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South Korea names ex-vice finance minister to head state-run pension fund

SEOUL (Reuters) - South Korea on Monday appointed Kim Yong-jin as chairman of the state-run pension fund, National Pension Service (NPS), the Ministry of Health and Welfare said in its statement.

Kim, 58, served at the Ministry of Economy and Finance in various positions for around 30 years and had served as the country’s second Vice Finance Minister between June 2017 to December 2018.

His term begins on Monday and lasts for three years to end on Aug. 30, 2023.

The position has been vacant since the former chairman Kim Sung-joo stepped down in early January this year to run in the April general election.

NPS is the world’s third-largest pension fund, with 752.2 trillion won ($637.64 billion) in assets as of end of June, according to its website.

Reporting by Joori Roh; Editing by Himani Sarkar and Stephen Coates

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