with the Sheraton Club Lounge Experience, the ideal retreat for an elevated guest experience.  [The-K Hotel & Resort] The-K Hotel Gyeongju 1 / 1 The-K Hotel Gyeongju www.thek-hotel.co.kr Address (38116) Exporo 45, Gyeongju, Gyeongbuk (Sinpyeong-dong 150-2) Contact (054) 745-8100 Spacious and comfortable hotel befitting the capital city of the illustrious ancient kingdom of Silla The-K Hotel & Resort operates KTCU's subsidiary hotels such as The-K Hotel Gyeongju, The-K Seoraksan Family Hotel, and The-K Jirisan Family Hotel It is a premium hotel located in the Bomun Tourism Complex where you can enjoy a tour of artifacts and recreational spa facilities all at the same time.

It is well equipped with 267 rooms and additional facilities including a convention hall that can accommodate 1,200 people. The complex recreational space 'Spa World' provides a comfortable resting environment for you. [The-K Hotel & Resort] The-K Seoraksan Family Hotel 1 / 1 The-K Seoraksan Family Hotel www.thek-hotel.co.kr Address (24904) Seoraksan-ro 470-7,Sokcho-si, Gangwon-do (Domun-dong 155) Contact (033) 639-8100 Popular destinations for family trips as well as other group events, including school trips The-K Hotel & Resort operates KTCU's subsidiary hotels such as The-K Hotel Gyeongju, The-K Seoraksan Family Hotel, and The-K Jirisan Family Hotel It is a condo-type family hotel located near the entrance of Mt.

Seoraksan in Sokcho, Gangwon-do, where you can enjoy the sunrise of Mt. Seoraksan, a ski resort, and the beach. It has 76 rooms and various additional facilities, and is popular for providing family units and group traveling facilities that are ideal for school trips. [The-K Hotel & Resort] The-K Jirisan Family Hotel 1 / 1 The-K Jirisan Family Hotel www.thek-hotel.co.kr Address (57605) Jirisan Oncheon-ro 317, Sandong-myeon, Gurye-gun, Jeonnam-Gwangju Special Metropolitan City (Daepyeong-ri 729) Contact (061) 783-8100 Condo with state-of-the-art well-being spa facilities The-K Hotel & Resort operates KTCU's subsidiary hotels such as The-K Hotel Gyeongju, The-K Seoraksan Family Hotel, and The-K Jirisan Family Hotel It is a condo-type family hotel located in the Sandong spa district in Gurye-gun, Jeonnam-Gwangju Special Metropolitan City, equipped with 134 rooms and state-of-the-art leisure spa facilities including the germanium hot spring sauna that is especially effective in treating neuralgia.

Annex: Act, MoE & disclosure stack

Korean 공제회관련법 page points to downloads for the Act, Articles of Association, employee code of conduct, and member service charter. 경영공시 overview enumerates disclosure families: general status; institutional operations (executives, pay, travel); business & performance (balance sheet, income statement, investment execution, tax); asset-management status; external evaluations; other (hiring, tenders, research). Contact channel for disclosure questions is published as email on that page (public elite profile omits phone directories).

English History page supplies a dense award and product-launch chronology from the 1970s through 2025 (CCM designations, SNS awards, audit recognitions, app/website launch Nov 2023, risk-division restructure Jul 2024, Chairman inauguration Dec 2023). Those dated lines are treated as official timeline inputs rather than performance claims.

