[THE INVESTOR] National Pension Service, Korea’s largest institutional investor, said on July 13 it is launching a green fund, dedicated to investing in renewable energy and environmental infrastructure.

The state-run pension fund said it will select two outside asset management firms by next month who will manage a combined 200 billion won (US$176 million). 

The fresh fund with 13-year maturity will be required to invest more than half the funds in the nation’s environmental infrastructure projects such as waste disposal facility and renewable energy development.

“This new fund is a strategic business that is based on our long-term investment principles and a new investment trend focusing on the environment,” said NPS CIO Kang Myeon-wook.

By Park Ga-young (gypark@heraldcorp.com)