# Construction Workers Mutual Aid Association

Construction Workers Mutual Aid Association is a Pension Fund based in Seoul, South Korea.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Seoul, South Korea
- **Region:** Asia
- **Address:** 8th Floor, Gukje Bldg., 109 Namdaemun-ro Jung-gu, Seoul, South Korea
- **Founded:** 1997
- **Assets under management:** Undisclosed
- **Website:** cwma.or.kr

## Regulatory record

- **Reports private funds:** No

## About

The Construction Workers Mutual Aid Association was founded in 1997 as a public institution attached to South Korea's Ministry of Employment and Labor. Its mandate centers on managing retirement contributions from the construction sector and delivering welfare, training, and employment services. Deployment spans senior real estate loans in South Korea, office and logistics assets in the United States, France, Spain, and the United Kingdom, plus infrastructure debt mandates. Confirmed positions include the KB U.S. Office General Private Real Estate Investment Trust No. 1, the Domestic Senior Real Estate Loan Fund, the Spanish Logistics Asset Fund, and the UK Solar Power Plant Portfolio. Geographic reach covers South Korea, the United States, the United Kingdom, France, and Spain. Assets under management stand at approximately $3.95 billion according to internal records. External advisors include KB Asset Management, INMARK Asset Management, Koramco Asset Management, and Goldman Sachs. No additional offices or philanthropic vehicles are disclosed. The association operates under direct statutory oversight by the Ministry of Employment and Labor, which shapes its investment policy and reporting requirements.

## Sectors

- Real Estate
- Infrastructure

## People

- Jung-su Han — Chief Investment Officer

## Questions

### Who runs investment decisions at Construction Workers Mutual Aid Association?

Jung-su Han serves as Chief Investment Officer. Investment execution occurs through a combination of internal oversight and external mandates to asset managers such as KB Asset Management and INMARK Asset Management.

### Does Construction Workers Mutual Aid Association participate in fund commitments or only direct deals?

The association holds both direct real estate and debt positions as well as commitments to blind funds and external vehicles, including the Domestic Real Estate Blind Fund and Global Infrastructure Debt Fund.

### Which sectors does Construction Workers Mutual Aid Association explicitly avoid?

No explicit avoidance list is published. Holdings concentrate in real estate, infrastructure debt, and limited private equity without disclosed restrictions on other sectors.

### How is Construction Workers Mutual Aid Association related to the Ministry of Employment and Labor?

The association functions as a public institution established under the Ministry of Employment and Labor, with its retirement mutual aid program and investment activities subject to that ministry's oversight.

### What investment stages does Construction Workers Mutual Aid Association typically target?

The association targets income-producing real estate debt, operating infrastructure assets, and select private equity and venture commitments rather than early-stage venture capital.

## Related profiles

- [Cardinal Point Wealth Management](https://altss.com/profile/cardinal-point-wealth-management)
- [Georgetown University Endowment](https://altss.com/profile/georgetown-university-endowment)

---

Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/construction-workers-mutual-aid-association

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology