The Financial Supervisory Service Discusses Corporate Governance Improvement Measures with the National Pension Service

The Financial Supervisory Service (FSS) will discuss measures to improve corporate governance with the National Pension Service (NPS) in the form of an open forum.

[Image source=Yonhap News]

According to the financial investment industry on the 2nd, the FSS will hold an open forum on the 12th of this month at the Korea Economic Federation (KEF) building in Yeouido, Seoul, to discuss corporate governance improvement measures with the NPS.

The FSS recently held private meetings with academia and capital market research institutions, and has now arranged a forum with institutional investors who can voice their opinions through exercising voting rights in corporate decision-making processes. There is a growing momentum to accelerate discussions on corporate governance improvement measures, including the expansion of directors' fiduciary duties under the Commercial Act.

The open forum is considered significant by the industry as it gathers major institutional investors such as the NPS, providing an opportunity to gain insight into their opinions.

Additionally, at the open forum, the Asian Corporate Governance Association (ACGA) will present the report "Corporate Governance Watch 2023" (CG 2023 watch), which evaluates corporate governance systems and practices in major Asian countries.

The Korea Financial Investment Association will discuss the role of the financial investment industry. The Korea Chamber of Commerce and Industry, Shinhan Financial Group, and academia will also attend to share their views.