The National Pension Plan plans to stop the domestic stock sale march. Although the National Pension Service sold 15 trillion won worth of domestic stocks this year in order to adjust its assets, it received strong criticism from individual investors called’Donghak ants’. If the National Pension Service no longer places orders to sell, it is expected to be of considerable help to the supply and demand of the stock market.
According to related ministries and the securities industry on the 24th, the National Pension Fund Management Committee will discuss an asset adjustment agenda related to the share of domestic stocks held on the 26th. The main content is to widen the target range of domestic stock holdings, which is currently 14.8~18.8%, to 13.3~20.3%. An official from the Fund Management Committee said, “Most of the members, including employers and worker representatives, as well as government members, agree.”
As of the end of last year, the assets under management of the national pension amounted to 83.3 trillion won, and domestic stock holdings were 17.6 trillion won (21.2%). As the stock price rose sharply last year, it exceeded the domestic stock target range of 18.8%. For this reason, it has sold 15 trillion won worth of stocks only this year, and it is also observed that it will sell an additional 15 trillion won to meet the middle of the target range of 16.8%.
The sale of the national pension has provoked a backlash from Donghak ants who are constantly buying domestic stocks. On the Cheongwadae National Petition Bulletin, there are a lot of articles asking for the national pension to be filled and forbidden to sell. As a result, it is reported that the National Pension Service felt a considerable burden. Some say that the government is pressing the national pension system ahead of the re-election next month.
Reporter Noh Gyeong-mok/Hwang Jung-hwan [email protected]
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