South Korea pension fund's assets fall by record 8.22% in 2022

SEOUL : South Korea's National Pension Service (NPS) said on Thursday it logged a record 8.22 per cent drop in assets in 2022 as global stock and bond markets tumbled.

The world's third-largest public pension fund said its total assets fell by 79.6 trillion won ($60.75 billion) in 2022 to 890.5 trillion won.

It was the first annual fall since 2018, when the fund's assets fell by 0.92 per cent, and the sharpest drop since its establishment in 1988.

By assets, local stocks and bonds fell by 22.76 per cent and 5.56 per cent, respectively, while overseas stocks and bonds each lost 12.34 per cent and 4.91 per cent. Alternative investments increased by 8.94 per cent.

($1 = 1,310.2200 won)