History - Company Overview - Korean Teachers’ Credit Union 본문 바로가기 주메뉴 바로가기 Company Overview History Mission·Vision, Framework of The-K Way(by KTCU) 2020s 2010s 2000s 1990s 1980s 1970s History 2020~Today 2020~Today 2025.12.12 Inducted into the Hall of Fame for Consumer Centered Management(CCM) in 2025 2025.12.12 Awarded the Grand Prize in Public Discipline, Integrity, and Ethics at the 2025 Korea Public Sector Auditors Convention 2025.12.11 Awarded the Outstanding Organization Award in the Internal Audit category at the 2025 Korea Auditors Conference 2025.11.26 Awarded the Grand Prize in the Non-profit category (Blog and youtube) at the 2025 korea SNS Awards 2024.12.12 Received the 7th Consumer Centered Management (CCM) business designation 2024.11.28 Received the Exellent Institution Award in the Compliance monitoring category at the 2024 Korea Auditors Conference 2024.11.21 Received the award for best new company magazine at the 2024 Korea Business Communication Award 2024.10.17 Received the Most Outstanding Award in the Non-profit Organization Category at the 2024 Korea SNS Award 2024.09.19 Acquired Information Security Management System(ISMS) 2024.07.01 Restructured the organization, including a new Risk management Division (5 Divisions, 10 Departments, 41 teams, 6 Regional Headquarters, 18 City/Provincial Offices → 6 Divisions, 12 Deparments, 45 teams, 4 Regional Headquarters, 14 City/Provincial Offices) 2024.05.20 Hosted the 13th Korea Teacher’s Award Ceremony 2024.05.10 Won the Financial Services Commissioner’s Award in the ESG Finance category at the 18th National Sustainability ESG Conference 2023.12.18 Jeong Kab-yoon inaugurated as the 23rd Chairman 2023.12.15 Received the Commendation from the Minister of Education for contribution to Government Student Aid in the creating a foundation for a customized national scholarship system (Private Donor) category Received the Commendation from the Minister of Education for contribution to the work of Emergency Preparedness(Ulchi-Freedom Guardian) in 2023 2023.12.14 Awarded the Commendation from the Minister of Trade, Industry and Energy in the general ESG category at the 2023 Sustainable Management Government Award 2023.12.07 Received the Excellent Institution Award in the Strategic-Innovation category at the 2023 Korea Auditors Conference 2023.11.30 Received the commendation from the Mayor of Seoul for contribution to promoting the welfare of children in 2023 2023.11.27 Hosted the 119th representative conference Launched the Mobile Application(The-K) and the New Website 2023.11.24 Received the Speaker of the National Assembly Award in the Print External Periodicals category at the 2023 Korea Business Communication Awards 2023.10.12 Received the Most Outstanding Award in the Non-profit Organization Category at the 2023 Korea SNS Award 2023.06.12 Launched 3 Plus Alzheimer's Disease Mutual Aid and Simplified 3 Plus Alzheimer's Disease Mutual Aid 2023.05.22 Hosted the 12th Korea Teacher's Award ceremony 2023.03.20 Hosted the 116th representative conference 2022.12.15 Received the Most Outstanding Institution Award in the Internal Audit (business and accounting) category at the 2022 Korean Public Institution Auditor Conference 2022.12.09 Received the 6th Consumer Centered Management (CCM) business designation 2022.12.08 Received the Most Outstanding Social Value Realization Agency Award (public institution category) at the 2022 Korea Auditors Conference 2022.11.30 Received the Chairperson’s Award from the Korea Press Foundation in the Print External Periodicals category at the 2022 Korea Business Communication Awards 2022.11.28 115th representative conference 2022.05.20 Hosted the 11th Korea Teacher’s Award ceremony 2022.03.01 Enacted a revised Installment Plan Loan system (expanded applicable qualification) 2022.02.01 Increased maximum number of accounts for Lump Sum Benefit from 100 to 300 Increased maximum number of accounts for Retirement Savings Benefit from 60 to 100 2022.01.03 Opened an e-application system for insurance products on mobile platforms Opened a new insurance customer service call center in Incheon 2021.11.25 Hosted the 111th representative conference 2021.11.24 Won the Grand Prize at the 2021 Korea Business Communication Awards Received the Minister of Culture, Sports and Tourism Award in the Organization History category 2021.11.21 Received the Grand Prize at the US LACP 2021 Spotlight Award in the Sustainability Report category 2021.06.30 Published the 50-year history of the Korea Teachers' Credit Union 2021.05.28 Hosted the 10th Korea