정부, 국민연금·데이터·마약탐지 정책 집중 추진
The South Korean government on May 28 finalized the 2026 asset allocation for the National Pension Fund, established new data policy governance to respond to the AI era, and strengthened drug detection systems, concentrating efforts on policies across finance, industry, and security sectors.
South Korean Government Policy Update — May 28, 2026
Major Policy and Legislative Changes
National Pension Fund 2026 Asset Allocation Adjustment and 2027-2031 Mid-Term Asset Allocation Decision
The National Pension Fund Management Committee under the Ministry of Health and Welfare held its fifth meeting of 2026 on May 28 at 4:30 p.m. at the Government Seoul Office. During the meeting, the committee decided to adjust the domestic stock target allocation for 2026 from 14.9% to 20.8%. The domestic stock target allocation will be applied starting from the end of June 2026 when the rebalancing moratorium expires. The adjusted target allocation as of end-2026 is set at domestic stocks 20.8%, foreign stocks 34.7%, domestic bonds 23.1%, foreign bonds 7.4%, and alternative investments 14.0%. To flexibly respond to the volatile domestic stock market, the committee temporarily expanded the strategic asset allocation (SAA) tolerance range for domestic stocks. Additionally, the committee deliberated and approved target allocations by asset class for the five-year period from 2027 to 2031, with the target allocation as of end-2031 set at stocks approximately 55%, bonds approximately 30%, and alternative investments approximately 15%.
New Data Policy Governance Framework Established to Address AI Era
Prime Minister Kim Min-seok chaired the 'Ministerial Meeting on Data' on May 28 at 2:30 p.m. at the Government Seoul Office. The meeting was attended by ministers and vice ministers from the Ministry of Economy and Finance, Ministry of Science and ICT, Ministry of the Interior and Safety, Ministry of Culture, Sports and Tourism, Ministry of Agriculture, Food and Rural Affairs, Ministry of Industry, Ministry of Health and Welfare, Ministry of Land, Infrastructure and Transport, Ministry of SMEs and Startups, Planning and Budget Office, National Data Agency, Korean Intellectual Property Office, and Personal Information Protection Commission. The government decided to establish a 'Ministerial Meeting on Data' chaired by the Prime Minister with direct participation of related ministry officials, to oversee and coordinate policies across the entire lifecycle of data construction, management, and utilization nationwide, and to establish organic cooperation mechanisms between ministries. To supply field-necessary data in line with AI technology changes, the government will secure and construct high-quality data needed by the private sector, select and open the top 100 high-value AI public datasets, and expand public-private data linkage and openness.
Drug Detection Technology Development Consultation Meeting Held
The Korea Customs Service held an 'AI-Converged Olfactory Sensor-Based Drug Detection Technology Application Consultation Meeting' on May 28 in a joint industrial-academic-research-government initiative. The meeting was attended by representatives from the Korea Customs Service, seven research institutions including the Korea Chemical Research Institute conducting R&D for the Korea Customs Service, and two private companies developing olfactory AI technology. The olfactory sensor, commonly called an 'electronic nose,' is technology that analyzes fine particles in the air to detect and identify chemical substances and converts them into data. The Korea Customs Service, jointly with the Ministry of Science and ICT, launched the 'Customs Administration Field-Customized Technology Development 2.0 Project (Customs Lab 2.0)' in September 2025, investing a total of 19 billion won through 2028 to pursue core research tasks including 'olfactory intelligence technology and system construction for illegal drug detection.'
E-Commerce Business Registration System Launch
The Korea Customs Service announced that it will launch the e-commerce business code registration system on June 5 to apply amendments to Article 254 of the Customs Act to field operations. Registration targets include overseas operators running cyber malls while providing shipping support to Korea, domestic operators running cyber malls or operating as vendors in cyber malls who conduct purchase agency or sales brokerage of cross-border e-commerce goods, and domestic and overseas operators providing shipping agency services for cross-border e-commerce goods from overseas to Korea. The registration method uses the dedicated e-commerce business website (), and the issued e-commerce business code will be used on the dedicated e-commerce customs clearance platform scheduled to open on August 15.
