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The National Pension Service, the country’s pension fund operator, said Tuesday that its assets reached more than 400 trillion won ($368 billion).
This accounts for about one-third of Korea’s gross domestic product and is worth almost double the market cap of Samsung Electronics, the largest listed company on the stock exchange, it noted.
It is also more than eight times the sum of Hyundai Motor’s total market value, and the pension fund operator could afford to acquire about an 88 percent stake in Apple, creator of the iPhone and iPod.
The NPS hit 400 trillion won in assets two years and seven months after passing the 300 trillion won mark in July 2010.
The Korean pension fund is the world’s fourth largest following Japan’s GPIF, Norway’s GPFG and the Netherlands’ ABP.
The NPS achieved returns of about 7 percent on its domestic investments, and 8 percent on overseas investments, it said.
The Korean pension service has been increasing its investment in riskier assets such as stocks, while lessening its fixed-income or safe-haven portfolio to gain higher returns as the number of pension beneficiaries is set to grow further amid a rapidly aging population.
It has widened its portfolio to alternative assets such as real estate and infrastructure, while being a major shareholder at more than 100 listed companies in Korea, including Samsung Electronics and Hyundai Motor.
By Park Hyong-ki (hkp@heraldcorp.com)
This accounts for about one-third of Korea’s gross domestic product and is worth almost double the market cap of Samsung Electronics, the largest listed company on the stock exchange, it noted.
It is also more than eight times the sum of Hyundai Motor’s total market value, and the pension fund operator could afford to acquire about an 88 percent stake in Apple, creator of the iPhone and iPod.
The NPS hit 400 trillion won in assets two years and seven months after passing the 300 trillion won mark in July 2010.
The Korean pension fund is the world’s fourth largest following Japan’s GPIF, Norway’s GPFG and the Netherlands’ ABP.
The NPS achieved returns of about 7 percent on its domestic investments, and 8 percent on overseas investments, it said.
The Korean pension service has been increasing its investment in riskier assets such as stocks, while lessening its fixed-income or safe-haven portfolio to gain higher returns as the number of pension beneficiaries is set to grow further amid a rapidly aging population.
It has widened its portfolio to alternative assets such as real estate and infrastructure, while being a major shareholder at more than 100 listed companies in Korea, including Samsung Electronics and Hyundai Motor.
By Park Hyong-ki (hkp@heraldcorp.com)
