SEOUL (Reuters) – South Korea’s National Pension Service (NPS) said on Thursday it logged a record 8.22% 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%, and the sharpest drop since its establishment in 1988.
By assets, local stocks and bonds fell by 22.76% and 5.56%, respectively, while overseas stocks and bonds each lost 12.34% and 4.91%. Alternative investments increased by 8.94%.
($1 = 1,310.2200 won)
(Reporting by Jihoon Lee; Editing by Muralikumar Anantharaman)