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☆ The most visited National Park Service sites 2023
▼ + stars: | 2024-02-23 | by ( Forrest Brown | ) edition.cnn.com time to read: +5 min

“From Kaloko Honokōhau National Historic Park in Hawai’i to Congaree National Park in South Carolina, parks are attracting more visitors each year to learn about our shared history,” National Park Service Director Chuck Sams said in a news release. 1 spot as the most visited site in the US National Park system and accounts for 5.15% of all visits in the system. Beyond the summer seasonCongaree National Park in South Carolina is starting to grow in popularity, getting more recognition beyond its home state. National Park ServiceVisitation habits to NPS sites are changing with people finding ways to bypass the traditional warm-weather peak. Among the more famous ones were Joshua Tree National Park (3.27 million) and the Lincoln Memorial in Washington, D.C. (8.09 million).

Persons: Chuck Sams, Lincoln, George Washington, Joshua, Joshua Tree, ”, —, ” Sams, “ Organizations: CNN, National, Service, NPS, Historic, Park Service, Recreation Area, Gulf, Lincoln, George Washington Memorial, Natchez, Glen, Vietnam Veterans Memorial, Washington , D.C, Zion, Yellowstone, Rocky, Yosemite National, Acadia, Teton, Lincoln Memorial Locations: Hawai’i, South Carolina, f11photo, Smoky, Mead, Arizona and Utah, Washington ,, Southern California, California, Olympic, Washington, Cuyahoga Valley, Ohio, Montana, Idaho, United States

☆ If you plan on visiting these 9 US national parks this year, you'll definitely need a reservation — take a look
▼ + stars: | 2024-01-22 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +1 min

Some US national parks require tourists to make a reservation before visiting. Popular destinations like Yosemite National Park and Zion National Park are on the list. The scenic sights and outdoorsy activities attract millions to US national parks, typically open 24 hours a day, seven days a week. Although there are 428 national park sites, there are only 63 that exclusively have "national park" in their name. The reservations typically cost $2, excluding Shenandoah National Park, Haleakalā National Park, Zion National Park, and Acadia National Park.

Persons: — Organizations: Yosemite, Zion, Service, National Park Services, Shenandoah, Park Locations: Acadia

WASHINGTON (AP) — The National Christmas Tree in front of the White House fell down Tuesday afternoon amid high winter winds. The tree, a 40-foot Norway spruce from West Virginia's Monongahela National Forest, had been planted just two weeks ago on the White House Ellipse, an area known as President's Park. NPS spokeswoman Jasmine Shanti said in an email that after “replacing a snapped cable,” the tree was back upright by 6 p.m. Tuesday. The lighting of the tree is an annual White House holiday tradition with a countdown and musical performances. The tree was scheduled to be lit Thursday, but there was no indication from the White House whether Tuesday's incident will delay that.

Persons: Jasmine Shanti Organizations: WASHINGTON, Forest, National Park Service, Reagan, Airport, NPS, White House, U.S . Capitol Locations: Norway, West, Monongahela

☆ Why environmentalists are suing the National Park Service to prevent it from planting trees
▼ + stars: | 2023-11-27 | by ( Jonathan Park | Janna Van Vranken | ) edition.cnn.com time to read: +5 min

CNN —The National Park Service wants to replant sequoia groves in Sequoia and Kings Canyon National Parks, where wildfires in 2020 and 2021 inflicted lasting damage on the iconic sequoia forests. Sequoias are among the species of trees that actually “depend on high-intensity fire in order to reproduce effectively,” said Hanson told CNN. In this September 2021 photo, the Windy Fire blazes through the Long Meadow Grove of giant sequoia trees near the Trail of 100 Giants overnight in Sequoia National Forest. David McNew/Getty Images“The Park Service has to abide by the 1964 Wilderness Act,” said Kevin Proescholdt, conservation director at Wilderness Watch. “The more that agencies will allow natural fire to burn and perform its role, the better these wilderness forests will be,” he said.

