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Pension Funds

CIO of South Korea’s NPS joins exodus of high-level fund staff

Kang Myoun-Wook is resigning as chief investment officer of South Korea's 578.2 trillion won ($489.7 billion) National Pension Service, an NPS spokesman confirmed.

It is unclear when Mr. Kang will leave, the spokesman said, declining to predict when a successor could be named. Mr. Kang didn't immediately respond to emails and phone calls seeking comment.

The past five years have seen NPS CEOs and CIOs come and go in rapid succession, but Mr. Kang's resignation comes amid an unusual amount of turnover at the division-head level for the giant, fast-growing pension fund. Earlier this year, NPS relocated to the Korean countryside — more than three hours from the capital of Seoul.