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Samsung, KB Asset Managers Open Jeonju Offices on July 8 After NPS Adds 1-Point Bonus for Local Facilities

GateNews
Stocks
According to Yonhap Infomax, Samsung Asset Management and KB Asset Management opened offices in Jeonju on July 8, as major Korean asset managers compete for selection advantages from the National Pension Service (NPS). NPS, which oversees 1,670 trillion Korean won in assets with 866 trillion won delegated to external managers, added a 1-point bonus in its criteria for selecting domestic stock and bond mandate managers if they maintain local facilities. The policy change has triggered a rush among financial groups, with Shinhan, Woori, Hana, and NH Financial also establishing or planning hubs in the region.
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