Persons: ” Chad Hanson, John Muir, ”, Hanson, ” Hanson, “, replanting, David McNew, Kevin Proescholdt, Proescholdt, ” Proescholdt, what’s Organizations: CNN, National Park Service, National Parks, NPS, John Muir Project, Wilderness Watch, Sequoia, Conservancy, sequoia, Giants, Sequoia National, Service, National Forest Service Locations: Sequoia, California, sequoia

☆ Kakao faces growing regulatory risks as political scrutiny rises
▼ + stars: | 2023-11-03 | by ( Joyce Lee | ) www.reuters.com time to read: +4 min

The Kakao messaging application and the Kakao T taxi booking application are seen on a mobile phone in this illustration photo March 13, 2018. South Korean President Yoon Suk Yeol told a public meeting on Wednesday that the market behaviour of Kakao Mobility's taxi-hailing service was monopolistic and required a review. Its regulatory troubles escalated last month when one of its executives was arrested for suspected stock market manipulation during its acquisition of K-Pop agency SM Entertainment (041510.KQ). Last week, regulator Financial Supervisory Service (FSS) said it will refer Kakao, its affiliate Kakao Entertainment and executives involved in the SM Entertainment acquisition to public prosecutors for suspected violation of the Capital Markets Act. "It is necessary to pay attention to legal risks, as problems may arise in the status of KakaoBank depending on the probes' results."

Persons: Thomas White, Yoon Suk Yeol, Kakao, Oh Dong, hwan, Joyce Lee, Miyoung Kim, Sam Holmes Organizations: REUTERS, Kakao Corp, Naver Corp, Reuters, Mobility, SM Entertainment, Financial Supervisory Service, Kakao Entertainment, Pension Service, NPS, Samsung Securities, Thomson Locations: SEOUL, Korean, Kakao

☆ Section of Blue Ridge Parkway closed because visitors were ‘feeding and attempting to hold a young bear’
▼ + stars: | 2023-10-31 | by ( Devon M. Sayers | ) edition.cnn.com time to read: +2 min

CNN —A section of the Blue Ridge Parkway has been closed by officials “after multiple documented reports of visitors feeding and attempting to hold a young bear in recent weeks,” the National Park Service said in a news release. The section closed on Monday “until further notice.”“When people intentionally attract bears with trash and food it can lead to very dangerous situations. The safety tips instruct visitors not to feed bears and to properly store all food. The Blue Ridge Parkway is the most-visited of the National Park Service’s 425 sites, according to 2022 figures. The Blue Ridge Parkway starts in Waynesboro, Virginia, and stretches more than 469 miles, ending in the Great Smoky Mountains near Cherokee, North Carolina, according to NPS.

Persons: ”, Tracy Swartout, “ Organizations: CNN, National Park Service, Bears, NPS Locations: Asheville , North Carolina, Ox, NC80, Waynesboro , Virginia, Smoky, Cherokee, North Carolina

☆ Death Valley is an oasis of lakes and wildflowers after Hurricane Hilary
▼ + stars: | 2023-10-25 | by ( Mary Gilbert | ) edition.cnn.com time to read: +4 min

CNN —California’s Death Valley is the hottest place in the world and the driest place in North America. But two months after Hurricane Hilary’s epic rainfall, parts of the national park look more oasis than desert. “It is definitely a rare and special event,” Death Valley park spokesperson Abby Wines told CNN, only happening roughly once a decade. Road crews traverse along hwy 190 in Death Valley, California, on August 31, 2023, where most of the road was washed out. But average high temperatures in Death Valley drop quickly during the fall and get nowhere near the record-shattering heat of summer.

Persons: Abby Wines, Hilary, Robert Gauthier, Wines, “, Death, Mike Reynolds, Mario Tama, Badwater, ” Wines, ” Organizations: CNN, Los Angeles Times, Wines, National Park Service, NPS Locations: North America, Death, Death Valley , California, Badwater

☆ A rare solar eclipse is happening in the US this weekend and 68 million Americans have the chance to see it. Here's when, where, and how to see this spectacular 'ring of fire' safely.
▼ + stars: | 2023-10-13 | by ( Morgan Mcfall-Johnsen | Maiya Focht | ) www.businessinsider.com time to read: +9 min

Here's what causes a solar eclipse, how often they happen, and how to watch without burning your eyes. What an annular solar eclipse is, and what causes itThe entire sequence of an annular solar eclipse, from the beginning to the ring of fire. After that, the contiguous US won't see another total solar eclipse until 2044, or an annular eclipse until 2046. AdvertisementAdvertisementThe paths of the October 2023 annular solar eclipse (left) and the 2024 total solar eclipse (right). How to view a solar eclipse without burning your eyesIf you look at a solar eclipse with no protection, you could damage your eyes.

