South Korea’s state-run pension fund has invested some $640 million in debt-stricken European countries, a report showed Thursday, sparking concern over losses due to the persistent eurozone sovereign crisis.

The National Pension Service had $639.8 million of exposure to Greece, Spain, Ireland, Italy and Portugal as of June, according to the NPS report. Equity investment reached $339.8 million, with bond holdings making up the remainder.

By country, investment in Italy was the largest at $310 million, followed by $230 million in Greece, $90 million in Ireland, $9 million in Portugal and $800,000 in Greece.

NPS officials said although the pension fund may suffer partial losses, the fiscal crisis in Europe is not likely to have a serious impact on overall investment yields.

“Investments in European nations are relatively minute compared to the NPS’s total overseas exposure of 56.3 trillion won ($49.9 billion),” an official said.

The pension fund operator said it is currently reviewing its investment strategies to counter potential losses from heightened risks stemming from lingering uncertainties in the global financial market.

The NPS is the world’s fourth-largest pension fund with 367 trillion won under its management as of April. (Yonhap News)