By the end of this session, you'll understand what a value system means in the organization
and what the NPS value system is
Understanding the National Pension Service Value System
Hello, manager!
I'm Pension Kim, the new employee
You're so full of energy, just like a new hire
Seeing you gives me hope that our juniors will build
a pension system that truly makes people happy
Yes, I’ll do my best
But Manager, I have a question
Go ahead, feel free to ask
While preparing for my interview, I studied the NPS website in advance
I memorized the vision and strategy,
but now that I'm part of the NPS,
I want to understand what they mean and why they matter truly
Then shall we start by looking into the value system?
A value system reflects an organization's philosophy and guiding principles
It consists of a Mission, Vision, and Core Values
So, understanding the value system means knowing the organization's values
Then, could you start by explaining the mission?
Simply put, Mission is why an organization exists
Between working just for money
and finding meaning and purpose in their work,
the level of happiness and productivity is clearly different
Some employees probably come to work reluctantly,
feeling they have no choice but to earn a living
But if the mission is well-defined and clearly shared,
employees will realize that they're not just working to make a living,
and they'll feel more pride in their work and love for the organization
When the right mission is shared,
employees see each other not as strangers working for money,
but as teammates brought together for a meaningful purpose
As a result, communication improves, emotional conflicts decrease,
and internal unity becomes easier to achieve
This kind of synergy becomes a solid foundation for the organization's long-term growth
So, setting the right mission and sharing it sounds really important
Well, look at you!
Pension Kim, do you know Article 1 of the National Pension Act?
Of course
The purpose of this Act is to contribute to the stability of the people's livelihood and the promotion of their welfare
by providing pension benefits in cases of old age, disability, or death
That's right, we must
actively interpret our legal role to reflect
changes in society and public expectations,
and strive to carry it out through our mission
Then, Manager, what is our Mission?
Our mission is to contribute to a stable and happy life for the people through sustainable pensions and welfare services
Based on our founding purpose, we provide pension benefits and welfare services,
and carry out entrusted programs like disability support and the Basic Pension
Concerns over the sustainability of the system and fund due to low birth rates and an aging population,
the growing importance of retirement planning driven by longer life expectancy,
and rapid paradigm shifts, these changes in the environment have emerged
In response, the revised mission reflects our intent to present
a renewed vision of public happiness throughout the system and institutional operations,
and to contribute to building a nation where people enjoy stability and happiness,
with a clear and steady direction even amid rapid environmental changes
Now, we will take a look at an example of a Mission
Are you familiar with the outdoor apparel brand, Patagonia?
Yeah, the "Don't buy this jacket" ad is pretty well-known
They've gotten even more attention lately for going green and focusing on ESG
Right, Patagonia was founded in 1973 by Yvon Chouinard, who made eco-friendly climbing gear
and that green philosophy continues to this day
To live out their mission,
Patagonia went beyond using eco-friendly materials,
they launched a campaign called "Worn Wear"
Unlike the typical business management focused on maximizing sales,
Patagonia encourages customers to wear their clothes for longer to help protect the planet
and implemented free repair services
Since 1985, Patagonia has donated 1% of its sales each year to support environmental protection
They’ve also made steady efforts for corporate social responsibility,
like using all fair trade materials and strengthening ESG practices
By combining social responsibility with quality products, they’ve achieved steady growth
As of 2021, Patagonia became the second-largest outdoor apparel company in the U.S
Shall we now learn about Vision?
Peter Drucker, an author and management expert,
stated that for any organization to survive and grow in the future,
the organization must establish a vision and goals to pursue in a changing management environment,
it must define a vision and goals suited to the changing business landscape,
which provides the answer to the question, "What is our business, and how should we approach it?"
After hearing the explanation about the vision, I'm curious about what our vision is
Our vision is to be a global leading pension institution that connects generations and adds happiness through pensions and welfare
The vision means enhancing the happiness of all generations
by providing trusted pensions and welfare services people need,
while strengthening our status as one of the world’s top three pension funds
So, considering the fund’s size and global investments,
it shows our commitment to grow to a world-class level
Shall we also learn about the Core Values?
Let's start by looking at examples of Core Values
Let’s take a look at the case of Double A, the company known for its familiar copy paper
As its core values, Double A has set sustainability in environment, society, and economy
Founded in 1991, Double A distributes 100 million seedlings each year to local farmers for 500 won each
Three years later, the farmers sell the trees to Double A for 5,000 to 7,000 won each
This way, Double A secures stable raw materials,
and farmers earn extra income,
creating a win-win for both the company and the community
Double A also uses by-products from paper production
as fuel for its biomass power plants
With a zero-waste policy, they fuel factories and support the local community
Instead of importing raw materials, they grow 400 million trees a year,
absorbing 6.7 million tons of CO2, more than Korea’s annual emissions
With these sustainability efforts,
Double A has continued to grow
and is now Korea’s No.2 copy paper brand,
operating in over 130 countries worldwide
Core values can take various forms depending on what the organization pursues
Some organizations prioritize a family-like internal culture,
while others emphasize competition among employees,
and some aim for a spirit of challenge
Since core values are derived from the shared understanding that they must be upheld even at a loss to the company,
they shape how employees work
Core values that are clearly defined and embraced by all employees can have incredible power
Manager, after reviewing the examples, I’m even more curious about the Core Values of our organization
Please tell me
Yes, our core values are Trust, Innovation, and Communication
Shall we look into what they mean?
Trust was set as a customer-centered value, considering pension reform issues
and our identity as a public service institution
Innovation reflects an organizational value,
aiming to improve productivity and efficiency while delivering services that meet public expectations
Lastly, communication was defined as a core value from the members’ perspective
to promote harmony across generations and departments
Now, I'll make those three core values the standard for how I do my work
I’m glad the value system explanation was meaningful
Next, I'll also explain our management policies
The new management policy reflects the philosophy of our new CEO
A pension of mutual growth, where everyone can be happy
A sustainable pension for the future
It reflects the CEO’s philosophy of creating a pension system
where everyone can share in the benefits
To make this more concrete, we set mutual growth from the public's view,
trust-based management from service's view,
and innovation from the organization's view
To achieve our vision and value system, we need a concrete plan
Based on our business, management environment,
and the CEO’s performance contract,
we set mid- to long-term goals each year
This year’s mid- to long-term plan includes 4 strategic goals and 16 strategic tasks
To achieve our mission and vision,
these goals and tasks cover all areas of NPS, like system operations, fund management, and institutional management
Listening to your explanation, it seems like all parts of the value system are connected
Our mission, vision, core values, and management policy,
they all seem to lead to public happiness
Oh, you’ve been paying close attention
That's right, National Pension exists to ensure the happiness of the people
So, we’ve gone over the entire NPS value system, what do you think?
Now that I understand the meaning behind it, I feel excited
I’ll give it my all for our organization and the happiness of the people
Let’s all do our best together