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Korea National Pension Service

National Pension Service (NPS) is a public pension
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Country

South Korea

AUM

$1,300

Performance (%, 1YR)

15.00

Chief Executive

Tae-Hyun Kim

Chief Investment Officer

Won-Joo Seo

Chair

Tae-Hyun Kim

Asset allocation
Allocation as at May 2026

35.2% Global Equity

29.4% Domestic Equity

15.7% Domestic Fixed Income

13.8% Global Fixed Income

5.8% Alternative Investment

0.2% Short-term Assets

0.1% Welfare Sector/Others

Website
View the annual report

Asset allocation as of December 31, 2024. All information is as per the most recent annual report or other publicly available data via the fund's website

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NPS raises hedging ratio as Korea’s capital outflows weigh on won

South Korean investors’ pursuit of offshore investments has become a significant source of won weakness and triggered a shift in hedging rules for the $1 trillion National Pension Service. With an overseas asset exposure greater than Korea’s national foreign reserves, NPS’ move demonstrates the scale of impact FX risks can have on portfolios.

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April 22, 2026

South Korea’s NPS pivots to sustainability, dials up risks in the portfolio

After smashing the return record again in 2024, South Korea’s state pension fund National Pension Service is gearing up to reduce coal investments to promote sustainability in the portfolio, and target riskier assets to ensure sustainability in funding.

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