Grand Hyatt Hotel, Seoul
18 October 2013
Chairman and CEO of the National Pension Service (NPS) of Korea Mr. Kwang Choi and Global Private Market Investment Head and Managing Director Yoon-pyo Lee expressed their interest to make the Philippines a long-term investment venue during a meeting with President Benigno S. Aquino III at the Grand Hyatt Hotel in Seoul.
According to Mr. Choi, their investment in other countries right now is not very big so they want to go out and look for potential partnerships. They noted that there is a close match between the Philippines’ need for new infrastructure and NPS’ long-term investment profile.
President Aquino then directed Finance Secretary Cesar Purisima to serve as the point person in the government’s bid for the Philippines to be chosen as a preferred investment venue for the NPS.
Established under the National Pension Act in January 1988, Korea’s National Pension Service (NPS) is the 3rd largest pension fund in the world, with an asset of USD400 Billion. Around 20 Million Koreans or 40% of the country’s total population are its major contributors.
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