Based on “in-depth study”, the aim of the paper is to investigate Korea Investment Corporation (KIC), a non-commodity Sovereign Wealth Fund, in order to analyze its investment strategies over the time (2005-2012) and evaluate any form of “political bias”. Our results suggest that KIC pursues financial objectives, aiming to maximize the portfolio risk/return relationship, as it manages foreign excess reserves of those managed by Bank of Korea. We also argue that a form of ‘internal political bias’ affects investment process, as most of the financial resources are managed in-house. Overall, we support the hypothesis that in Korea Investment Corporation both financial and political objectives coexist
