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South Korea’s National Pension Service dismisses real estate investment chief
South Korea’s National Pension Service dismissed its real estate investment chief after an internal audit.
The chief had led the fund’s real estate investment team since 2023 and was placed on leave in July.
Reports say he faced allegations of improper personal demands and misconduct, but the agency has not publicly confirmed the reasons for his dismissal.
The dismissal is the first of a fund management office head since 2018, according to reports.
The fund held about 70.2 trillion won in real estate investments at the end of August, around 4% of its portfolio.
The infrastructure investment chief has been covering the role, and new real estate investment decisions are reported to be paused.
The pension fund now needs to find a successor, though it has not announced a timeline.
South Korea’s National Pension Service dismissed its real estate investment chief on November 3, according to reports from Korean financial news outlets.
The chief, Ahn Jun-sang, had led the service’s real estate investment office since 2023.
Reports said an internal audit examined allegations that he made improper personal demands and behaved inappropriately, but the pension service did not disclose the grounds for the dismissal.
The service’s real estate investments totaled 70.223 trillion won at the end of August, about 4% of its portfolio.
The infrastructure investment chief had been acting in the role while Ahn was on standby from July.
- Who
- The National Pension Service dismissed real estate investment chief Ahn Jun-sang.
- What
- He was dismissed after an internal audit and disciplinary review. The service did not disclose the formal grounds.
- When
- November 3, 2026. Reports said the dismissal was decided at a disciplinary committee meeting the previous month.
- Where
- South Korea.
- Why
- Reports cited allegations of improper personal demands and inappropriate conduct. The pension service said personnel matters are confidential.
This story does not have two clearly opposing sides.
Allegations of abusive conduct toward an outsourced fund manager were raised, but an internal audit concluded there was no misconduct.
Ahn was placed on standby while an internal audit proceeded.
A disciplinary committee decided to dismiss Ahn, according to a report.
The pension service notified its fund management division of the dismissal, according to a report.
- Dismissed official
- Ahn Jun-sang
- Role
- Chief of the National Pension Service’s real estate investment office
- Real estate investments
- 70.223 trillion won at the end of August
- Portfolio share
- About 4%
- Standby began
- July 15, 2026
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징계 등 인사 관련 내용은 비공개 사항이다