State pension chief offers to step down before launch of Yoon administration

The chief of South Korea's state pension fund offered to step down, an informed source said Saturday, amid growing signs that more heads of public organizations appointed by the current liberal Moon Jae-in government may resign ahead of the inauguration of conservative President-elect Yoon Suk-yeol next month.

Kim Yong-jin, who leads the National Pension Service (NPS), the country's top institutional investor, delivered the intention to the health ministry, according to the source.

Kim declined to comment, saying there will be an opportunity to explain when his resignation is fixed. His three-year term is set to end in August 2023.

Pundits said Kim could face frictions with the incoming administration, which vowed to roll out major pension reforms.

Kim is set to become the first head of a public organization to step down following the launch of the presidential transition committee.

Source: Yonhap News Agency