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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] On the 2nd, the Financial Supervisory Service (FSS) announced that it will hold an open discussion on corporate governance improvement with the National Pension Service (NPS) on the 12th at the Korea Economic Association building in Yeouido. Major institutional investors, including the Dutch pension fund APG, Mirae Asset Global Investments, and Praxis Capital Partners, will also participate.
The discussion comes amid criticism that recent group restructuring processes, such as those involving Doosan and SK, have not adequately reflected shareholder interests. It is expected that the forum will address issues related to directors' duties to shareholders under the Commercial Act and broader corporate governance concerns. FSS Chairman Lee Bok-hyeon criticized last month that decisions favoring controlling shareholders are leading to significant disappointment among domestic and international investors.
The NPS has recently shown an active stance in exercising its voting rights, particularly opposing the merger proposals of SK Innovation and SK E&S due to concerns about shareholder value erosion. Earlier this year, the NPS established a "Corporate Governance Improvement Advisory Committee" to identify issues and propose improvements.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
