SEOUL, Aug. 20 (Korea Bizwire) — The South Korean government is considering a major overhaul of how it grants pension credits for childbirth and military service, moving from a system of post-retirement adjustments to upfront support — a change that could save nearly 88 trillion won ($65 billion) in state finances over the long term, [...]
SEOUL, July 16 (Korea Bizwire) — A new study has revealed that the trading strategies of South Korea’s National Pension Service (NPS), which oversees more than 1,000 trillion won ($730 billion) in assets, can significantly affect market volatility and transaction costs—particularly when investments are outsourced to external managers. According to a report released Tuesday by [...]
SEOUL, June 25 (Korea Bizwire) — More than 8.47 million South Koreans—including freelancers, gig workers, and platform laborers—now make up a major portion of the labor market, yet remain largely excluded from the country’s national pension system, a new government report has found. The Korea Institute for Health and Social Affairs (KIHASA) released a report [...]
SEOUL, May 28 (Korea Bizwire) — South Korea’s state pension fund said Friday it will stop funding new coal power projects at home and abroad to join the global transition from fossil fuels and pursue a responsible investment strategy. The National Pension Service (NPS)’s fund management committee approved the plan to limit investment in companies [...]
SEOUL, Sept. 14 (Korea Bizwire) — The corporate value of more than 6 out of 10 firms in which South Korea’s state pension operator invests has risen since its introduction of the so-called stewardship code in late July, a report said Friday. The National Pension Service (NPS) adopted the stewardship code on July 30, which [...]
SEOUL, Sept. 4 (Korea Bizwire) – What do insurance planners, delivery workers, golf caddies, home-school teachers, and designated drivers have in common in Korea? The answer is that they are subscribed as “individual contributors” to the national pension plan. This may change, however, says National Pension Service (NPS) and Ministry of Health and Welfare (MOHW). The [...]
SEOUL, Aug. 2 (Korea Bizwire) — South Korea’s national pension could run out of money by 2056 or 2057 if current financial conditions continue, three to four years earlier than previously projected by the government, official sources said Thursday. The government conducts reviews on the financial soundness of the National Pension Service (NPS) every five [...]
SEOUL, June 28 (Korea Bizwire) – The percentage of elderly South Koreans receiving public or private pensions stood at 30 percent in 2016, a government report showed Wednesday. The report by the Board of Audit and Inspection (BAI), which analyzed data by the NPS and private insurance companies, showed many people remaining unprotected by the [...]
SEOUL, April 13 (Korea Bizwire) – The state-run main creditor of Daewoo Shipbuilding & Marine Engineering Co. said Thursday it is willing to negotiate with the state pension fund on the ailing shipbuilder’s debt rescheduling measures. The remarks by Korea Development Bank (KDB) CEO Lee Dong-geol came as the National Pension Service (NPS) is set [...]
SEOUL, July 20 (Korea Bizwire) — The value of Samsung Group shares owned by South Korea’s state pension fund jumped to 24.2 trillion won (US$21.2 billion) in the first half of the year, reaching a quarter of its total investment in the local stock market, data showed Wednesday. The National Pension Service (NPS), which manages [...]