Key Takeaways
- • The National Pension Service (NPS) and JPMorgan Asset Management signed an MOU on November 10 at JPMorgan Chase headquarters in New York to create a strategic alliance covering all asset groups, upgrading a consignment relationship in place since 2015.
- • The expanded cooperation spans stocks, bonds, multi-assets, and alternative investments, with the two sides planning to exchange global market trends, portfolio composition, and risk management methods.
- • JPMorgan Asset Management manages about $4.8 trillion (roughly 6,500 trillion won) as of the end of September 2026, according to the article.
- • JPMorgan Asset Management plans to open a Jeonju office next year and has signaled a long-term willingness to invest in the Korean market.
- • The agreement follows NPS's March alliance with BlackRock, underscoring the pension fund's push to deepen ties with major Wall Street asset managers.
Summary
The National Pension Service and JPMorgan Asset Management signed a memorandum of understanding for a strategic alliance covering all asset groups on the 10th (local time) at JPMorgan Chase headquarters in New York, according to the report. The agreement upgrades an existing consignment management relationship, in place since 2015, into a comprehensive cooperative relationship spanning stocks, bonds, multi-assets, and alternative investments.
About 20 officials attended the signing, including NPS Chairman Kim Sung-joo and George Gaetz, president of JPMorgan Asset Management. Under the arrangement, the two organizations plan to exchange information on global market trends, portfolio composition, and risk management methods, and research cooperation across all asset groups will also take place. Separately, Kim met with JPMorgan Chase co-president Troy Roerbaugh to discuss ways to expand strategic cooperation. An NPS official said the pension fund would seek additional cooperation measures in line with its long-term management goals.
JPMorgan Chase, founded in 1799, operates investment banking, retail finance, corporate finance, and asset management businesses. JPMorgan Asset Management managed approximately $4.8 trillion as of the end of September 2026. Gaetz said the firm was deeply interested in strengthening its long-standing partnership with NPS and would share its insights and expertise in global active management.
NPS, described in the report as one of the world's top three pension funds, has been deepening relationships with major Wall Street firms. In March, it signed a strategic alliance with BlackRock, the world's largest asset manager, covering its entire asset group. JPMorgan Asset Management also plans to open a Jeonju office next year and is said to have a long-term willingness to invest in the Korean market.
About 20 officials attended the signing, including NPS Chairman Kim Sung-joo and George Gaetz, president of JPMorgan Asset Management. Under the arrangement, the two organizations plan to exchange information on global market trends, portfolio composition, and risk management methods, and research cooperation across all asset groups will also take place. Separately, Kim met with JPMorgan Chase co-president Troy Roerbaugh to discuss ways to expand strategic cooperation. An NPS official said the pension fund would seek additional cooperation measures in line with its long-term management goals.
JPMorgan Chase, founded in 1799, operates investment banking, retail finance, corporate finance, and asset management businesses. JPMorgan Asset Management managed approximately $4.8 trillion as of the end of September 2026. Gaetz said the firm was deeply interested in strengthening its long-standing partnership with NPS and would share its insights and expertise in global active management.
NPS, described in the report as one of the world's top three pension funds, has been deepening relationships with major Wall Street firms. In March, it signed a strategic alliance with BlackRock, the world's largest asset manager, covering its entire asset group. JPMorgan Asset Management also plans to open a Jeonju office next year and is said to have a long-term willingness to invest in the Korean market.
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