National Pension Service Completes Formation of Fund Management Expert Committee... Full-time Members Include Oh Yong-seok, Won Jong-hyun, and Shin Wang-geon

[Asia Economy Reporter Park Jihwan] Three full-time expert members, including Oh Yongseok, a professor at the Financial Supervisory Service Training Institute, have been appointed to the National Pension Fund Management Expert Committee.

On the 24th, the Ministry of Health and Welfare announced that it has completed the appointment of members to the three National Pension Fund Management Expert Committees (Investment Policy, Fiduciary Responsibility, Risk Management & Performance Compensation) established according to the revision of the Enforcement Decree of the National Pension Act and the various regulations including the fund management guidelines approved at the 1st Fund Management Committee meeting.

The three full-time expert members jointly participating in the three expert committees are Oh Yongseok (recommended by employer organizations), Won Jonghyun (recommended by labor organizations), and Shin Wangkan (recommended by regional subscriber organizations). The term of the three full-time expert members is three years, with the possibility of one renewal only. Each will serve as the chairperson of one expert committee for one year, while the other two will act as committee members.

The National Pension Fund Investment Policy Expert Committee consists of the three full-time expert members, three Fund Management Committee members (Lee Sangcheol, Lee Kyungho, Lee Chanjin), and three external experts (Jung Samyoung, Jung Jaeman, Lee Junseo). The committee will discuss major investment criteria and the development or revision of investment policies for the National Pension Fund.

The Risk Management & Performance Compensation Expert Committee is composed of the three full-time expert members, three Fund Management Committee members (Lee Kyungsang, Yoo Jaegil, Choi Gyuwan), and three external experts (Park Younggyu, Kang Byungjin, Lee Hyoseop). It will discuss major risk management and performance compensation policies for the National Pension Fund going forward.

The Fiduciary Responsibility Expert Committee consists of the three full-time expert members and six others: Jung Wooyong and Heo Heeyoung (recommended by employer organizations), Jeon Changhwan and Lee Sanghoon (recommended by labor organizations), and Cho Seungho and Hong Suntak (recommended by regional subscriber organizations). This committee will discuss principles, standards, and methods for exercising shareholder rights and responsible investment measures for the National Pension Fund.

Ryu Geunhyuk, Director of the Pension Policy Bureau at the Ministry of Health and Welfare, stated, "With the completion of the National Pension Fund Management Expert Committee formation, the Ministry of Health and Welfare plans to faithfully support the operation and discussion process of the expert committees to ensure professional and independent decision-making regarding National Pension Fund management."