TechFlow news, April 7 — According to Coindesk citing the Seoul Economic Daily, South Korea's National Pension Service (NPS) plans to explore applying blockchain technology to its fund trading system. The fund currently manages approximately 1,224 trillion KRW (about $836 billion) in assets.
NPS will initiate a preliminary disclosure process, inviting blockchain experts and relevant companies to participate, followed by a feasibility study assessing the integration of blockchain technology into its accounting systems. This initiative aims to enhance transparency and security in fund transactions, prevent tampering with financial records, and safeguard the retirement funds of millions.
The report noted that NPS has previously used blockchain technology for tracking overseas pension recipients. While the institution is not considering direct investments in cryptocurrencies such as Bitcoin, it has indirectly engaged with the crypto industry through investments in Coinbase stock.
