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National Pension Service Makes Poor Stock Investments
Flimsy Money Management
National Pension Service Makes Poor Stock Investments
  • By matthew
  • October 6, 2014, 06:16
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The National Pension Service lost 1.6 trillion won (US$1.49 billion) in 2014 alone through investment in the stocks of the listed subsidiaries of the 10 major business groups. The total investment amount decreased from 48.2 trillion won (US$45.1 billion) to 46.6 trillion won (US$43.6 billion) between Sept. 2013 and Sept. 2014. 

The National Pension Service increased its Samsung Electronics share ratio from 7.70 percent to 7.81 percent between the end of last year and the end of Sept. 2014. The appraised value dropped from 15.548 trillion won (US$14.546 billion) to 13.6267 trillion won (US$12.7486 billion) during the period. 

The value of its shares in the three subsidiaries of the Hyundai Heavy Industries Group fell by 760.1 billion won (US$709.9 million) to 803.5 billion won (US$750.5 million), too. Although it raised its Hyundai Motor Company share ratio by 0.42 percentage points this year, the appraised value dropped by 596.9 billion won (US$557.7 million) to 3.3633 trillion won (US$3.147 billion) during the last nine months. 

In contrast, it recorded some profits in its investment in the SK and LG Groups. The value of its shares in the former increased from 5.7397 trillion won (US$5.3698 billion) to 6.4449 trillion won (US$6.0197 billion), and that in the latter jumped from 4.8019 trillion won (US$4.4868 billion) to 5.3869 trillion won (US$5.0334 billion).