Professor Shin Wang-geon of KAIST Appointed as Chairman of the National Pension Review Committee

Shin Wang-geon, adjunct professor of Management Engineering at KAIST (currently a full-time expert member recommended by regional subscribers), has been elected as the chairman of the National Pension Service (NPS) Trustee Responsibility Committee.

According to the investment banking (IB) industry on the 13th, the NPS Trustee Responsibility Committee elected Professor Shin as chairman. The term is one year. Other full-time expert members, lawyer Han Seok-hoon (Woori Law Firm) and former deputy director Won Jong-hyun of the National Pension Research Institute, will serve as chairmen of two other specialized committees. These are the Investment Policy Committee and the Risk Management and Performance Compensation Committee.

[Image source=Yonhap News]

At the meeting, non-standing expert members in attendance included Professor Kwon Jae-yeol of Kyung Hee University Law School, Deputy Manager Lee Yeon-im of the Korea Financial Investment Association’s Future Strategy Industry Coordination Team, and lawyer Lee Sang-min of Ecell Law Firm. The remaining three members will be appointed by the Ministry of Health and Welfare based on recommendations from financial industry and capital market-related academic societies and research institutions.

Initially, the Trustee Responsibility Committee could only appoint nine members?three each from labor, employer, and regional subscriber organizations?all recommended by subscriber organizations. However, the Fund Management Committee recently revised the operating regulations to allow three of the six non-standing members out of the total nine members (three full-time and six non-standing) to be recommended by financial investment expert organizations.

The Trustee Responsibility Committee decides on major issues regarding the shares held by the National Pension Fund and exercises voting rights according to the National Pension Fund’s voting guidelines. When the National Pension Fund finds it difficult to make judgments independently or when one-third or more of the committee members request referral, the Trustee Responsibility Committee exercises voting rights on behalf of the National Pension Fund for the shares it holds.