Teacher's Award ceremony 2021.04.26 Remodeled 2 health insurance products Launched a SI(simplified issue) comprehensive insurance product 2021.04.22 Hosted “The-K Forest” campaign to celebrate the 50th anniversary of the Korea Teachers’ Credit Union’s foundation 2021.03.15 Held 50th anniversary ceremony 2020.12.31 Won Grand prize (Internal Auditing (Business Operations and Accounting) Category) at the 2020 Korean Public Institution Auditors Awards 2020.12.23 Restructured the organization (5 Divisions, 10 Departments, 37 Teams, 5 Regional Headquarters, 18 City/Provincial Offices → 5 Divisions, 10 Departments, 38 Teams, 6 Regional Headquarters, 18 City/Provincial Offices) 2020.12.09 Received the 5th Consumer Centered Management (CCM) business designation 2020.12.04 Won the Silver Prize at the 15th Korea Ecological Architecture Award 2020.11.12 Kim Sang-gon inaugurated as the 22nd Chairman 2020.11.03 Remodeled 5 comprehensive welfare benefit insurance products 2020.06.15 Launched the health checkup partnership service 2020.06.04 Implemented Corporate Deposit Benefit system 2020.05.22 Hosted the 9th Korea Teacher's Award ceremony 2020.02.20 Remodeled 4 comprehensive insurance products 2020.02.17 Won the Grand Prize at the 2018/19 US LACP Vision Awards (Sustainability Report category) Won the Gold Prize at the 2018/19 US LACP Vision Awards (Best Report Narrative category) History 2010~2019 2010~2019 2019.12.11 Received the Korea Standards Association Chairperson’s Award for Government Award category at the 7th 2019.12.09 Received the Special Korea Business Communications Association Chairperson's Award at the 2019 Korea Business Communication Awards 2019.11.25 110th representative conference 2019.09.01 Revised the computation method for Long-term Savings Benefit payments from an Annual multiplier system to an Interest rate system Increased maximum number of accounts for Long-term Savings Benefit from 1,000 to 1,500 2019.07.12 Received the Most Outstanding Award for credit unions at the 6th Korea Fund & Asset Management Awards 2019.07.02 Launched a specialized Dementia Insurance, and a Simple Subscription Dementia Insurance 2019.07.01 Restructured the organization, including a new Compliance Division and Member Business Strategy Division (3 Divisions, 10 Departments, 35 Teams, 6 Regional Headquarters, 18 City/Provincial Offices → 5 Divisions, 10 Departments, 37 Teams, 5 Regional Headquarters, 18 City/Provincial Offices) 2019.05.31 Hosted the 8th Korean Teachers’ Awards ceremony 2019.05.03 Launched a new Cancer Insurance 2019.03.25 109th representative conference 2018.12.14 Received the 4th Consumer Centered Management (CCM) business designation 2018.11.26 108th representative conference 2018.11.02 Won Grand Prize (Mutual Aid Category) at the 5th Fund · Asset Management Award 2018.11.01 Launched a Mental Illness Care Insurance 2018.10.01 Cha Sung-Soo inaugurated as the 21th Chairman 2018.09.04 Enlargement implemented The-K Welfare Loan 2018.05.23 Hosted the 7th Korean Teachers’ Awards ceremony 2018.05.15 Launched the Perfect Insurance for Teachers and Staff 2018.03.22 The-K Tower Open 107th representative conference 2018.03.19 Restructured the organization, including a new Fund Management Strategy Division (2 Divisions, 10 Departments, 33 Teams, 6 Regional Headquarters, 18 City/Provincial Offices → 3 Divisions, 10 Departments, 35 Teams, 6 Regional Headquarters, 18 City/Provincial Offices) 2018.03.01 Implemented Installment Plan Loan 2017.12.06 Received the award for best new company magazine at the 2017 Korea Business Communication Awards 2017.12.05 Received the award for sustainability management at the 2017 Korea Management Awards 2017.12.01 Awarded a Presidential Citation on the 22nd Consumer Rights Day 2017.11.27 106th representative conference 2017.11.15 Won the Other Public Organization Award at the 2017 Korea Social Media Awards 2017.11.06 Launched healthcare service 2017.09.01 The-K Magazine Foundation Won Most Outstanding Prize (Mutual Aid Category) at the 4th Fund · Asset Management Award 2017.07.17 Ceased publication of the Korea Teachers’ Newspaper 2017.07.10 Launched a Simple Subscription Insurance for Teachers and Staff, and Health Insurance for Teachers and Staff at Kyowon Life 2017.07.05 105th representative conference 2017.06.22 6th Korean Teacher's Award ceremony 2017.03.20 104th representative conference 2016.12.22 Received the 3rd Consumer Centered Management (CCM) business designation 2016.11.21 103rd representative conference 2016.06.09 Won Grand Prize at the 10th National Sustainability