The National Pension Service has decided to exercise its voting rights in favor of appointing Lee Hae-jin, the founder, as an inside director at Naver.
The National Pension Fund announced that its Stewardship Responsibility Committee held the 5th meeting on the 20th to review the direction of voting rights exercise on agenda items for the shareholders' meetings of nine companies, including Naver.
The committee supported the agenda items at Naver's regular shareholders' meeting scheduled for the 26th of this month, including the return of Lee Hae-jin, Global Investment Officer (GIO), to the board of directors and the reappointment of CEO Choi Soo-yeon (both for inside director appointments).
They also voted in favor of the reappointment of outside director and audit committee member Noh Hyuk-jun, as well as the appointment of outside director and audit committee member Kim Yi-bae.
However, the committee decided to oppose the approval of the director remuneration limit at Naver, citing that the limit is excessive considering the amount of remuneration.
They also opposed the partial amendment of KT&G’s articles of incorporation regarding the method of appointing the CEO and president at the regular shareholders' meeting. The committee judged that the proposed amendment would make it difficult for minority shareholder-nominated directors to enter the board.
Aside from this, the committee decided to support all other agenda items at the regular shareholders' meetings, including the appointment of current Hana Financial Group Chairman Ham Young-joo as an inside director, as well as the approval of financial statements and director appointments at NH Investment & Securities, KB Financial Group, Shinhan Financial Group, Woori Financial Group, Hankook Tire & Technology, and KCC Glass.
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