Lee Asks About the “Propping Up Share Prices for the Local Elections” Rumor… the National Pension: “Absolutely Not” (2026.07.16.)

(How many people

will be able to accept the content of the article below,

and of the exchange it reports!

Since December of last year the Pension Future Forum has said

that the National Pension must not be used as a means of defending the exchange rate,

and again,

that rebalancing should have been carried out from January of this year;

alongside issuing statements

it also held seminars.

At the end of May, just before the local elections,

when the twofold leverage products on Samsung Electronics and Hynix

that are now causing such trouble were about to be approved,

we raised the issue at that time as well!)

On the 16th, President Lee Jae-myung received a report that the rumor of “the National Pension propping up share prices,” which had surfaced at the time of the local elections, was untrue.

At the government policy briefing held that day at the Guest House of Cheong Wa Dae, President Lee asked, “There is a rumor that domestic shares were bought up indiscriminately because of the local elections, driving share prices up.”

Kim Sung-joo, Chairman of the National Pension Service, who was present, replied immediately, “That is not the case at all.”

President Lee also asked, “Did you actually buy domestic shares before the election?” and “Was it not rather a situation in which the valuation of shares already held had risen and they should have been sold?”

Chairman Kim explained, “We did not buy or sell in any particular way; we held what we had, and as the KOSPI index rose the valuation increased.”

Chairman Kim went on to lament, “When we hold, people ask why we do not sell; when we try to sell, they ask why we are selling,” adding, “We have to generate good returns and give them back to the public as pensions, but with public attention concentrated on us there are difficulties in managing the fund.”

President Lee joked, “I even wondered whether the National Pension Service had bought (shares) to push prices up without my knowing,” and “there are many people vowing to settle scores with me later.”

Chairman Kim then said, “Both you, Mr. President, and I are taking a great deal of abuse,” at which President Lee laughed.

https://n.news.naver.com/article/277/0005791173?sid=100