NPS continues to reduce stock market exposureKorea’s state pension service has reduced its investment in stocks in local companies this year amid the tepid market, industry data showed Sunday.
The National Pension Service’s stakes in its 30 stock investment destinations were estimated at 70.11 trillion won ($60.21 billion) as of Nov. 8, dropping 16.2 percent from the end of 2017, according to the data provided by corporate tracker Chaebul.com.
Among them, the NPS reduced its stakes in 13 companies this year, which include Samsung Electronics, SK Hynix, Hyundai Mobis, LG Chem, Naver and Posco.
In contrast, its stakes in eight Korean companies increased over the period, including LG Household & Healthcare, Amorepacific, KT, SK Telecom and the Korea Electric Power Corporation.
Its stakes in nine others stayed the same over the period, the latest data showed. Yonhap