Management Conference 2016.05.23 Hosted the 5th Korean Teachers’ Awards ceremony 2016.04.01 Implemented The-K Welfare Loan 2016.03.24 Moon Yong-lin inaugurated as the 20th Chairman 2016.03.21 102nd representative conference 2016.01.29 Acquired the Information Security Management System (ISMS) certification 2015.11.30 101st representative conference 2015.10.30 Opened webpage for notification of management information 2015.08.21 20th anniversary for Insurance Business / announcement of insurance brand "Teacher's Life" 2015.07.21 20th anniversary for The-K Hotel Gyeongju 2015.07.01 Increased maximum number of accounts for Long-term Savings Benefit from 700 to 1,000 2015.06.30 Won Grand Prize at the 9th National Sustainability Management Conference 2015.06.24 Won Grand Prize (Mutual Aid Category) at the 2nd Fund · Asset Management Award 2015.05.20 4th Korean Teacher's Award ceremony 2015.03.23 100th representative conference 2015.03.01 Implemented Long-term Savings Benefit After Retirement system 2014.12.11 Received the 2nd Consumer Centered Management (CCM) business designation 2014.11.24 99th representative conference 2014.10.23 3rd Korean Teacher's Award ceremony 2014.09.30 Opened Kyunggi Center 2014.07.01 Opened Kyunggi North Branch 2014.05.28 Won Grand Prize (Mutual Aid Category) at the 1st Fund · Asset Management Award 2014.04.01 Restructured the organization, including a new Overseas Investment Department (2 Divisions, 9 Departments, 30 Teams, 6 Regional Headquarters, 17 City/Provincial Offices → 2 Divisions, 10 Departments, 33 Teams, 6 Regional Headquarters, 18 City/Provincial Offices) 2014.03.24 98th representative conference 2014.03.14 Held 43rd anniversary ceremony and announced CI 2014.02.27 Held Conference on 2014 Business Strategy and Investment Plan 2014.01.15 Launched 2020 Future Planning Task Force 2013.12.04 Won the Most Outstanding Advertisement Prize and Most Outstanding Public Campaign Prize at the 2013 Korea Business Communication Awards 2013.11.28 Won Grand Prize (Broadcasting/Education Category) at the 2013 Korea Internet Communication Satisfaction Index Award 2013.11.05 Won Grand Prize at the 2013 Public Service Award 2013.09.30 Rhee Q-Taek inaugurated as the 19th Chairman 2013.09.02 Released Indexed Savings Benefit Opened Convention Center at The-K Hotel Seoul 2013.08.26 Won the Most Outstanding Prize (Public Institution Category) at the 3rd Korea SNS Awards 2013.07.09 96th representative conference Designated as an organization exempted from integrity assessment 2013.05.29 2nd Korean Teacher's Award ceremony 2013.04.05 Announced The-K Hotel Seoul brand 2013.04.01 Released Centennial Happiness Insurance 2013.03.25 95th representative conference 2013.03.15 Held 42nd anniversary ceremony 2013.03.01 Launched "The-K Happiness Service" a life · culture · welfare service brand 2013.02.21 Won 1st Prize at Integrity Assessment for Public Institutions for two consecutive years 2012.12.27 Won Grand Prize for 2012 Love Share Social Contribution Award 2012.12.11 Received Consumer Centered Management(CCM) business designation 2012.12.06 Won Grand Prize (Public Blog Category) at the 2012 Web Award Korea 2012.11.27 Gyeongju Hotel BI proclamation ceremony 2012.11.26 94th representative conference 2012.11.05 Ethics Day celebration 2012.10.12 Conducted 2012 regular parliamentary inspection of the administration 2012.07.19 Hosted a ceremony to announce the new Consumer Centered Management (CCM) system 2012.07.18 Opened KTCU Facebook and Twitter 2012.06.12 Selected as the highest-rated institution for integrity at the founding ceremony of the Anti-Corruption and Civil Rights Commission's Integrity Leaders’ Club 2012.05.11 1st Korea Teachers Award ceremony 2012.05.09 Business cooperation with Korean Council for University Education 2012.05.01 Launched new children/senior citizen insurances 2012.04.17 Business cooperation with The-K Non-Life Insurance, Renault Samsung Motors, and Hana Bank 2012.02.01 Comprehensive call center for customer service in the cities and provinces 2011.12.15 Business cooperation with Military Mutual Aid Association 2011.12.14 Selected as having the highest level of integrity among public institutions 2011.11.22 Business cooperation with Hana Financial Group 2011.12.02 Won 2011 Customer Satisfaction Management Award 2011.10.07 Received the Comprehensive Award at the 2011 Korea Sustainability Management Awards 2011.07.07 Announced “The-K,” an integrated brand for Union subsidiaries 2011.05.19 Announced amendments to the Korea Teachers and Staff Mutual Aid Association Act (Law No.

