July 28, 2014 / 11:37 PM / 3 years ago

South Korea's pension fund to invest $800 mln in Poland

SEOUL, July 29 (Reuters) - South Korea’s National Pension Service (NPS) plans to invest about 820 billion Korean won ($800 million) in real estate assets in Poland, a fund spokeswoman confirmed on Tuesday.

The world’s fourth-largest pension fund decided last week to invest the money in two shopping malls and a power transmission tower in Poland.

The spokeswoman declined to comment on further details as the investment contract has not yet been signed.

NPS had invested 21.4 trillion won, or 4.9 percent of its assets under management in overseas alternative assets such as real estate as of the first quarter.

The fund plans to increase investment in alternative assets to more than 10 percent of its total holdings by end-2019, NPS has previously said.

$1 = 1025.7500 Korean Won Reporting by Joyce Lee; Editing by Richard Pullin

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