On the 15th, the National Pension Service placed Ahn, head of the real estate investment office under the fund management headquarters, on standby.

National Pension Service headquarters in Jeonju, North Jeolla Province./Courtesy of National Pension Service

According to the asset management industry on the day, the National Pension Service said it took a personnel action to place the head of the real estate investment office at the fund management headquarters on standby.

The head of the real estate investment office is responsible for domestic and overseas real estate investments. The National Pension Service's audit office is said to have launched an audit of Ahn and others.

The personnel action comes amid market speculation that it was prompted by decisions including replacing the general partner (GP) managing Yeoksam Centerfield in Gangnam, Seoul, and moving to sell the asset.

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