Regulatory Improvements and Administrative Changes
International Mail Drug Detection Secondary Checkpoint Operation Results
The Korea Customs Service reported that the 'drug detection secondary checkpoint' in full operation since April 1 has achieved three successful drug seizures within 60 days of operation, establishing itself as an effective drug interception system. The secondary checkpoint is a dual-inspection system where international mail items that have completed primary inspection at the airport are subjected to X-ray reading and physical inspection again upon arrival at inland mail distribution centers. The operation is currently conducted at five major hubs including Dongseoul, Bucheon, Anyang, and Busan mail distribution centers and the Central Regional Mail and Logistics Center, where approximately 31,000 international mail items per day are screened for drug interception. Within 60 days of operation, a total of 3 cases amounting to 1,159.3 grams of synthetic drugs, cannabis, codeine, and other controlled substances were seized, and the primary checkpoint at the airport strengthened inspection of similar smuggling patterns, allowing for the additional seizure of approximately 1.5 kilograms of drugs.
Joint Drug Interception Inspection Conducted at Correctional Facilities
The Korea Customs Service and Ministry of Justice conducted a joint precision drug inspection at Suwon Detention Center on May 28 to counter attempts to smuggle 'stamp drugs' into correctional facilities. The joint inspection deployed specialized handlers and drug detection dogs from Pyeongtaek Customs along with special judicial police officers from Suwon Detention Center, conducting precise searches of storage warehouses for items with drug smuggling concerns, waiting areas for new inmates, mail and parcel storage facilities, and book and pharmaceutical storage areas. Although no drugs were found during the inspection, the effectiveness of enforcement was heightened by simultaneously utilizing the drug detection dogs' olfactory detection and the Ministry of Justice's drug detection equipment (ion scanners). The Ministry of Justice's focus on blocking drugs within correctional facilities stems from the sharp recent increase in domestic drug offenders, which surged 124% from 3,314 people in 2021 to 7,429 people in 2025, while the proportion of drug offenders among the total inmate population nearly doubled from 6.3% to 11.5%.
Personal Information Protection Commission Discusses MyData International Development Cooperation
Personal Information Protection Commission Chair Song Kyung-hee participated in a panel discussion at the World Bank's Consultative Group to Assist the Poor (CGAP) annual conference held in Paris on May 28 (via videoconference). The panel discussion theme was 'Breaking Down Data Silos to Harness Network Effects,' and Chair Song introduced Korea's comprehensive sectoral MyData adoption experience and institutional framework. Chair Song emphasized that guaranteeing individuals' data transfer rights by law and encouraging active participation from businesses are key conditions for operating the MyData system.
Policy Impact and Future Schedule
Market Impact of National Pension Fund Asset Allocation Adjustment
The upward adjustment of the domestic stock target allocation to 20.8% in 2026 was decided considering structural changes in the domestic stock market and the expansion of actual domestic stock holdings, aimed at enhancing the fund's long-term profitability and stability while mitigating market impact from rebalancing. The fund management committee will continue monitoring market conditions and recheck the strategic asset allocation (SAA) tolerance range at the end of 2026.
E-Commerce Customs Clearance Platform Opening and Import Clearance Procedure Improvement
The Korea Customs Service will launch the e-commerce business registration system on June 5 ahead of the dedicated e-commerce customs clearance platform opening scheduled for August 15 to minimize field confusion. The newly introduced e-commerce goods import declaration and clearance manifest will require mandatory entry of the e-commerce business code, and beginning August 15, the dedicated e-commerce customs clearance platform will enable comprehensive implementation of e-commerce-specialized customs administration including clarified import clearance procedures and importer verification processes for e-commerce goods.
Expansion of Drug Detection Technology Field Application
The Korea Customs Service decided to actively support research development and field demonstration of related technologies by providing test-bed facilities. Through the 'Customs Administration Field-Customized Technology Development 2.0 Project (Customs Lab 2.0)' investing a total of 19 billion won through 2028, more precise drug detection systems are planned by actively utilizing cutting-edge technologies such as AI-converged olfactory sensors (electronic nose). The National Police Agency has also recently begun development of drug detection technology utilizing olfactory intelligence.
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