Persons: —, annularity, MDT, you'll, goh keng cheong, Guhathakurta, Sertac Kayar, Alex Lockwood, Donald Trump, Melania, Barron, Kevin Lamarque, Connie Moore Organizations: Service, NASA, NASA's, US, White, National Park Service, NPS Locations: Oregon, Texas, annularity Eugene, , California, , Nevada, Richfield , Utah, MDT Albuquerque, New Mexico, MDT San Antonio , Texas, Colorado, New York, Diyarbakir, Turkey, Maine, Corpus Christi , Texas

☆ The winner of Katmai’s Fat Bear Week contest for 2023 is …
▼ + stars: | 2023-10-11 | by ( Forrest Brown | ) edition.cnn.com time to read: +2 min

CNN —Voting is over in Katmai National Park & Preserve’s annual Fat Bear Week contest, in which the public picks from 12 big ‘n’ bulky bears in an online brackets-style tournament. Grazer was first identified as one the bears dining in Katmai’s Brooks River in 2005 as young cub. The runner-up32 Chunk shows off his fat form on September 17, 2023. Even Bear 747 – the 2022 Fat Bear Week champ – yielded fishing spots and salmon to him. Meanwhile, Bear 747 was eliminated in his first round of play this year, showing again no bear can rest on his or her feasting laurels.

Persons: Grazer, she’s, Jimenez, Chunk, it’s Organizations: CNN, National Park Service, –, NPS, Service, Bear Locations: Katmai’s Brooks, Brooks

☆ Fat Bear Week 2023: Check out the contestants now, start voting Wednesday
▼ + stars: | 2023-10-03 | by ( Forrest Brown | ) edition.cnn.com time to read: +5 min

Now it’s time to meet the contenders:• 32 Chunk: A large adult male with narrowly set eyes, a prominent brow ridge and a distinctive scar across his muzzle. Her claim to fame: Eight known litters, the most of any bear currently at Brooks River. • 480 Otis: He’s a medium-large adult male with a blocky muzzle and a floppy right ear. • 747 bear: The 2022 winner is a large adult male with a blocky muzzle and floppy ears. Live camThe live cam from the Brooks River at Katmai is a popular online feature.

Persons: Jimenez, Otis, Grazer, Walker, he’s, Brooks, Bucky Dent, she’s, She’s, • Organizations: CNN, &, National Park Service, Service, “ Rangers, Grazer, Otis Locations: Alaska, Washington, www.fatbearweek.org, Brooks, Brooks Falls, Katmai

☆ The October 2023 solar eclipse is known as a 'ring of fire.' Here's what that means, when it's happening, and how to see it.
▼ + stars: | 2023-10-01 | by ( Morgan Mcfall-Johnsen | Maiya Focht | ) www.businessinsider.com time to read: +7 min

AdvertisementAdvertisementWhat an annular solar eclipse is, and what causes itThe entire sequence of an annular solar eclipse, from the beginning to the ring of fire. The eclipse of October 14, however, will be an annular solar eclipse. AdvertisementAdvertisementAfter that, the contiguous US won't see another total solar eclipse until 2044, or an annular eclipse until 2046. The paths of the October 2023 annular solar eclipse (left) and the 2024 total solar eclipse (right). How to view a solar eclipse without burning your eyesIf you look at a solar eclipse with no protection, you could damage your eyes.

Persons: —, goh keng cheong, Guhathakurta, Sertac Kayar, They're, Alex Lockwood, Donald Trump, Melania, Barron, Kevin Lamarque, Connie Moore Organizations: Service, NASA, US, NASA's, White, National Park Service, NPS Locations: Portland , Oregon, San Antonio , Texas, Diyarbakir, Turkey, Texas, Maine, Oregon, Corpus Christi , Texas

☆ These 10 brands have the highest customer loyalty—Apple isn’t in the top 3
▼ + stars: | 2023-09-06 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

The company's "Customer Loyalty Index" evaluated Fortune 100 companies across a series of six metrics, excluding 40 companies that lacked sufficient data or didn't interact directly with customers. 3 company, semiconductor giant Intel, featured "some of the lowest volumes of customer service and complaint-related searches," said the report. 4, has long been known for having a cult-like fanbase, but "surprisingly" suffered in the customer service department, the report said. That means people searched online more for Apple-related support questions than most other Fortune 100 companies, DesignRush added. Coca-Cola "has some of the most satisfied customers, with some of the fewest customer service and complaint-related searches," said the report.

