S. Korea's pension fund lowers profit target due to economic downturn

SEOUL, May 29 (Yonhap) -- South Korea's national pension fund said Friday that it
has lowered its investment target profit rate for the next five years, reflecting
the latest sluggish economic and market conditions.

The National Pension Service (NPS) said that it set its profit target until 2014
at 6.5 percent, down 1.5 percentage points from an earlier objective.
The downgrade comes as the fund said that it reflected downside risks posed by a
global economic slump and unstable financial market conditions.
The NPS is the nation's largest institutional investor, with holdings amounting
to more than 235.5 trillion won (US$187 billion), which it expects will increase
to 432 trillion won by the cited year.
kokobj@yna.co.kr
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