10643) 2011.05.11 Hosted the 7th Korea Education Awards 2011.03.15 Held 40th anniversary ceremony 2011.03.01 Restructured the organization (2 Divisions, 8 Departments, 26 Teams, 16 City/Provincial Offices → 2 Divisions, 8 Departments, 30 Teams, 16 City/Provincial Offices) 2010.12.09 Selected as best institution for integrity 2010.09.25 Kim Jeong-Ki inaugurated as the 18th Chairman of KTCU 2010.06.29 Acquired 2010 web accessibility quality mark 2010.05.13 6th Korean Education Award ceremony 2010.05.06 Signboard hanging ceremony of Manwolsan Tunnel 2010.02.09 Renamed the company from “Kyowon Nara Venture Investment Co., Ltd.” to “Kyowon Nara Investment Co., Ltd.” 2010.02.05 Won Grand Prize at the Korea Ethics Management Award 2010.01.01 Opened KTCU blog 'Attic of Educational Personnel' Launched “Yedaham” mutual aid services via The K Life Co., Ltd.

History 2000~2009 2000~2009 2009.11.24 Won Grand Prize at the Korea Ethics Management Award 2009.10.27 Won Grand Prize at the Korea Ethics Management Award 2009.10.10 Won Grand Prize at the Korea Ethics Management Award 2009.09.01 Won Grand Prize at the Korea Ethics Management Award 2009.07.14 Won Grand Prize at the Korea Ethics Management Award 2009.05.13 Won Grand Prize at the Korea Ethics Management Award 2009.04.01 Won Grand Prize at the Korea Ethics Management Award 2009.03.30 Won Grand Prize at the Korea Ethics Management Award 2008.11.05 The-K Non-Life Insurance CI proclamation ceremony 2008.05.14 4th Korean Education Award ceremony 2008.03.01 Launched cancer insurance 'Cancer Mutual Aid for Educational Personnel 2007.09.25 Lee Jong-seo inaugurated as the 17th chairman 2007.07.16 Launched female insurance 'Female Love Mutual Aid for Educational Personnel' 2007.06.13 3rd Korean Education Award ceremony 2007.05.15 Launched pension-type insurance 'Income Guarantee Mutual Aid for Educational Personnel' 2007.05.10 Grand opening of Sophia Green Country Club 2007.04.10 Business cooperation with Hanwha Resort Grand opening of Sophia Green Country Club 2006.10.01 Launched remodeling insurance product 2006.08.02 Completion ceremony of Sophia Green Country Club 2006.05.12 2nd Korean Education Award ceremony 2006.04.10 Launched silver insurance 'Silver Insurance for Educational Personnel' 2006.03.16 Grand opening of Sophia Green Country Club Established The Third Age Corp.

