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S. Korea's state pension fund posts worst return in 2022

SEOUL
2023-03-02 15:29

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SEOUL, March 2 (Xinhua) -- South Korea's state pension fund posted its worst return last year owing to lower stock and bond prices both at home and abroad, the Ministry of Health and Welfare said on Thursday.

The national pension fund's return rate stood at minus 8.22 percent in 2022, marking the lowest since it was adopted here in 1988.

The management loss of the fund came to 79.6 trillion won (60.6 billion U.S. dollars) last year.

The fund's assets under management totaled 890.5 trillion won (677.4 billion U.S. dollars) at the end of 2022.

The ministry noted that both stock and bond prices fell last year as the investment environment rapidly deteriorated, resulting in a negative return on the pension fund.

It vowed to make efforts for the improved long-term return on the fund, for which a stable operation through long-term investment is important, saying the ministry will consider expanding overseas and alternative investments with relatively good returns.
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