National Pension Service Decides to Massively Oppose Appointment of Samsung Electronics Directors

[Asia Economy Reporter Ryu Tae-min] The National Pension Service plans to cast a large number of opposing votes against the appointment of Kyung Kye-hyun, head of the DS Division (President) at Samsung Electronics, and others at the shareholders' meeting scheduled for the 16th.

On the 11th, the National Pension Service Fund Management Headquarters announced through a disclosure of shareholder rights exercise details that it would oppose the appointment of Kyung Kye-hyun, head of the division, Park Hak-gyu, head of management support at the DX Division (President), and Kim Han-jo, chairman of the Hana Financial Public Welfare Foundation, as directors at the Samsung Electronics regular shareholders' meeting on the 16th.

The National Pension Service explained its opposition to Kyung Kye-hyun and Park Hak-gyu by stating that they are "individuals with a history of damaging corporate value or infringing on shareholder interests." Regarding Chairman Kim Han-jo, it expressed opposition, saying, "He falls under the category of those who neglected their supervisory duties concerning clear acts of corporate value damage or infringement of shareholder interests while serving at the company or its affiliates." It also opposed the appointment of Kim Jong-hoon, chairman of Kisswe Mobile and currently an outside director, as an audit committee member for the same reason of "neglecting supervisory duties."

Meanwhile, as of the end of last year, the National Pension Service holds 8.69% of Samsung Electronics' shares.

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