Finance Minister Koo Yun-cheol said talks have begun regarding a "new framework" for the national pension fund, aimed at achieving a balance between profitability and stability in the foreign exchange market.

In a rare press conference on Wednesday focused on the forex market, Koo said the pension fund's size has exceeded 50 percent of gross domestic product, ranking third in the world, and that its overseas assets have surpassed the forex reserves.

His remarks appear to reflect Seoul's vigilance regarding the latest exchange rate rise, driven by a combination of the pension fund's overseas investments, individual investors' stock purchases abroad and exporters' dollar holdings.

The minister raised concern that the pension's increased overseas investment could result in a domestic dollar shortage and that, should it dispose of those properties in the future, a weaker won could affect its financing.

A long-term roadmap addressing concerns is set to be discussed by a four-way consultative body comprising the finance ministry, the welfare ministry, the Bank of Korea and the National Pension Service.

The minister said this body will prepare fundamental measures that allow stable pension payouts without undermining the profitability of National Pension Service. 

He said discussions on the new framework are not intended to mobilize the pension fund as a temporary measure to strengthen the won. 

As for the rising exchange rate, the minister pledged to monitor speculative trading and the one-way tipping effect thoroughly, and to respond sternly to excessive volatility.