National Pension Service Opposes Director Compensation Limits for Hyosung TNC and Advanced Materials

The 4th Stewardship Committee Meeting Convened

Yonhap News

The National Pension Service has determined that the board compensation limits for Hyosung TNC and HS Hyosung Advanced Materials are excessive and has decided to exercise its voting rights to oppose the relevant agenda items.

On the 13th, the National Pension Fund Stewardship Committee (Stewardship Committee) held its 4th meeting to review the voting directions on shareholder meeting agenda items for four companies: Hyosung TNC, HS Hyosung Advanced Materials, POSCO Holdings, and Hite Jinro.

The Stewardship Committee decided to express opposition to the approval of the director compensation limits at the regular shareholder meetings of Hyosung TNC and HS Hyosung Advanced Materials scheduled for the 20th. This decision was based on the judgment that the compensation limits are excessive relative to the compensation amounts. However, the committee will support other agenda items such as approval of financial statements and director appointments.

Meanwhile, the Stewardship Committee resolved to support the agenda items proposed at the POSCO Holdings regular shareholder meeting on the 20th and the Hite Jinro meeting scheduled for the 21st.