Persons: Johnson, DesignRush, Warren Buffett Organizations: Google, Lowe's Intel Corporation Apple, Cola Company PepsiCo, Allstate Corporation Microsoft Johnson, Home Depot, Intel, Apple, Microsoft, Cola, PepsiCo Locations: DesignRush

HONG KONG, Aug 3 (Reuters Breakingviews) - South Korea’s dealmaking skeletons are back to haunt. Paul Singer's Elliott opposed a $9 billion union eight years ago of Samsung C&T (028260.KS) and Chiel Industries. South Korea’s successful prosecution of Lee, Park and a former minister that oversaw NPS, provided cause for Elliott to demand payback. Elliott sued in 2018 and the Permanent Court of Arbitration in the Hague in June awarded the U.S. fund over $100 million. Far from being the end of it though, President Yoon Suk Yeol’s government is contesting that award in a British arbitration court.

Persons: Samsung's Lee, Paul Singer's Elliott, Elliott, Jay Y, Lee, Park Geun, Yoon Suk, Hague, Yoon, Taiwan's TSMC, Una Galani, Thomas Shum Organizations: Reuters, Korea Inc, Samsung, Chiel Industries, National Pension Service, NPS, U.S ., Korea, Trade, Global, Samsung Electronics, Apple, Tokyo, Korea's Ministry, Justice, Elliott Investment, Thomson Locations: HONG KONG, U.S, Hague, Seoul, Korea, China, Beijing, Washington, Taiwan, Japan, South Korea, United States

☆ Death Valley: 2 men got lost, drove off-road; charges pending
▼ + stars: | 2023-08-02 | by ( Marnie Hunter | ) edition.cnn.com time to read: +3 min

CNN —Two men driving in Death Valley National Park on July 4 got lost and illegally drove off-road, the US National Park Service alleges, sending one man to the hospital with heat-related illness. “Death Valley is an awe-inspiring place that demands our utmost respect and preparedness,” Superintendent Mike Reynolds said in a statement. The pair walked about another mile to paved Badwater Road, where they walked an additional 12 miles (19 kilometers) north, the Park Service said. NPSDeath Valley must: Road mapThe Park Service reminds visitors that there is no cell service in most of the park, and GPS navigation can be unreliable in remote locations such as Death Valley. The Park Service said it’s safest to stay on paved roads during the summer heat.

Persons: Mike Reynolds, ” Organizations: CNN, National Park Service, NPS, GPS, Park Service, View, “ Vehicles, Service Locations: Death, Shoshone , California, Pahrump , Nevada, Alaska

☆ 'Oppenheimer' leaves out New Mexicans exposed to radiation from the Manhattan Project, despite local efforts to contact filmmakers
▼ + stars: | 2023-07-25 | by ( Morgan Mcfall-Johnsen | Jenny Mcgrath | ) www.businessinsider.com time to read: +10 min

The Manhattan Project displaced some New Mexicans and employed others at Los Alamos in the 1940s. Christopher Nolan's new film "Oppenheimer" leaves out these lasting, local impacts. The Manhattan Project displaced some New Mexicans, employed others, and irradiated potentially thousands. Her grandfather was the physicist Enrico Fermi, who worked on the Manhattan Project and is played by Danny Deferrari in the film. The Oppenheimer character briefly mentions people living in the area when he proposes it as the site for the Manhattan Project.

Persons: Christopher Nolan's, Oppenheimer, J, Robert Oppenheimer, Tina Cordova's, Cordova, Robert Alexander, me, Christopher Nolan, Wiktor, Getty Images Cordova, Olivia Fermi, Kai Bird, Fermi, Cordova's, Enrico Fermi, Danny Deferrari, It's, Los, Rosario Martinez Fiorillo, Nolan, Elizabeth, Alvin Graves, Elizabeth Graves, Alex Wellerstein, Geiger, Bob Bell, Matt McClain, Graves, Nobody, Leslie Groves, Wellerstein, Cillian Murphy Organizations: Manhattan Project, Service, New, New Mexico History, Pixar, Odeon Luxe, Anadolu Agency, Getty Images, Manhattan, Los Alamos Ranch, Trinity, San, El Rancho, Trinity Test, Stevens Institute of Technology, Washington, Getty, National Park Service, Los Alamos, Alamogordo, Base, Associated Press, Army, Pictures, NPS Locations: Los Alamos, Wall, Silicon, New Mexico, Tularosa, Trinity, Santa Fe, California, London, Vancouver, Alamogordo , New Mexico, San Ildefonso Pueblo, El, Carrizozo , New Mexico, Amarillo , Texas, Silver City , New Mexico, Cordova, Los

