National Pension Service Chair Kim Seong-ju told asset managers that the transfer to Jeonju would be more than a simple obligation and would become a bigger business opportunity.
According to the service on the 13th, Kim held his first roundtable at 11 a.m. at the service headquarters in Jeonju, North Jeolla Province, with heads of major domestic and global asset management firms that opened Jeonju offices. It was the first official meeting in Jeonju with managers that had settled there since Kim took office.
Attendees included global asset managers such as Blackstone, PIMCO, Franklin Templeton, and BNY Mellon, as well as representatives and officials from nine domestic and foreign managers with regional offices in North Jeolla, including IGIS Asset Management and Koramco Asset Management.
Attending officials said that operating Jeonju offices had improved the efficiency of communication with the National Pension Service Fund Management Center, but assessed that tasks remain for practical settlement in the region.
At the meeting, Kim made clear his determination to achieve both balanced regional development and the creation of a financial ecosystem. He said, "The local transfer of public institutions is a key task to resolve the concentration in the capital area and achieve national balanced development," adding, "We will prove that it is a 'bigger business opportunity' for managers that transact with the National Pension Service to come down to Jeonju."
He added, "To build a financial ecosystem, we will work with local governments to improve transportation and living conditions and will actively review practical support measures, including reflecting regional contributions in the criteria for selecting external managers."