Korea’s NPS Surpasses $530 Billion, Now Needs a Permanent CIO
Posted on 07/24/2017
South Korea’s Ministry of Health and Welfare revealed that funds managed by the National Pension Service (NPS) touched 601 trillion KRW (US$ 533 billion) as of July 24, 2017. Part of the growth can be attributed to the recent returns of the fund investor. Despite the good news in growing assets, the system’s chief investment officer Kang Myun-Wook had resigned earlier in the month. [private_standard]He left seven months before his 2-year term was to expire. Kang Myun-Wook cited his departure was for personal reasons.
In-Sik Cho, NPS’ Head of Public Markets, has taken over as interim CIO until a replacement can be found.
Keywords: National Pension Service of Korea (KNPS).
