NPS "Reviewing Internal Adjustments to FX Hedging and Domestic Equity Allocation"

The National Pension Service announced on January 15 that it is reviewing the possibility of adjusting its foreign exchange hedging or the proportion of its investments in the domestic stock market.

On the 15th, after starting lower, the KOSPI index turned upward and at one point surpassed the 4740 level, setting an intraday record high, as the domestic stock market index was displayed on the electronic board in the dealing room of Woori Bank headquarters in Jung-gu, Seoul. On the same day, the won-dollar exchange rate opened at 1465 won, down 12.5 won from the previous trading day. January 15, 2026 Photo by Kang Jinhyung

Jung Taegyu, Executive Director of the National Pension Service, stated at a briefing following a work report by agencies under the Ministry of Health and Welfare held at the Government Complex Sejong on the same day, "There are opinions such as 'the proportion of foreign exchange hedging should be increased due to the exchange rate' and 'the proportion of domestic stock investments should be raised.' When asked whether these issues are being discussed within the organization, he responded, 'We are internally reviewing and considering the matter.' However, he added, 'It is difficult for the National Pension Service to make a decision on its own, so the decision will be made through the Fund Management Committee and similar bodies.'

Regarding the government's discussion on the 'National Pension New Framework,' he said, "We will provide an explanation as soon as further details are confirmed," refraining from further comment. On the previous day, Deputy Prime Minister and Minister of Economy and Finance Koo Yooncheol stated, "We will accelerate the discussion on the National Pension New Framework to find an ideal solution that harmonizes pension profitability and stability in the foreign exchange market."