PIMCO, National Pension Service's Entrusted Asset Manager, Opens Liaison Office in Jeonju

Global bond specialist asset management firm PIMCO, which manages the National Pension Service's overseas bonds and overseas real estate entrusted assets, has opened a liaison office in Jeonju, Jeollabuk-do, the National Pension Service announced on the 2nd.

On the 2nd, the opening ceremony of PIMCO's Jeonju liaison office, a delegated asset manager of the National Pension Service, is taking place. Photo by National Pension Service

Kim Tae-hyun, Chairman of the National Pension Service, attended the opening ceremony of the PIMCO Jeonju liaison office held in Manseong-dong, Jeonju on the same day. From PIMCO, Alec Kusman, Asia Pacific Head, and Park Jung, Korea Head, among others, attended. This is the first time PIMCO has opened an office in Korea.

With a history of 54 years, PIMCO manages approximately 2 trillion dollars (about 2,900 trillion won) in assets as of the end of 2024, and more than 3,000 experts operate from 24 global offices. It is a world-renowned active asset management firm specializing in public and private bonds. Since 2005, it has been entrusted with managing investment assets of the National Pension Service.

Through the Jeonju liaison office, PIMCO plans to strengthen partnerships with Korean clients including the National Pension Service and provide market insights and strategic support on global trends.

Chairman Kim said, “It is very meaningful that the first office PIMCO, a global bond management firm, opened in Korea is in Jeonju, where the Fund Management Headquarters is located,” adding, “This is evidence of the nearly 20-year continuous partnership between the National Pension Service and PIMCO and will serve as an opportunity to create more frequent collaboration in the future.”

Meanwhile, global custodian banks that have previously established bases in Jeonju for collaboration with the National Pension Service include State Street Bank (SSBT) and BNY Mellon Bank. Asset management firms include Franklin Templeton, BNY Mellon Asset Management Group, Blackstone, Hines, and Tishman Speyer, totaling seven companies.