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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] Seoul, Sept. 2 — South Korea’s National Pension Service (NPS) rebalanced its equity portfolio in August, reducing its stakes in companies whose share prices have surged in recent months, while expanding investments in select growth sectors such as food and defense.
According to filings disclosed through the Financial Supervisory Service’s electronic disclosure system, NPS sold approximately 500,000 shares of HD Hyundai Mipo Dockyard (down 1.26 percentage points) and 860,000 shares of HD Hyundai (down 1.09 percentage points). Prior to the sales, NPS held stakes of 11.17% and 7.47% in the two firms, whose share prices have risen 76.44% and 70.25%, respectively, over the past six months.
NPS also cut its stake in GS Engineering & Construction by 1.12 percentage points through the sale of around 960,000 shares in mid-August. The fund had raised its holdings to 10.65% in June but has been trimming since July, as GS E&C shares have fallen more than 20% after a strong first-half rally. Similarly, NPS reduced its position in NH Investment & Securities by one percentage point to 8.36% after disposing of about 610,000 shares.
On the buy side, NPS added 253,670 shares of Hanwha Aerospace, raising its stake from 7.56% to 7.92% — the first increase since May 2023. In contrast, its holdings in Korea Aerospace Industries (KAI) decreased slightly, from 8.31% to 8.12%.
NPS also increased its position in Samyang Foods, nicknamed the “Korean Nvidia” for its sharp share price gains, by purchasing 9,265 shares, lifting its stake by 0.12 percentage points. Since NPS’ disclosed trade date of Aug. 21, Samyang’s stock has risen by about 15%. Conversely, NPS trimmed its stake in Kumho Petrochemical by 0.89 percentage points and sold about 100,000 shares of CJ Logistics (down 0.44 percentage points) on Aug. 29.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
