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Reform on Pension Fund Governance and Management: The 1998 Reform of Korea National Pension Fund


  • Woochan Kim

    (KDI School of Public Policy and Management)

  • Fiona Stewart



This paper provides a detailed chronological account of the governance-cum-management reform of National Pension Fund in Korea and analyzes its success factors, drawing lessons for other countries. A review of the current governance structures with the fund versus OECD guidelines and international good practice is also provided, along with suggestions for further reform.

Suggested Citation

  • Woochan Kim & Fiona Stewart, 2011. "Reform on Pension Fund Governance and Management: The 1998 Reform of Korea National Pension Fund," OECD Working Papers on Finance, Insurance and Private Pensions 7, OECD Publishing.
  • Handle: RePEc:oec:dafaad:7-en

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    governance; Korea; National Pension Fund; OECD; public pension reserve funds;

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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