South Korea’s National Pension Service to Explore Blockchain for Secure Fund Management

South Korea’s National Pension Service (NPS) is taking a significant step toward enhancing the security and transparency of its $836 billion pension fund by exploring the integration of blockchain technology. The NPS aims to leverage blockchain to improve record management, minimize errors in transactions, and ensure increased auditability, addressing concerns around public funds. The study will involve expert input from technology firms, academics, and consultants to determine optimal implementation strategies, both technologically and operationally. This initiative demonstrates South Korea’s commitment to integrating innovative technologies into public services for a more secure future.