National Pension Service Opposes Appointment of Hyosung's Cho Hyun-joon as Inside Director

The National Pension Service opposed the appointment of Cho Hyun-jun as an inside director at Hyosung's regular shareholders' meeting agenda due to a history of damaging corporate value, and also opposed the appointment of Cho Hyun-sang as an inside director citing negligence of monitoring duties and excessive concurrent positions.

On the 7th, the National Pension Fund Stewardship Committee held its 3rd meeting to review the direction of the National Pension Service's voting rights exercise on the shareholders' meeting agendas of four companies: Hyosung, Hyosung TNC, Hyosung Advanced Materials, and Hyosung Heavy Industries.

Regarding the appointment of Cho Hyun-jun as an inside director on the agenda of Hyosung TNC's regular shareholders' meeting, the decision was to oppose due to a history of damaging corporate value.

Regarding the appointment of Cho Hyun-sang as an inside director on the agenda of Hyosung Advanced Materials' regular shareholders' meeting, the decision was to oppose due to negligence of monitoring duties and excessive concurrent positions.

Regarding the appointment of Choi Yoon-soo as a member of the audit committee on the agenda of Hyosung Heavy Industries' regular shareholders' meeting, the decision was to support.