“A 74 Trillion Won Selling Bomb Is Coming?”… the 1,670 Trillion Won National Pension Reveals the “Facts” [The Truth Behind the Numbers] (2026.07.24.)

(The following is the Pension Future Forum’s position statement on the article below!)

(Why!

has Kim Sung-joo,

Chairman of the National Pension Service,

from the moment of taking office

appeared in the media

so very often,

throwing the market into confusion!

Right now

the National Pension Service

is answering questions that were never asked!

What the market,

and

the public, take issue with

is that the National Pension, a colossal fund,

has failed to keep

the very principles

it plainly ought to have kept!

Until the present Chairman Kim Sung-joo

took office as chairman of the National Pension

Service,

(as far as the Pension Future Forum can ascertain)

such things never once occurred;

now they are occurring repeatedly, and that is why

the issue is being raised.

No one ever asked for shares to be bought or sold —

neither the public,

nor,

for that matter, the insured of the National Pension;

no such request ever came from them first!

An unscheduled

meeting of the Fund Management Committee was convened, and

further,

through follow-up meetings and the like —

(and even)

by sealing the minutes

for four years —

during the surge in the KOSPI index,

the allocation to domestic equity investment

was widened in order to increase

that allocation further;

and as a result,

unlike foreign institutional

investors,

the principle that any giant institutional investor

plainly ought to have observed —

the rebalancing principle —

was not observed.

It is precisely that point

which is being pointed out, nothing more!)

When the KOSPI rises, they say do not sell shares. When it falls, they demand that the index be propped up. Every time the market lurches, investors’ eyes turn to the National Pension, which runs a fund of more than 1,670 trillion won.

As the National Pension is repeatedly summoned as both the cause of and the solution to the market’s swings, the head of the fund has drawn a line in person.
 
According to the financial investment industry on the 24th, Kim Sung-joo, Chairman of the National Pension Service, posted an article on Facebook on the 22nd titled “Everything Comes Back to… the National Pension?”, stating that “the National Pension’s investment is not for propping up the stock market or defending share prices.”
 
The chairman stressed that “nor is it investment aimed at serving as a ‘market stabilizer’ or an ‘amplifier,’” adding that “the role of the National Pension is not to move the market but to generate long-term returns for the public’s old age.”
 
On the 23rd Chairman Kim posted a follow-up as well, again emphasizing the six principles of National Pension fund management: profitability, stability, public purpose, liquidity, sustainability and independence of management.
 
The chairman stated, “The National Pension must not be asked to serve as a ‘stabilizer’ or a ‘counterweight’ for the stock market according to its ups and downs, nor should it be judged to have played the role of an ‘amplifier,’” and that “the role of the National Pension is not to move the market but to generate long-term returns for the public’s old age.”
 
This is the third time this month that Chairman Kim has publicly stated a position on the controversy surrounding the National Pension’s management of domestic equities.
 
Earlier, on the 1st, in a post titled “The Truth About National Pension Rebalancing and the 74 Trillion Won Selling Bomb,” the chairman rebutted that “I do not know how the 74 trillion won figure raised in some quarters was calculated, but it is a preposterous number,” and also said that “even if the National Pension begins rebalancing, the chance of its becoming a ‘bomb’ is zero.”
 
The explanation is that the National Pension is not an institution that buys and sells domestic equities all at once merely on the basis of the KOSPI’s movements.

https://n.news.naver.com/article/022/0004145486?cds=news_edit