NPS, Celebrating 38th Anniversary, Pledges to Ramp Up Public Trust

Chairman & CEO Kim Tae-hyun of the National Pension Service delivers a commemorative speech at a ceremony to mark the 38th anniversary at NPS headquarters in Jeonju City on Sept. 18.

The National Pension Service (NPS) held a ceremony to mark its 38th anniversary at NPS headquarters in Jeonju City on Sept. 18 and vowed to strengthen public trust.

Looking back the past 38 years, NPS Chairman & CEO Kim Tae-hyun said, “NPS, going beyond pension management and operation, has evolved into a comprehensive welfare service provide for the elderly, the handicapped and basic living livelihood recipients and a major global pension fund with 1,200 trillion won in assets under management.”

NPS posted a fund management return rate of 15 percent and rated at the top grade in customer satisfaction. The service has also reaped meaningful fruits, like the obtaining of an A grade in a management evaluation of public entities.

As for achievements, NPS Chmn. Kim said, “I extend thanks to executives and staff members for making their utmost at their positions, and it is important to bring about changes and development to meet people’s expectations.”

To this end, Chmn. Kim suggested NPS’s core tasks, such as executing of fund reform without interruption, providing high-quality pension services, raising the fund management return rate through investment diversification, and strengthening public interests and efficiency through digital-based management innovation and fair management.

“When it comes to managing people’s precious assets, trust is essential, and I urge all staff to be trustworthy,” he said.

Chmn. Kim stressed all staff members’ gathering of capabilities and wisdoms, and cooperating to be reborn as a trusted institution.

NPS Inaugurates ‘AI Innovation Group’

The National Pension Service said on Sept. 18 that it launched the AI Innovation Group to comply with the government’s goal of becoming a global top-three AI powerhouse.

The group consists of four subdivisions – pension/welfare, fund management, organization operations and systems.

On Sept. 15, the AI Innovation Group held the inaugural standing committee meeting and diagnosed NPS’s data and infrastructure conditions while examining AI use and application possibilities in all business areas.

The group plans to regularize committee meetings and spearhead AI-oriented innovation.

Executive Auditor Ryu Ji-young of the National Pension Service and Executive Auditor Kim Jwa-yeol of Korea District Heating Corp. Participate in a ceremony to sign an MOU on AI-based digital audit and building of an ESG-based auditing system at NPS headquarters in Jeonju on Sept. 23. (Photos: NPS)

NPS Strikes Audit MOU with Korea District Heating Corp.

The National Pension Service signed an MOU on AI-based digital auditing and building an ESG-based auditing system with Korea District Heating Corp. at NPS headquarters in Jeonju on Sept. 23.

The agreement is designed to introduce AI and digital technology into auditing, departing from conventional auditing based on the abiding of regulations and promoting cooperation in building a new auditing system from an ESG perspective.

The deal calls for making mutual efforts to develop AI-based auditing techniques, jointly developing audit standards from the ESG perspective and related procedures, and exchanging information to raise auditors’ expertise and capabilities.

On April 30, NPS made efforts to apply AI technology in the auditing sector and ramping up expertise by striking an MOU with Korea Airport Security Corp.

NPS Executive Auditor Rhu Ji-young said, “The agreement is a starting point in accelerating digital transformation in public auditing and promoting audit innovation to reflect social values, such as ESG, and both institutions will move toward together to become a trusted and reliable public entity through close cooperation in auditing.”