CEO says currency risk, not government pressure, drives portfolio decisions
National Pension Service CEO Kim Sung-joo said Thursday the fund’s investment decisions are made “independently, without political interference,” as he sought to deflect criticism that the world’s third-largest pension fund has been used as a policy tool.
“Sharp currency swings are among the biggest risks to the fund,” Kim said at a press conference in Seoul, his first meeting with local reporters since taking office in December. “As a long-term investor, the NPS cannot avoid factoring in exchange rates and market fluctuations.
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