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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] The National Pension Service (NPS) has expressed its opposition to the appointment of Lim Jong-yoon, the eldest son of the founder of Hanmi Pharmaceutical Group, as an inside director of Hanmi Pharmaceutical. This decision comes amidst a management rights dispute between Lim and his mother. Lim Jong-yoon, an executive director at Hanmi Science, expressed his regret over the NPS's stance.
On the 13th, the NPS announced its decision to oppose the appointment of Lim Jong-yoon as an inside director at the upcoming extraordinary shareholders' meeting of Hanmi Pharmaceutical scheduled for the 18th.
The NPS cited Lim's attendance rate at board meetings as the reason for their opposition, stating, "Lim Jong-yoon falls under the category of individuals whose board meeting attendance rate was below 75% during the previous term."
According to the guidelines on the fiduciary activities of the National Pension Fund, they can cast a dissenting vote against individuals whose board meeting attendance rate was below 75% in the previous term.
Lim argued that his non-attendance was a deliberate move to veto decisions by the board, which he claimed was dominated by private equity fund personnel and existing directors who were in collaboration, and that they had marginalized him from business operations to take control of the organization even before the management dispute became public.
He also contended, "It is contrary to the trend of addressing the Korea Discount for the NPS to oppose a shareholder meeting agenda based solely on board meeting attendance rates."
Earlier, in late March, during the climax of the management rights dispute, the reappointment proposal for Lim was not resolved by the Hanmi Pharmaceutical board, resulting in the expiration of his term as an inside director. Following his victory in the management rights dispute, Lim has been pushing for reappointment.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
