The National Pension Service (NPS) said on the 7th that it selected Woori Bank as the preferred bidder for the foreign currency vault bank that handles the fund's foreign exchange transaction cash management and foreign currency management account services.
After the bid notice for selecting the foreign currency vault bank on Mar. was issued, the National Pension Service decided on Woori Bank as the No. 1 preferred negotiating partner through proposal submission and evaluation.
This selection of the foreign currency vault bank was conducted for the first time in five years since 2021, and to encourage applications from capable domestic banks, the eligibility criteria were eased by relaxing the limit on the number of business areas under the same financial holding company and by holding a briefing session.
The service plans to sign a final contract in June after on-site due diligence and technical negotiations with the preferred bidder, and once selected, it will carry out the fund's foreign exchange transaction-related cash management, as well as the opening and closing of foreign currency accounts.
As of the end of Feb. 2026, the National Pension Service's fund reserves totaled 1,610 trillion won, of which 886 trillion won, or about 55%, were overseas assets.
Kim Sung-joo, chairman of the National Pension Service (NPS), said, "As the fund's overseas investments have grown, stable foreign exchange transactions are very important," and added, "We will successfully finalize the selection of the foreign currency vault bank so that the fund's foreign currency transactions and cash management proceed smoothly."