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South Korea's national pension fund operator said Thursday it is moving to employ dozens of new investment managers following a recent staff exodus.
Late last year, the Investment Management Office of the National Pension Service saw some 30 staffers quit ahead of its relocation to Jeonju, 243 kilometers south of Seoul. In addition, 11 investment managers have left or offered to resign.
The NPS said it will recruit nearly 30 experts in such areas as domestic and overseas securities investment, alternative investment, risk management, management strategy and management support. The hiring process is slated to be completed in May.
The addition of new employees would raise the office's headcount to 334, with the number of investment managers standing at 275.
The state pension operator said Tuesday it will push ahead with measures to better compensate investment managers and improve their working conditions in order to prevent more from leaving.
The NPS is the world's third-largest pension operator with assets of 558.3 trillion won ($489 billion) under its management as of end-2016. The pension fund's investment return reached 4.75 percent last year, up from 4.57 percent a year earlier. (Yonhap)
