The country is set to increase the pool, appoint securities firms as lead fund managers and diversify fund management strategies.“We plan to increase the investment pool by including funds held by government-related organizations and promote competition by expanding lead fund managers to securities firms,” said Acting President and Minister of Economy and Finance Choi Sang-mok.“We will improve the management performance of the public fund investment pool and diversify management strategies to develop the capital market and strengthen fiscal soundness.”The move came as South Korea’s debt-to-gross domestic product (GDP) ratio rose to 47.4% last year from 41.1% in 2020.
South Korea said on Wednesday it aims to boost returns on 62.1 billion won ($42.7 billion) in the public fund investment pool by entrusting some of the money to securities firms to improve the fiscal conditions and capital market in Asia’s fourth-largest economy.
The government announced measures to reform the public fund investment pool system, in which private financial companies manage a pool of surplus funds from public institutions and pension funds.
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