1. At the 1435^th meeting of the Council of the Organisation for Economic Co-operation and Development (OECD) on November 26, 2021, Korea’s Ambassador to the OECD, Ko Hyoung-kwon, was elected as Chair of the OECD Management Board of the Pension Budget and Reserve Fund (PBRF).

2. The Board oversees the PBRF management, draws up long-term policies regarding the management and reports on them to the Council, and selects outside organizations and experts for the management.

o The total asset value under management of the PBRF is around 1.06 billion euros (as of July 2021). The assets are composed of equities, fixed-income securities, real estate, and more.

3. Ambassador Ko had assumed the position of Vice-Chair of the Management Board since July 2021, focusing on improving the profitability and stability of the PBRF assets. In addition, he has been serving as Co-chair of the OECD Southeast Asia Regional Programme since 2019 for 2 years and 8 months and was recently elected as Chair of the OECD Group of Friends of SMEs.