NPS counts cost of political tinkering – again

When politics and pension investments mix, the consequences are often costly. Korea’s government has received yet another reminder of this, courtesy of the scandal engulfing National Pension Service (NPS), the country’s largest pension fund. On December 28, a special team of prosecutors arrested NPS chairman and chief executive Moon Hyung-pyo and launched a special investigation into allegations of corruption at the fund. The far-reaching nature of the probe – which is linked to a…