Partners expand beyond existing mandate management relationship

Collaboration to cover global market analysis, asset allocation and more

National Pension Service Chairman Kim Sung-joo, left, and JPMorgan Asset Management President George Gatch pose for a photo after signing an MOU at JPMorganChase's headquarters in New York. [National Pension Service]
National Pension Service Chairman Kim Sung-joo, left, and JPMorgan Asset Management President George Gatch pose for a photo after signing an MOU at JPMorganChase's headquarters in New York. [National Pension Service]

The National Pension Service and JPMorgan Asset Management signed a strategic MOU covering all asset classes at JPMorganChase's headquarters in New York on Tuesday (local time), the two organizations announced Wednesday.

The agreement is designed to expand their existing mandate management relationship into a comprehensive partnership spanning equities, bonds, multi-asset strategies and alternative investments.

JPMorganChase is a global financial conglomerate founded in 1799, operating across investment banking, retail banking, corporate finance and asset management. JPMorgan Asset Management manages approximately $4.8 trillion in assets as of the end of September 2026 and has managed investment assets on behalf of the National Pension Service since 2015.

About 20 officials attended the signing ceremony, including National Pension Service Chairman Kim Sung-joo and JPMorgan Asset Management President George Gatch.

Kim also held separate meetings with JPMorganChase Co-President Troy Rohrbaugh and Gatch to discuss the global financial market outlook and ways to deepen strategic cooperation between the two institutions.

Under the MOU, the two organizations plan to exchange information and expertise on global macroeconomic and financial market trends, asset allocation, portfolio construction and risk management; strengthen research collaboration and investment capabilities across all asset classes; and explore additional areas of cooperation aligned with the National Pension Service's long-term investment goals.

"We expect this agreement to significantly strengthen the strategic cooperation between our two organizations," Kim said. "We will continue to enhance our fund management expertise and investment capabilities through collaboration with global financial institutions."

Gatch said he was honored to deepen the longstanding partnership with the National Pension Service through the strategic agreement. "We look forward to sharing our global active management insights and expertise as we work closely together to help the National Pension Service achieve its long-term investment objectives," he added.

Meanwhile, JPMorgan Asset Management plans to open a new local office in Jeonju in 2027 to expand its domestic presence and strengthen customer support. The National Pension Service has been broadening its engagement with global alternative investment firms to enhance fund management expertise and returns. Thirteen global asset managers — including BlackRock, Starwood Capital and DWS — have already opened offices in Jeonju. On Thursday, the fund co-hosted a "Global Investment Insights Forum" with Blackstone at its fund management headquarters in the North Jeolla Province innovation city.


park.jiyeong@heraldcorp.com