South Korea’s national pension service is planning to create a foreign-currency account to better manage its growing overseas investment, according to Reuters.
The National Pension Service will likely start using a foreign-currency account in 2014 after selecting a bank that will hold the funds and establishing related internal system to utilise such an account, teh publication reported quoting a statement by the country’s welfare ministry.
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At the end of last year, the fund reportedly had KRW64.1 trillion ($55.19 billion) worth of fund, and its total assets valued at KRW392 trillion, which comprise a mix of foreign assets, including bonds, stocks and real estate.
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