South Korea's NPS loses $137 billion on Samsung, SK Hynix
Business
South Korea's National Pension Service (NPS) just took a massive $137 billion hit, mostly because its big bets on Samsung and SK Hynix didn't pay off.
The estimated value of NPS stakes of 5% or more in 287 listed companies dropped from 515.93 trillion won in June to 333.53 trillion won by mid-October, its first quarterly loss since the fourth quarter of 2024.
Critics question South Korea's NPS strategy
Around 72% of these losses came from Samsung and SK Hynix alone, showing just how much the NPS relies on tech giants.
Earlier this year, the fund was riding high with a 27.2% return, but now critics are questioning whether its strategy, especially putting so much into local stocks and pausing rebalancing, left it too exposed when markets turned rocky.