Korea’s NPS Plans to Open Foreign Currency Account

korea_sKorea’s National Pension Service (KNPS) plans to make a foreign currency account to enhance management of their burgeoning overseas investments. After several key-level governmental meetings, the Korean national pension investor is branching out of domestic investments. The KNPS has major exposure to the Korean capital markets. From the end of 2012, 64.1 trillion won are held overseas in foreign assets.

According to the Korean Ministry of Health & Welfare, the KNPS plans to use the foreign currency account in 2014 after selecting a financial institution that will hold the funds.

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