SEOUL, Feb. 24 (Yonhap) — South Korea’s state pension fund posted a return rate of nearly 10 percent in 2020 on robust performances in both domestic and overseas stock markets, the fund’s operator said Wednesday.

The National Pension Service said it registered an 9.7 percent investment return last year, earning 72.1 trillion won (US$65 billion).

Health and Welfare Minister Kwon Deok-cheol speaks at a meeting of the National Pension Service’s investment management committee at a hotel in Seoul on Feb. 24, 2021. (Yonhap)

The annual return rate was the second highest over the past 10 years, after a return rate of 11.3 percent logged in 2019, the NPS said.

It chalked up a 34.66 percent investment return from the local stock market and a 10.22 percent yield from investments in overseas stocks.

The fund’s return rates from investments in domestic and foreign bonds reached 1.71 percent and 0.19 percent, respectively, it said.

Last year’s stellar performance was attributed to strong domestic and overseas stock markets, the NPS said.

The NPS is one of the world’s leading pension funds, with more than 770 trillion won worth of assets under its management.