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South Korea's NPS Considers Dollar Bonds Amid Currency Scrutiny

12/9/2025

Summary

Story summary

The National Pension Service (NPS) of South Korea is reviewing options to raise dollars, issuing dollar bonds, according to the Welfare Ministry.
This comes amid scrutiny of NPS's impact on the domestic currency market and its role in pressuring the won.
Legislation would be required for offshore dollar bond issuance.
As the fund grows, diversifying foreign currency procurement becomes increasingly important.
The Finance Ministry has not commented on the matter.

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Story summary

The National Pension Service (NPS) of South Korea is reviewing options to raise dollars, issuing dollar bonds, according to the Welfare Ministry.
This comes amid scrutiny of NPS's impact on the domestic currency market and its role in pressuring the won.
Legislation would be required for offshore dollar bond issuance.
As the fund grows, diversifying foreign currency procurement becomes increasingly important.
The Finance Ministry has not commented on the matter.