2005.11.01 Implemented children's insurance 'Children Mutual Aid for Educational Personnel' 2005.10.19 Acquired shares in Samyang Foods 2005.08.02 Participated in Jinro M&A Hite consortium 2005.05.06 1st Korean Education Award ceremony 2004.10.01 Enforced regular insurance 'Regular Mutual Aid for Educational Personnel' 2004.09.25 Kim Pyeong-Su inaugurated as the 16th Chairman of KTCU 2004.06.23 Opened Incheon Cheonma Tunnel 2004.04.01 Enforced accumulative (pension, life) savings plan 2004.02.04 Hosted a declaration ceremony for the renaming of the company to The Korean Teachers' Credit Union 2004.01.20 Renamed the company from the “Teachers' Credit Union” to “The Korean Teachers' Credit Union” Proclaimed revision of Korean Teachers' Credit Union Act (Law No.

7070) 2003.12.26 Acquired stocks in New Airport Highway 2003.12.01 Launched Kyowon Nara Car Insurance (Educar) 2003.11.01 Enforced whole life insurance 'Whole Life Mutual Aid for Educational Personnel' 2003.10.09 Opened Jirisan Family Hotel 2003.07.01 Opened Ramada Plaza Jeju Hotel 2003.03.21 Lee Kee-Woo inaugurated as the 15th Chairman of KTCU 2002.12.10 Opened the Daejeon Center 2002.05.01 Opened Teachi-call service 2001.12.01 Started issuing the LG Teachers’ Welfare Card 2001.10.09 Kyowon Nara Leisure Development 2001.07.10 Opened Gangwon Building 2001.06.29 Opened Spa World, annex to Gyeongju Education and Culture Center 2001.06.28 Exceeded 100 million accounts of long-term deposit payment accounts 2001.04.10 Published "Teachers' Credit Union 30th Year" 2001.04.01 Expanded long-term deposit payment accounts (300 accounts → 500 accounts) 2001.03.16 Opened "Kyowon Nara", an internet web portal designed exclusively for teachers 2001.01.01 Enforced welfare loan service and subsistence savings 2000.06.28 Proclaimed enactment of membership service charter 2000.05.02 Managed membership call center for integrated welfare payment 2000.01.10 Cho sun-je inaugurated as the 14th chairman History 1990~1999 1990~1999 1999.12.21 Opened Jeonbuk Office 1999.11.01 Discontinued the PC communication service and opened an Internet website ( www.ktmf.or.kr) 1999.06.21 Completed verification of computer system Y2K problem 1999.04.07 Amended the Articles of Incorporation (no. of representatives: 75 → 79) 1999.03.01 Implemented comprehensive welfare payment guaranteed for groups 1998.12.31 Discontinued new memberships of scholarship benefit system 1998.06.03 Changed title from “Teachers' Credit Union Newsletter” to “Korean Teachers’ Credit Union Newspaper” 1998.03.01 Expanded long-term deposit payment accounts (150 accounts → 200 accounts) 1998.02.10 Restructured the organization to help overcome the IMF crisis (4 Divisions, 10 Departments, 26 Teams → 4 Divisions, 8 Departments, 22 Teams) 1998.01.01 Expanded limitation for retirement savings benefit to KRW 300 million, lump sum benefit KRW 100 million 1997.06.30 Closed Korea Science Teaching Aid Organization 1997.05.12 Held a small commemorative dinner to which outstanding teachers were invited 1997.04.04 Opened Daegu Office Expanded long-term deposit payment accounts(120 accounts → 150 accounts) 1997.01.13 Kim Ha-jun inaugurated as the 13th chairman 1996.07.01 Lee Cheon-soo inaugurated as the 12th chairman 1996.02.13 Opened Gyeongnam Office 1996.02.07 Opened Incheon Office 1996.01.01 Opened Seorak Education and Culture Center (renovated as a family hotel) 1995.09.01 Implemented comprehensive welfare payment system 1995.07.10 Opened Gyeongju Education and Culture Center 1995.03.01 Adjusted maximum amount insured for retirement savings benefit (KRW 100 million → 200 million) 1994.10.01 Installed and managed voice mailing system (VMS) 1994.04.19 Signed contract for co-brand card with BC Card 1993.12.02 Signed contract for co-brand card with BC Card 1993.07.02 Park Yong-jin inaugurated as the 11th chairman 1993.03.29 Exceeded 400,000 members 1993.01.01 Expanded long-term deposit payment accounts (80 accounts → 120 accounts) 1992.10.05 Published Korea Teachers' Mutual Fund 20-Year History 1991.06.01 Expanded limitation for retirement savings benefit to KRW 100 million, lump sum benefit KRW 50 million 1991.04.06 Kim Young-sik