直线拉升！刚刚：宣布救市！

Core Viewpoint - The South Korean National Pension Service (NPS) is implementing a more flexible approach to strategic foreign exchange hedging to support the weakening Korean won, which has depreciated over 8% against the US dollar in the second half of the year, making it the worst-performing currency in Asia [1]. Group 1 - The NPS has set a strategic hedging upper limit of 10% for its overseas investment portfolio, which manages approximately 136.1 trillion KRW (about 92.4 billion USD) [1]. - Following the announcement, the Korean won strengthened, with a 0.9% increase against the US dollar [2]. - The NPS has historically used hedging and foreign exchange operations to alleviate pressure on the won, including selling USD and buying KRW from January to May this year [4]. Group 2 - The NPS's governing body has decided to extend its foreign exchange swap agreement with the Bank of Korea (BOK) for another year, until the end of 2026 [4]. - The swap limit has been gradually increased from 10 billion USD in 2022 to 65 billion USD [5].