Photos show costumed participants steer stand-up paddle boards at a festival in Russia

ST. PETERSBURG, Russia (AP) — Thousands of people attend an annual festival where participants wear costumes and steer stand-up paddle boards down picturesque waterways in St. Petersburg, Russia.

This is a photo gallery curated by AP photo editors.

People steer their stand-up paddle (SUP) boards along the Moyka River at the annual costumed 'Fontanka' SUP-boards festival attracting more than 10,000 participants, in St. Petersburg, Russia, Saturday, Aug. 2, 2025. (AP Photo/Dmitri Lovetsky)

People steer their stand-up paddle (SUP) boards along the Moyka River at the annual costumed 'Fontanka' SUP-boards festival attracting more than 10,000 participants, in St. Petersburg, Russia, Saturday, Aug. 2, 2025. (AP Photo/Dmitri Lovetsky)

People steer their stand-up paddle (SUP) boards along the Kriukov Channel at the annual costumed 'Fontanka' SUP-boards festival attracting more than 10,000 participants, in St. Petersburg, Russia, Saturday, Aug. 2, 2025. (AP Photo/Dmitri Lovetsky)

A retired Russian military paratrooper, left, steers his stand-up paddle (SUP) board along the Moyka River at the annual costumed 'Fontanka' SUP-boards festival attracting more than 10,000 participants, in St. Petersburg, Russia, Saturday, Aug. 2, 2025. (AP Photo/Dmitri Lovetsky)

People steer their stand-up paddle (SUP) boards along the Moyka River at the annual costumed 'Fontanka' SUP-boards festival attracting more than 10,000 participants, in St. Petersburg, Russia, Saturday, Aug. 2, 2025. (AP Photo/Dmitri Lovetsky)

People steer their stand-up paddle (SUP) boards along the Moyka River at the annual costumed 'Fontanka' SUP-boards festival attracting more than 10,000 participants, in St. Petersburg, Russia, Saturday, Aug. 2, 2025. (AP Photo/Dmitri Lovetsky)

People steer their stand-up paddle (SUP) boards along the Kriukov Channel at the annual costumed 'Fontanka' SUP-boards festival attracting more than 10,000 participants, in St. Petersburg, Russia, Saturday, Aug. 2, 2025. (AP Photo/Dmitri Lovetsky)

People steer their stand-up paddle (SUP) boards during rainfall along the Moyka River at the annual costumed 'Fontanka' SUP-boards festival attracting more than 10,000 participants, in St. Petersburg, Russia, Saturday, Aug. 2, 2025. (AP Photo/Dmitri Lovetsky)

People steer their stand-up paddle (SUP) boards along the Moyka River at the annual costumed 'Fontanka' SUP-boards festival attracting more than 10,000 participants, in St. Petersburg, Russia, Saturday, Aug. 2, 2025. (AP Photo/Dmitri Lovetsky)

A boy jumps on a trampoline floating along the Moyka River at the annual costumed 'Fontanka' SUP-boards festival attracting more than 10,000 participants, in St. Petersburg, Russia, Saturday, Aug. 2, 2025. (AP Photo/Dmitri Lovetsky)

People steer their stand-up paddle (SUP) boards along Fontanka River during annual costumed 'Fontanka' SUP-boards festival attracted more than 10,000 participants, in St. Petersburg, Russia, Saturday, Aug. 2, 2025. (AP Photo/Dmitri Lovetsky)

People steer their stand-up paddle (SUP) boards along the Kriukov Channel at the annual costumed 'Fontanka' SUP-boards festival attracting more than 10,000 participants, in St. Petersburg, Russia, Saturday, Aug. 2, 2025. (AP Photo/Dmitri Lovetsky)

People steer their stand-up paddle (SUP) boards along the Kriukov Channel at the annual costumed 'Fontanka' SUP-boards festival attracting more than 10,000 participants, in St. Petersburg, Russia, Saturday, Aug. 2, 2025. (AP Photo/Dmitri Lovetsky)

SEOUL, South Korea--(BUSINESS WIRE)--May 8, 2026--

AIF Global ( www.aifglobal.org ) is pleased to announce that Dr. Samyoung (Sam Y.) Chung, Head of AIF APAC, the Asia-Pacific division of AIF Global, has been appointed as a Member of the Steering Committee for Korea Investment Corporation (KIC). The Steering Committee is composed of six private-sector members and three ex officio members.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260508443313/en/

The ex officio members include the Minister of Economy and Finance, the Governor of the Bank of Korea, and the CEO of KIC—representing institutions that have entrusted assets to KIC exceeding a threshold defined by Presidential Decree. Private-sector members are appointed by the President of the Republic of Korea upon the recommendation of the Private Member Nomination Committee.

This appointment marks a special commitment, as Dr. Chung becomes one of the few leaders to have served on the investment committees of South Korea’s three largest public funds: the National Pension Service (NPS), Korea Post, and now KIC.

“I am deeply honored by this appointment and the opportunity to serve KIC,” said Dr. Chung. “Having worked with the leadership at NPS and Korea Post, I recognize the immense responsibility of stewarding Korea’s national wealth. In my role as Head of AIF APAC, I hope to leverage this unique perspective to bring more collaborative opportunities among global large asset owners, fostering a stronger international investment ecosystem.”

The appointment follows AIF APAC’s successful Annual Investors Meeting in Seoul (April 7–8) and its Japanese Investing Symposium in Tokyo (April 10). Both events, organized and led by Dr. Chung, brought together senior executives from the world’s most influential asset owners, including the Government Pension Investment Fund (GPIF) of Japan and the National Pension Service (NPS) of Korea.

“AIF’s mission has always been to help the owners of the world’s largest pools of capital meet their investment objectives,” said AIF Founder and CEO Brant Maller. “Each year, the AIF APAC investor list grows longer and more impressive, and the participation more robust, which is a testament to Professor Chung’s status as a respected finance academic, outstanding reputation in the community, and experience and leadership on the investment advisory boards of NPS, Korea Post, and now KIC.”

Maller added, “The Korean investment community is dynamic and rapidly expanding. AIF is proud to be collaborating with its thought leaders as its influence grows in the global economic community.”

Dr. Chung joins the committee as KIC continues its trajectory as a globally leading sovereign wealth fund. By the end of 2025, KIC’s total assets under management (AUM) reached USD 232.0 billion. Adhering to a principle of diversification, the fund manages a portfolio consisting of 78.1% traditional assets and 21.9% alternative assets, including private equity, real estate, infrastructure, hedge funds, and private debt.

Dr. Chung has served as a member of the Special Committee on Investment Policy at NPS and the Insurance Division Investment Committee at Korea-Post. Academically, Dr. Chung had also served as a Finance Professor at Yonsei University and Long Island University. He received his M.S. and Ph.D. in Finance from Boston College and the University of Massachusetts-Amherst.

About AIF Global and the AIF Institute

AIF Global is an independent economic think tank with the mission of fostering the exchange of best ideas, practices, and information among the world’s largest asset owners to help them achieve their investment objectives. Since its inception, the AIF Institute has been a leader in providing customized education to institutional investors globally. https://aifglobal.org

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Dr. Samyoung (Sam Y.) Chung, AIF Head of APAC