July 17, 2017 / 11:37 AM / a month ago

South Korea pension fund's CIO resigns

SEOUL, July 17 (Reuters) - South Korea's National Pension Service (NPS), the world's third-largest pension fund, said on Monday its Chief Investment Officer (CIO) Kang Myoun-wook has tendered his resignation.

NPS, which had 578.2 trillion won ($513.6 billion) under management as of April, said in a statement the resignation would be accepted and process begun to name a new CIO.

Kang, who had begun his tenure as CIO in February 2016 during the last administration, had seven months left in his two-year term.

The NPS declined to comment further. Kang could not be immediately reached for comment. ($1 = 1,125.8100 won) (Reporting by Joyce Lee, editing by David Evans)

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