South Korea state pension fund opens Singapore office

Singapore

SOUTH Korea's National Pension Service (NPS), which manages about 496.2 trillion won (S$596.9 billion), officially opened its first Asian overseas office in Singapore on Thursday as it seeks to capitalise on the Republic's regional financial hub status and the concentration of alternative investment expertise here.

The state-run pension fund, ranked among the top 10 in the world by size, aims to diversify its portfolio by growing its foreign equity holdings and broadening its geographical reach from Europe and North America to the Asia-Pacific region, it told The Business Times.