South Korea pension fund says it is not driving won down
South Korea’s national pension service, manageing the world’s third-largest pension fund, said on Thursday its rising overseas investment was not a main driver of the won’s recent weakening.
“The fund is applying a strategic FX hedging strategy when the foreign exchange rate stands above a certain level,” the National Pension Service said in a statement while responding to local media reports blaming it for the won’s fall.
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