Korea's NPC appoints BoNY to manage stock loan

Korea Securities Depositary (KSD) has selected the Bank of New York to administer its securities lending programme. This programme will involve the offshore securities owned by the National Pension Corporation (NPC), the world's eighth largest pension fund. NPC is a non-profit corporation established by the Korean Ministry of Health and Welfare in 1988 to address social welfare and security reforms. It was recently awarded the title "institutional investor of 2005" by AsianInvestor…