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Updated Wednesday, February 3, 2010 11:24 am TWN, AFP

S. Korea fund to buy stake in British airport

SEOUL -- South Korea's state pension fund, the world's fifth largest, said Tuesday it would buy a 12 percent stake in Britain's Gatwick airport — its second major investment in the country in three months. “We have been looking into investment opportunities abroad which ensure safe returns,” said Kim Hyung-Dong, spokesman for the National Pension Service which has assets of more than 273 trillion won (US$236 billion). “The investments in Britain are part of efforts to diversify investment,” he told AFP, saying the fund would expand its overseas interests but giving no figure.

Foreign investment currently makes up just under 10 percent of total assets.

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