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The decline in the value of holdings in stocks such as Samsung Electronics Co., Ltd. (SSNLF) and SK hynix (SKHY) has caused the market value of South Korea's major pension fund's holdings to shrink by 182 trillion won ($137 billion).
According to financial data provider FnGuide, as of October 15, the valuation of the National Pension Service's holdings of 5% or more in 287 listed companies fell from 515.93 trillion won at the end of June to 333.53 trillion won. Based on the National Pension Service's past performance, this is the first quarterly decline since the fourth quarter of 2024, and it also marks a sharp reversal for the fund, which had achieved record returns in the first half of the year.
This reversal highlights that one of the world's largest pension funds is vulnerable to fluctuations in South Korea's domestic market. The National Pension Service holds massive stakes in chipmakers Samsung Electronics Co., Ltd. (SSNLF) and SK hynix (SKHY), making it particularly susceptible to the boom-and-bust cycles of technology stocks.
This decline stands in stark contrast to the National Pension Service's performance in the first half of the year. At that time, the fund's return rate reached 27.2%, the best performance for the same period since at least 2022. As of the end of June, the National Pension Service's assets under management stood at 1,866 trillion won ($1.35 trillion). The National Pension Service could not be reached immediately for comment.
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