South Korea's state pension fund operator will introduce a set of guidelines next year to promote its role as the nation's biggest institutional investor, the welfare minister said Friday.
Health and Welfare Minister Park Neung-hoo said it is a global trend to adopt the so-called stewardship code for state pension funds in order to protect their investment and boost their profitability over the mid and long term.
"Some 20 advanced nations, including the United States and Britain, have implemented the stewardship code," Park told a meeting of the Investment Management Office of the National Pension Service (NPS). "The NPS will be able to boost the long-term stability and profitability of its funds through the introduction of the code."
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