Woori Bank Reappointed as NPS Foreign Currency Depository... Manages 886 Trillion Won

Exclusive Management of Foreign Currency Asset Custody and Settlement for Up to Five Years

Woori Bank announced on May 8 that it has been reselected as the preferred negotiator for the National Pension Service's foreign currency vault bank.

The term of this contract runs from August 2026 to July 2031, during which Woori Bank will be responsible for managing the National Pension Service's foreign currency assets for up to five years.

With this reappointment, Woori Bank will continue its cooperative relationship with the National Pension Service, which has been ongoing since 2021.

The National Pension Service is considered one of the world's top three pension funds, alongside Japan's Government Pension Investment Fund (GPIF) and Norway's Government Pension Fund Global (GPFG). As of the end of February 2026, it manages a fund of approximately 1,610 trillion won, of which 886 trillion won is allocated to overseas assets. As a result, the importance of secure storage and efficient settlement systems for foreign currency assets is increasing.

Woori Bank is reported to have received high marks during the selection process for its global-level risk management system and its digital-based foreign exchange and settlement systems. Going forward, Woori Bank plans to support not only the custody and settlement of the National Pension Service's foreign currency assets but also annual foreign currency remittance and exchange transactions amounting to several hundred billion dollars.

Jung Jinwan, President and CEO of Woori Bank, stated, "This reappointment reflects recognition of Woori Bank's stable fund management and vault management capabilities. We will continue to advance our risk management system and drive digital payment innovation to serve as a strategic partner supporting the stable asset management of the National Pension Service."

Meanwhile, Woori Bank currently carries out three core tasks for the National Pension Service: main won clearing bank, foreign currency vault bank, and stock custody services. With this reappointment, Woori Bank aims to further strengthen its competitiveness in global custody and foreign exchange services, as well as expand its presence in overseas financial markets.

This content was produced with the assistance of AI translation services.