National Pension Service Supports Samsung C&T Director Appointment...Opposes Director Compensation Cap

[Asia Economy Reporter Park So-yeon] The National Pension Service has decided to support the approval of financial statements and the appointment of directors at the Samsung C&T regular shareholders' meeting scheduled for the 19th.

The National Pension Service's Stewardship Responsibility Committee (Stewardship Committee) held a meeting on the 16th and decided on the direction of exercising voting rights on the agenda items of Samsung C&T's regular shareholders' meeting accordingly.

However, regarding the approval of the director remuneration limit, they decided to cast a dissenting vote citing the reason of 'lack of linkage to business performance.'

For the same reason, the Stewardship Committee opposed the approval of the director remuneration limit at Mando's regular shareholders' meeting agenda. They decided to support other agenda items such as the approval of financial statements and the appointment of inside directors at Mando.

The Stewardship Committee also decided to support two agenda items at Hite Jinro's shareholders' meeting, including the approval of financial statements and the approval of the limit on director remuneration and bonuses.

The National Pension Service's policy on exercising voting rights is determined by the Fund Management Headquarters' internal Investment Committee or the Stewardship Committee under the Fund Management Committee, which is the highest decision-making body. Matters difficult to decide at the Investment Committee are referred to the Stewardship Committee for discussion.

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