Earnest Overseas Investment
The National Pension Service is opening the 3rd overseas office in Singapore this year, hiring foreign fund managers and making overseas investments in earnest.
The National Pension Service will open a head office in Singapore for the 3rd time, following New York and London. This office will be the first Asian office.
Also, it will include 4 foreigners in its staff of 65 professionals in the first quarter of this year, which will be the first time foreign nationals have worked for the company since it was founded in 1988. Two foreign fund managers will be assigned to the New York and the London offices each, playing crucial roles in global investment.
An official from the National Pension Service said, “In existing offices, employees engaged in only basic data investigation, including information gathering. However, we will hire experts and specialize in the future, based on alternative investments such as real estate and funds.”
The National Pension Service is planning to increase the share of overseas investment from 20 percent last year to more than 25 percent in 2019. It started its foreign investment with 100 billion won (US$91.03 million), 0.1 percent of the total funds, in 2001, and has consistently expanded the investment scale. As of late June last year, the National Pension Service invested 90.5 trillion won (US$82.39 billion), 20.4 percent of its total funds, in overseas markets.