S. Korea's pension fund to diversify into new investments

SEOUL, Dec. 2 (Yonhap) -- The state-run pension fund National Pension Service
(NPS) will push to discover new investment opportunities and diversify its
investments to fight global financial uncertainties, the fund's new chief
executive said Wednesday.

"The NPS will make every effort to generate stable returns amid a fast-changing
global financial environment by locating new investment targets and diversifying
its investments," incoming chief executive officer Jun Kwang-woo said in his
inauguration speech.
Jun, a former chairman of the Financial Services Commission, said its investment
plan will fit the fund's status as the world's fifth-largest institutional
investor with 270 trillion won (US$234 billion) in assets.
The new chief of the NPS succeeded the previous CEO Park Hae-choon who resigned
over investment losses at a state-run bank he had headed.
The financial regulator Financial Services Commission gave a disciplinary warning
to Park in September for incurring losses on derivative investments at Woori Bank
while he was the CEO of the nation's second-biggest lender from 2007 to 2008.
pbr@yna.co.kr
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