(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Sangjin] The National Pension Service (NPS) has been steadily divesting its status as a major shareholder in leading companies, indicating a shift towards reducing its domestic equity exposure.

According to data received by Kim Mi-ae, a ruling party lawmaker on the National Assembly's Health and Welfare Committee, as of the end of the first half of this year, the NPS was the largest shareholder in only five domestic institutions: Hana Financial Group, KB Financial Group, Shinhan Financial Group, Naver, and POSCO Holdings. This marks a significant decrease from nine institutions in 2020 and 2021.

The composition of these major shareholders has also changed notably. In 2020 and 2021, the NPS was among the largest shareholders of several prominent manufacturing and IT companies in South Korea, holding approximately 11% of shares in firms such as POSCO Holdings, KT&G, KT, and Naver.

This trend began in 2022 when the NPS relinquished its major shareholder position in BNK Financial Group. In 2023, it sold its stake in KT&G, transferring its major shareholder status to IBK Industrial Bank. This year, following the change in major shareholders from DGB Financial Group to OK Savings Bank, KT has also seen the NPS step down from its top shareholder role.

The NPS has set a strategy to reduce its domestic stock investment and increase overseas investments. According to the medium-term asset allocation plan scheduled through 2028, the target allocation for domestic stock investments is set at 15.4% for this year, slightly lower than last year’s planned 15.9%.

 

 

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