☆ Woman severely injured by bison in North Dakota national park
▼ + stars: | 2023-07-19 | by ( Chris Boyette | ) edition.cnn.com time to read: +2 min

CNN —A Minnesota woman was severely injured by a bison in Theodore Roosevelt National Park in Medora, North Dakota, according to the National Park Service. A bison gored a 47-year-old Arizona woman Monday morning in Yellowstone National Park in Wyoming. In the wake of the two incidents involving national park guests within days of each other, the National Park Service has issued a warning that bison can be easily agitated during mating season. Use extra caution and give them additional space during this time,” the park service said. “Approaching bison threatens them, and they may respond by bluff charging, head bobbing, pawing, bellowing, or snorting,” according to the park service.

Persons: Theodore Roosevelt, “, goring, Bison Organizations: CNN, National Park Service, “ Bulls, NPS, Emergency Medical Services Locations: Minnesota, Medora , North Dakota, Arizona, Wyoming, Billings County, Fargo, Lake Yellowstone, Yellowstone

CNN —A woman died at the Grand Canyon National Park while trying to hike eight miles on Sunday, the National Park Service said. The 57-year-old was hiking near the Tuweep area of the park when she became unconscious, according to a news release from the park service. An excessive heat warning is in place for the inner parts of the Grand Canyon through Wednesday, NPS said. The park service is investigating the incident alongside the Mohave County Medical Examiner. And extreme heat is the No.

Persons: stepsons, Tarik Benmarhnia, San Diego Organizations: CNN, National Park Service, NPS, Medical, Environmental Protection Agency, University of California, US Centers for Disease Control Locations: Mohave, Big Bend, Texas, San, United States, Mexico

☆ South Korea ordered to pay Elliott about $109 mln total over 2015 Samsung merger
▼ + stars: | 2023-06-20 | by ( Joyce Lee | ) www.reuters.com time to read: +1 min

SEOUL, June 20 (Reuters) - The South Korean government has been ordered to pay hedge fund Elliott about $108.5 million, Elliott and the Ministry of Justice said on Tuesday, in an dispute settlement case stemming from the 2015 merger of two Samsung (005930.KS) affiliates. Elliott was a minority stakeholder in Samsung C&T and opposed the deal, deeming the terms of the merger unduly unfavourable to the company. The NPS, which approved the merger, held a larger stake in Samsung C&T and was viewed as a casting vote. The arbitration tribunal ordered the South Korean government to pay Elliott about $53.6 million in damages, plus delayed interest, as well as $28.9 million in legal fees, the justice ministry said, without elaborating. Elliott welcomed the decision in a statement, and urged South Korea to "pay the ultimate award rather than pursue baseless legal proceedings to challenge the Tribunal's decision".

Persons: Elliott, Moon Hyung, Park, hye, Joyce Lee, Sandra Maler Organizations: South, Ministry of Justice, Samsung, Elliott Investment, South Korean, Cheil Industries, Thomson Locations: SEOUL, The Hague, U.S, South, South Korea

☆ Fact Check-Biden did not replace the U.S. flag at the Marine Corps Memorial with a Pride flag
▼ + stars: | 2023-06-15 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

A satirical article about U.S. President Joe Biden switching the Stars and Stripes flag of the United States at the U.S. Marine Corps War Memorial in Washington D.C. with a Pride flag was shared online as if it were factual. Posts on social media shared a photograph in which the monument, representing the U.S. victory on the Japanese island of Iwo Jima during World War Two, bears a Pride flag instead of its usual American flag (here). However, the claim stems from a satirical website and the image circulating is digitally altered. Christopher Hershey, Chief of Staff at the George Washington Memorial Parkway, maintained by NPS and where the Marine Corps War Memorial is located, said in an email that the U.S. flag at the monument has not been replaced. This allegation stems from a satirical article by website Babylon Bee.

Persons: Joe Biden, “ Impeach Biden, Biden, Christopher Hershey, George Washington, “, ”, Read Organizations: U.S . Marine Corps, U.S, Reuters, National Park Service, Staff, George, George Washington Memorial, NPS, Marine Corps, “ Biden, Iwo, U.S . Locations: United States, Washington, Iwo Jima, U.S

☆ 5 common survival myths that could get you killed in the wilderness
▼ + stars: | 2023-06-07 | by ( Gene Kim | Jessica Orwig | ) www.businessinsider.com time to read: +5 min

There are a lot of survival myths out there that could get you hurt, or even worse, killed. Getting outdoors this summer is great for your mental and physical health, but spending time in the wilderness can come with risks. Don't try to pick up or track snake either, if it bites you. Myth 3: If you're lost in the wild find a food supply immediately. So if you're trying to gain a sense of direction in the woods, don't use moss as your guiding north star.

