The National Pension Service fund has for the first time invested more than half of its total assets in stocks. It is seen as a shift to an aggressive investment strategy to delay the point at which the fund is depleted.
On the 3rd, data on the National Pension Service fund's management status as of the end of June this year showed that of the 1,269.1355 trillion won in reserves, 635.5734 trillion won was invested in stocks (domestic and overseas). That accounts for 50.1% of total assets. This is the first time in the history of the National Pension Service fund that the stock share has exceeded 50%.
At the end of 2015, 10 years ago, the National Pension Service's asset mix had bonds at more than half at 56.6%, while stocks were only 32.2%.
However, in 10 years, as of June 2025, the bond share fell to 33.0%, and stocks took that place.
It can be interpreted that the National Pension Service reduced the share of "safe savings and time deposits (bonds)" and sharply increased the share of "risky but high-return funds (stocks)."
The biggest reason for this shift is cited as the "rate of return." With low birthrates and an aging population, the number of people receiving pensions is increasing while the number of people paying premiums is decreasing, raising concerns about the fund being depleted.
A closer look at the stock investment mix shows the overseas share is far higher than domestic. Of the total stock share of 50.1%, domestic stocks are 14.9% (189 trillion won), while overseas stocks are 35.2% (446 trillion won), more than double.
This is interpreted as a strategy to diversify investments into overseas markets to reduce risks that can arise when Korea's economy wobbles.
The National Pension Service's moves are drawing attention in international financial markets as well. The investment direction of the "super whale," with more than 1,200 trillion won, is bound to have a major impact on the New York and London stock markets.