"Since When Did Analysts Become Fortune Tellers?" NPS Chief Dismisses '74 Trillion Won Sell-off' Rumors

The chairman of the National Pension Service (NPS) has personally stepped in to address concerns over a potential "selling bomb" as the pension fund resumes rebalancing its domestic stock holdings starting this month.

Kim Sung-joo, Chairman and CEO of the National Pension Service, stated on social media, "There are forces that thrive by taking advantage of market volatility," adding, "Even as the NPS begins rebalancing, the possibility of it becoming a 'bomb' is zero."

Chairman Kim refuted the securities industry's analysis that the NPS could sell up to 74 trillion won worth of domestic stocks, calling the figure incorrect and absurd.

He directly criticized the claims, saying, "I wonder since when analysts started acting like fortune tellers."

Chairman Kim emphasized that rebalancing does not necessarily mean an immediate large-scale sell-off.

He explained that the Fund Management Committee decided last May to adjust assets over a long period, meaning there will not be a massive sell-off in a short timeframe.

He also urged the public not to be swayed by excessive fear-mongering regarding a "selling bomb," noting that the NPS is not an institution that immediately sells to realize profits when prices rise or buys instantly when they fall.

Previously, the NPS had temporarily suspended the mechanical selling of assets, including domestic stocks, that exceeded their target allocation until last month, and resumed rebalancing starting this month.

In response, analysts in the securities industry suggested that 60 to 70 trillion won in excess domestic stock holdings could be dumped into the market, fueling growing concerns over a large-scale sell-off triggered by the NPS.

Reported by Jung Da-eun | Video by Lee Ui-seon | Graphics by Yook Do-hyun | Produced by SBS Digital News
※ Please note: This article was translated by AI and may contain errors.