Two Outside Directors of NH Investment & Securities Resign Mid-Term After Just Over a Month

[Asia Economy Reporter Yoo Hyun-seok] In the past month, two outside directors of NH Investment & Securities have resigned mid-term.

NH Investment & Securities announced on the 14th that Park Sang-ho, an advisor at Samil Accounting Corporation, resigned from his position as an outside director on the 13th.

Advisor Park had served as an outside director of NH Investment & Securities since March last year. His term was until March 1 of next year. NH Investment stated that the reason for Park's resignation was "personal reasons."

However, inside and outside the financial investment industry, there is speculation that the resignation might be related to disagreements with the management over support measures for customers affected by the recent Optimus Asset Management fund incident.

Earlier, at a board meeting on the 23rd of last month, NH Investment & Securities discussed an emergency liquidity supply plan for customers who subscribed to the Optimus fund but postponed the decision, stating that "more thorough review is needed from a long-term management perspective."

At that time, some outside directors reportedly expressed concerns that if partial prepayment of investment funds were made while the company's legal liability was unclear, it could not avoid accusations of breach of trust.

Meanwhile, prior to Advisor Park, Park Cheol, the lead attorney at Barun Law Firm, also resigned mid-term from his director position at NH Investment & Securities on the 10th of last month. His term was the same as Advisor Park’s, until March 1 of next year.

Park Cheol’s resignation was reportedly due to a conflict of interest issue arising from Barun Law Firm handling criminal cases related to parties involved in the Optimus incident.

With the mid-term resignations of two outside directors, the number of outside directors at NH Investment has decreased from five to three.

President Jung Young-chae, the full-time auditor, and personnel from NongHyup Financial Group and the Central Association total four members. They constitute the majority of the seven-member board.

NH Investment stated, "With the mid-term resignation of outside director Park Sang-ho, we plan to appoint a new outside director at the next shareholders' meeting to be convened."

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