National Pension Service Supports Jang In-hwa's Appointment, Opposes Cho Won-tae's Reappointment

Samsung C&T Dividend Policy Board Proposal 'Approved'
Korean Air Opposes Appointment of Cho Won-tae as Inside Director

The National Pension Service expressed support for the appointment of Jang In-hwa as Chairman and CEO of POSCO Group.

On the 14th, the National Pension Service's Stewardship Responsibility Committee held its 4th meeting to review the voting directions of the National Pension Service on shareholder meeting agendas of five companies: Korean Air, POSCO Holdings, KB Financial Group, Hana Financial Group, and Samsung C&T.

Regarding the agenda of POSCO Holdings' regular shareholders' meeting (March 21), the committee opposed the approval of the director remuneration limit, judging that the amount was excessive relative to business performance, but decided to support all other agendas, including the appointment of Chairman Jang In-hwa and the reappointment of outside directors.

For Korean Air's regular shareholders' meeting (March 21), the committee opposed the appointment of inside director Cho Won-tae due to negligence in monitoring shareholder rights violations, and also opposed the approval of the director remuneration limit, considering the amount excessive relative to business performance. All other agendas were supported.

At Samsung C&T's regular shareholders' meeting (March 15), the committee supported the board's proposal on profit dividends and the approval of the appropriation of retained earnings, which aligns better with long-term shareholder value enhancement, but opposed the acquisition of treasury stock due to the excessive scale of the acquisition.

All agendas for the regular shareholders' meetings of KB Financial Group (March 22) and Hana Financial Group (March 22) were supported.