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| The file photo shows a building of the National Pension Service. / Korea Times file |
By Kim Bo-eun
The National Pension Service (NPS) with over 700 trillion won in assets under management, is in the hot seat after it was revealed that four of its investment managers were being investigated by police for allegedly smoking cannabis.
The Jeonbuk Provincial Police Agency stated Friday it had booked the four managers to question them over the allegations.
It added that it has requested the National Forensic Service to conduct tests on hair samples after a urine analysis came back negative.
The managers acknowledged the allegations during questioning.
The investigation comes as a shock as the NPS is in charge of managing 752.2 trillion won.
It dismissed the managers Sept. 9, after convening a disciplinary committee meeting.
This is not the first time NPS employees have engaged in misconduct.
NPS employees are banned from receiving money and goods from work-related people, but in October 2018, 114 were found to have been treated to overseas trips by foreign firms investing NPS funds.
In February 2017, three employees were found to have copied confidential information on fund management to their personal computers and external hard drives, ahead of their retirement.
The latest case poses further problems for the NPS, given it has suffered from a shortage of investment experts following its relocation to Jeonju in North Jeolla Province in 2017.
The agency has struggled to retain investment managers, and continues to experience difficulty in hiring new experts.
The NPS was unavailable for comment on the latest issue.
