Rule revision to require NPS to hire multiple advisers for proxy voting Korea’s state pension fund wants to make more professional and objective voting decisions
Translated by Ryu Ho-joung 공개 2021-10-27 08:08:54
이 기사는 2021년 10월 27일 08:07 thebell 에 표출된 기사입니다.
South Korea’s National Pension Service (NPS) will revise its operating rules to require the pension fund to hire multiple advisers to help it make proxy voting decisions, a move as part of its efforts to enhance objectivity of its decision making process.The state pension fund recently revealed a draft revision and asked opinions from the public by November 5.
One of the key changes is the creation of a new Article 36-2 entitled “Advisory Firms Providing Services concerning Trustees’ Duties”. “This will allow us to use advisory firms to help to make more professional and objective proxy voting decisions,” the pension fund said.
The revision will in principle require the NPS to hire two or more advisory firms each for proxy voting on domestic and overseas companies. The pension fund will be also allowed to hire external experts and advisers for advice on important issues that may have a significant impact on shareholder value.
NPS has its own proxy voting guideline and process in place. Its investment committee is largely responsible for making proxy voting decisions. Issues on which investment committee members fail to reach an agreement are discussed by members of the pension fund’s responsible investment committee.
Earlier this year, NPS saw discord between its investment committee and responsible investment committee over some of proxy voting decisions on Samsung Electronics. This highlighted the need to improve the pension fund’s proxy voting process.
The pension fund had approximately 919 trillion won ($787 billion) in assets under management at the end of July 2021, with exposure to domestic and global equities accounting for 19.5% and 26.2% respectively. (Reporting by Hee-yeon Han)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- 스튜디오산타클로스ENT, 주주권익 보호 '구슬땀'
- 이에이트, AI 시뮬레이션·디지털 트윈 기술 선보여
- MBK, '몸값 2조' 지오영 인수 SPA 체결 임박
- [2024 더벨 글로벌 투자 로드쇼-베트남]한인이 설립한 RCE, 세계 첫 ‘중장비 온라인 중고거래’
- 회계법인 해솔, 부동산 타당성 자문 업무협약
- [2024 더벨 글로벌 투자 로드쇼-베트남]베트남의 지오영 '바이메드'·전기오토바이 '셀렉스' 눈길
- 지아이에스, 코스닥 상장 위한 예비심사신청서 제출
- [꿈틀대는 토큰증권 시장]'업계 표준' 루센트블록, '두자릿수' 레코드 조준
- [Company & IB]조달 '막바지' 롯데그룹, 롯데케미칼에 쏠리는 눈
- '910억 CB 발행' 아스트, 경영 정상화 속도 낸다