Na Kyung-won: “One Word From the President and the National Pension's Asset Allocation Gets Rewritten — Release the Minutes” (January 27, 2026)

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Rep. Na wrote on Facebook that day, “I hear that minutes the National Pension normally discloses after one year have been kept confidential until 2030 — four years later.

The public has no way of knowing how the decision was made on how to manage the people's 1,500 trillion won in retirement funds, or what discussions took place,” she wrote.

She said, “The National Pension raised its domestic equity target weight from 14.4% to 14.9% — that is, by 0.5 percentage points,” and

analyzed that “it sold overseas equities to release dollars into the market and used that money to buy domestic equities, aiming for the short-term effects of 'defending the exchange rate' and 'propping up stock prices.'”

Rep. Na said, “'0.5 percentage points' is by no means a small number. It is a decision that redirects roughly 10 trillion won in capital flows,” and

“a properly functioning Fund Management Committee would, even to revise it by just 0.1 percentage points, simulate the long-term returns and volatility of domestic and overseas markets, macroeconomic variables such as the exchange rate, prices, and growth rate, and the impact on intergenerational equity and the timing of fund depletion, over a horizon of years or even decades, and consider even worst-case scenarios — only then would it carefully adjust even 0.1 percentage points,” she pointed out.

She added, “because the damage is passed on entirely to the public and to future generations.”

As for why the National Pension made this decision,

she said, “It means: defend the exchange rate and prop up the stock market with the people's money only for the duration of the Lee Jae-myung administration, then let it be opened only after everyone who would be held responsible has left once the term is over,” and

“if their decision was made for the public and they have nothing to be ashamed of, there is no reason they cannot disclose it right away,” she pointed out.

Rep. Na said, “The decision to keep the minutes confidential for four years must be withdrawn immediately, and the minutes must be disclosed transparently.

And the independence of fund management must be guaranteed,” and

“The people's retirement funds must not be used for exchange-rate defense or stock-market propping-up, or any other such policy tool. How do they intend to bear the consequences?” she countered.

https://n.news.naver.com/article/011/0004583644?sid=100