National Pension Service to Directly Exercise Voting Rights for Shares of Hanjin Kal and G2AR

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[Asia Economy Reporter Park Jihwan] The National Pension Service (NPS) has decided to retrieve and directly exercise the voting rights of Hanjin Kal and G2R, which are currently fully held by entrusted asset managers.

The NPS Fund Trustee Responsibility Committee (Trustee Responsibility Committee) announced on the 6th that it made this decision at its 5th meeting of the year.

On this day, the NPS Trustee Responsibility Committee decided to retrieve the voting rights of shares held in G2R and Hanjin Kal, which were originally delegated to entrusted asset managers, and to exercise the voting rights directly.

The Trustee Responsibility Committee stated, "Considering that the purpose of the National Pension's stock holdings is currently disclosed as general investment for G2R and management participation for Hanjin Kal, we decided to retrieve the voting rights delegated to the entrusted asset managers."

According to the National Pension Service's 'Entrusted Asset Manager Voting Rights Exercise Delegation Guidelines,' the Fund Management Headquarters delegates voting rights for companies in which it does not directly hold shares to entrusted managers. However, there is an exception clause that allows not delegating voting rights for shareholder meeting agendas involving mergers and acquisitions (M&A) triggering stock purchase rights, key management issues, or unexpected concerns.

The National Pension Service plans to finalize the direction of voting rights exercise after going through procedures according to the Fund Headquarters' agenda analysis and trustee responsibility activity guidelines for future shareholder meeting agendas of G2R and Hanjin Kal.

This content was produced with the assistance of AI translation services.