inaugurated as the 10th chairman 1991.03.16 Opened Seoul Education and Culture Center 1990.05.20 Produced and aired TV commercial to promote respect for teachers 1990.05.01 Produced song tape of 'My Teacher My Alumni' to promote an atmosphere wherein teachers are respected and supplied the tapes to schools nationwide 1990.04.20 Assets exceeded KRW 1 trillion 1990.03.17 Exceeded 20 million accounts of long-term deposit payment accounts 1990.03.01 Quota participation in Kyowon Nara Venture Capital (former International Venture Capital) 1990.01.01 Expanded long-term deposit payment accounts (50 accounts → 80 accounts) History 1980~1989 1980~1989 1989.12.31 Provided special additional money of KRW 30.882 billion for 325,991 members 1989.08.16 Provided compensation for members who suffered flood damage (KRW 45.7 million for 457 people)) 1988.08.29 Established labor union 1988.06.30 Exceeded 300,000 members 1988.04.05 Son Sung-sik inaugurated as the 9th chairman 1988.03.02 Inaugurated "Award of Volunteer and Trust" 1987.04.01 Implemented Retirement Savings Benefit system 1985.11.01 Held awards ceremony for the 4th Teachers' Memoirs 1985.07.12 Opened Busan Office 1985.03.16 Son Sung-sik inaugurated as the 8th chairman 1984.10.26 Held awards ceremony for the 3rd Teachers' Memoirs 1984.02.20 Exceeded 5 million accounts of Long-term Savings Benefit payments accounts 1983.10.31 Held awards ceremony for the 2nd Teachers' Memoirs 1983.10.18 Chung Tae-soo inaugurated as the 7th chairman 1983.07.01 Expanded long-term deposit payment accounts (30 accounts → 50 accounts) 1983.03.16 Implemented Lump Sum Benefit system 1982.12.21 Held awards ceremony for the 1st Teachers' Memoirs 1982.08.01 Changed name from "Teachers' Credit Union Newsletter" to "Teachers' Welfare News" 1982.07.26 Opened Seoul Dongwon Assembly House 1982.03.19 Opened the Seorak Youth Hostel 1981.12.17 Exceeded 2 million accounts of long-term deposit payment accounts 1981.07.01 Established service center for members 1981.05.30 Exceeded 200,000 members 1981.04.27 Kim Han-joo inaugurated as the 6th chairman 1981.03.16 Published "Teachers' Credit Union 10-Year History" 1981.01.01 Expanded long-term deposit payment accounts (15 accounts → 30 accounts) Retroactive addition of allowance rate by 1 year according to the increment 1980.09.18 Exceeded 1 million accounts of long-term deposit payment accounts 1980.01.01 Expanded long-term deposit payment accounts (10 accounts → 15 accounts) Retroactive addition of terms of policy by 1 year according to the increment Changed name to "Credit Union Newsletter" to "Teachers' Credit Union Newsletter" (published monthly) History 1970~1979 1970~1979 1979.01.01 Established and implemented scholarship benefit system 1978.09.02 Relocated headquarters (from Suha-dong to the present building in Yeouido) 1978.05.31 Assets exceeded KRW 20 billion 1978.02.16 Go Gwang-deuk inaugurated as the 5th chairman 1977.06.22 Started computerization of member tasks 1976.06.22 Exceeded 150,000 members 1976.03.16 Assets exceeded KRW 10 billion 1976.02.21 Moon Hee-seok inaugurated as the 4th chairman 1976.01.01 Combined Korea Science Teaching Aid Organization and Korea Teaching Material Development Organization 1975.10.30 Building completion ceremony of the Korea Science Teaching Aid Organization plant 1975.07.01 Started computerization of tasks 1975.03.01 Expanded limitations of long-term deposit payment (5 accounts →10 accounts) 1974.11.29 Permitted establishment of Korea Science Teaching Aid Organization (Minister of Education) 1974.03.18 Moon Hee-seok inaugurated as the third chairman 1973.01.05 Established Korea Teaching Material Development Organization 1972.07.10 Song Jung-beom inaugurated as the second chairman 1972.02.01 Published the first issue of 'Credit Union Monthly Report' 1971.09.07 Integrated mutual aid associations of Korean Federation of Education Association 1971.07.15 Integrated Teachers' Credit Unions of Korean middle schools 1971.06.01 Implemented Long-term Savings Benefit system 1971.03.16 Inaugural assembly, Lim Young-shin inaugurated as the first chairman 1971.01.22 Proclaimed Korean 'Teachers' Credit Union Act (Law no.

