SOUTH KOREA - South Korea's National Pension Service, the nation's biggest investor, said it's in talks to attract a further US$5bn in foreign capital to invest in domestic assets following similar investments.
The new investors come after Oaktree Group, a US private equity fund, and Asia-focused fund MBK Partners Ltd. announced separate plans last week to team up with National Pension to sink a combined $5bn in South Korean infrastructure projects, companies and property.
"We plan to draw a total of $10bn in foreign capital to invest in Korea together with us," Park said.
National Pension said on 9 October that the new funds would help stabilise the won, which has fallen 25% this year, as the worst US housing slump since the Great Depression and the resulting credit crisis prompt global investors to avoid assets in higher-risk emerging markets.
National Pension, which had 228 trillion won (US$184bn) at the end of August, said last month it expects 2008 annual returns to fall for the first time since 2005.
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