Persons: —, Panish Shea, Boyle, Mayo, that's, you've, Moss, Clint Emerson, Emerson Organizations: Service, US Centers for Disease Control, National Park Service, NPS

☆ Biologists found 3 adorable female mountain lion kittens. Now the trio will have to survive the harsh urban landscape of Los Angeles.
▼ + stars: | 2023-05-28 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +2 min

Biologists discovered three mountain lion kittens in a patch of poison oak outside of Los Angeles. Jeff Sikich, the lead field biologist of the NPS mountain lion study, said in the release. According to the main findings of the NPS observations, mountain lions in Los Angeles County are significantly threatened by the development of roads and cities. A leading cause of mountain lion deaths are vehicle strikes, which often occur when they cross major freeways like the 101, 405, and 118. Sikich told the Los Angeles Times that since March 2022, 15 mountain lions have died, many after being struck by vehicles.

☆ Why missing one $2 expense could derail your whole national park trip
▼ + stars: | 2023-05-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

What this means: Travelers can't necessarily bank on showing up spontaneously to a national park and getting the experience they desire. Record park visitation spurred reservationsTourists crowd into the Midway Geyser Basin on July 14, 2021 at Yellowstone National Park, Wyoming. One — Hot Springs National Park in Arkansas — saw record visitors last year. Overall visits to national parks jumped by 5% in 2022 versus the year prior, to 312 million recreation visits. These national parks require vehicle reservationsTraffic heading into Yosemite Village on Oct. 6, 2019, in Yosemite National Park, California.

☆ Wedbush puts $5 target on First Republic, says any takeover could wipe out most of the equity value
▼ + stars: | 2023-03-17 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

A potential takeover over First Republic could spell trouble for the bank's shareholders, according to Wedbush Securities. Analyst David Chiaverini downgraded the bank stock to neutral from outperform, saying that a potential sale would require a marking of its loans and securities to fair value, and wipe out equity value for shareholders. Given this backdrop, Chiaverini slashed his price target to $5 a share from $140, representing more than 85% downside from Thursday's close. Chiaverini views a sale of the bank as beneficial to the broader banking sector, and the "best the option to avoid receivership." However, marking the company's tangible book value to fair value as of Dec. 31 implies negative $73 a share and symbolizes a $13.5 billion capital pit for any buyer.

[1/2] Kim Tae-hyun, Chairman & CEO of South Korea's National Pension Service, speaks during an interview with Reuters in Seoul, South Korea, March 3, 2023. National Pension Service/Handout via REUTERSSEOUL, March 6 (Reuters) - South Korea's National Pension Service (NPS), manager of the world's third-largest public pension fund, will collaborate with foreign exchange authorities when needed to help stabilise the market, its chairman told Reuters. "Based on last year's experience, we have prepared measures aimed at easing dollar demand and volatility in the foreign exchange market," Kim said. "A predictable and stable foreign exchange rate is also advantageous to us," he said, adding that cooperation with foreign exchange authorities would be based on achieving good investment returns. With the fund expected to be depleted by 2055, his top priority is to provide support for the government's plan to reform the national pension system, he said.

☆ South Korea pension fund will deplete faster than expected, report says
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +1 min

SEOUL, Jan 27 (Reuters) - South Korea's huge national pension fund is set to see its pool of money depleted by 2055, earlier than expected, because of a shrinking population amid low economic growth, an official estimate showed on Friday. A government panel commissioned for the estimate, made every five years, said in a report that the National Pension Service (NPS) would see its fund depleted two years earlier than 2018 estimate predicted. The fund will grow until at least 2040 as the relatively young pension system, launched in 1988, still has more contributions than payments. President Yoon Suk-yeol, who took office in May 2022, has promised sweeping reforms of the national pension system with the aim of making it more sustainable, and the panel's findings will be the basis for the reform plans. South Korea's population has started shrinking since reaching its peak in 2020 at 51.84 million, and the speed of decline will likely quicken because of low birth rates, official data and estimates show.

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