FAQ

What is the Korea Teachers' Credit Union (KTCU)?

KTCU (한국교직원공제회, also branded The-K) is Korea’s statutory mutual-aid and welfare institution for current and former public educational officials, teachers, and education-institution staff. It was established under the Korean Teachers’ Credit Union Act (Act No. 2296, promulgated 22 January 1971) and is supervised by the Ministry of Education. It is not the Korea Teachers’ Pension (교직원연금공단).

What is KTCU’s official asset scale in KRW?

On KTCU’s official English Asset Management Overview and Major Business Performance pages, total assets are disclosed as KRW 85.9 trillion as of the end of 2025 (table total 858,938 in KRW 100 million units). The 2023–2024 Sustainability Report (published November 2025) separately states approximately KRW 74 trillion in total assets at end-2024. Universal Asset Owners Registry quotes official KRW only and does not invent a USD headline.

Who leads KTCU?

Official Korean management disclosure lists Jeong Kapyoon (정갑윤) as standing Chairman / institutional head (이사장) for the term 18 December 2023 through 17 December 2026. Ko Jae-taek (고재택) is standing Director for Fund Management / CIO (기금운용이사) for 1 February 2025 through 31 January 2028. The English organization page describes Executive Management as Chairman, Chief Audit Officer, Chief Customer Officer, Chief Operating Officer, and Chief Investment Officer.

How does KTCU invest?

Official English pages state that member premiums and asset-management profits fund domestic and foreign stocks and bonds; alternative investments including SOC, real estate, energy, and PEF; and member loans. Guiding principles are profitability, stability, diversified investment, and liquidity. Mid- and long-term allocation guidance published on Asset Management Related Standards includes about 77% fund-management assets, 18% member loans, and 5% other assets, with detailed financial-portfolio weights toward 2030.

What was KTCU’s 2025 portfolio performance on the official table?

Major Business Performance (English) shows 2025 total profit-and-loss of 78,076 in KRW 100 million units with a disclosed 9.7% rate; the Investment Asset Division contributed 70,249 (10.6%). Equity sleeve rates are disclosed as strongly positive in 2025 after large negative equity results in 2022.

How is investment decision-making governed?

English Asset Management pages describe an Asset Management Committee, Risk Management Committee, and Investment Deliberation Committee, plus internal councils (Investment Strategy, Investment Management, Investment Deliberation Affairs, Fair Valuation). New alternative investments follow a multi-step process including investment review, first-line risk evaluation, deliberation councils, Investment Deliberation Committee vote thresholds, and Board of Directors approval, with Ministry of Education / Steering Committee / Board of Representatives involvement in annual plan and budget approval.

What responsible-investment milestones has KTCU published?

Korean sustainability Investment pages list: 2017 ESG-related revisions in the asset-management policy statement; 2019 coal-exit finance declaration; 2019 Korea Social Value Solidarity Fund MoU; and 2021 TCFD and climate-finance support declaration toward 2050 carbon neutrality. The 2023–2024 Sustainability Report discloses ESG investment scale of KRW 1,983.8 billion at end-2024.

How many members does KTCU serve?

The Chairman’s message in the 2023–2024 Sustainability Report cites progress surpassing 920,000 members alongside end-2024 assets of about KRW 74 trillion. The English Chairman’s Message page similarly references over 940,000 members in current overview language. Secondary press (Asia Business Daily, August 2026) has cited 946,307 members and Q1 2026 assets near KRW 89.3 trillion—treat those as secondary unless restated on ktcu.or.kr / english.ktcu.or.kr.

Is KTCU a sovereign wealth fund or the National Pension Service?

No. KTCU is a special-Act mutual-aid / credit-union-style welfare institution for Korea’s education family. It is distinct from the National Pension Service (NPS) and from Korea Teachers’ Pension. Assets are managed for member benefits, savings, loans, insurance, and welfare—not as a sovereign reserve fund.

Where is KTCU headquartered?

Official English and Korean pages list headquarters at 50 Yeouinaru-ro, Yeongdeungpo-gu, Seoul (postal code 07328), The-K Korean Teachers’ Credit Union Building.

Does KTCU publish a sustainability report in English?

Yes. KTCU has published a sustainability report every two years since 2008. The ninth edition (2023–2024) was published in November 2025 in Korean and English and is downloadable from the English Sustainability Report page; it references GRI Standards 2021 and UN SDGs.

How does UAO treat USD figures for KTCU?

UAO’s elite profile uses official KRW figures from ktcu.or.kr / english.ktcu.or.kr and the Sustainability Report. Secondary USD conversions (for example KED Global headlines) are not promoted as official AUM. Researchers who need a USD view should apply their own FX; the Registry will not invent a USD headline.

Sources & further reading

Official video

Official English PR Videos page lists KTCU YouTube channel withKTCU and embeds corporate explainers. Representative embed used below: “Everything You Need to Know About KTCU: Benefits & More!” (video id AKNfYd4dgDI).

Completeness note

This elite SSR targets ~10k+ sourced words from opened official English pages, Korean 경영공시/임원/RI pages, and the 2023–2024 Sustainability Report EN PDF. Non-blocking expansions for a later pass: full Korean balance-sheet line items from 공시보고서 downloads; named outside members of the Asset Management Committee; person SSR pages for Jeong Kapyoon and Ko Jae-taek; any post-Q1 2026 official KRW update that supersedes the end-2025 EN table. No padding; no invented USD; desk hydrate untouched.

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