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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] South Korea’s National Pension Service (NPS) has voted against the appointment of an outside director candidate at Hanmi Pharm’s upcoming annual general meeting, while supporting all other agenda items.
According to the NPS on March 30, it decided to oppose Agenda Item No. 5—appointment of an outside director who will serve as an audit committee member. The opposition targets Chae Yi-bae, a former lawmaker nominated as a new outside director candidate, who has experience in accounting and corporate governance.
The NPS cited concerns over eligibility, stating that confirmation of approval from the Government Ethics Committee for post-public service employment had not been secured, which it viewed as a disqualifying factor under applicable regulations. The decision was made in accordance with Article 30 of the NPS’s stewardship code guidelines.
The pension fund approved all other agenda items, including the adoption of financial statements, amendments to the articles of incorporation, appointments of executive and outside directors, audit committee member appointments, approval of director compensation limits, and plans related to treasury stock holdings and disposal.
As of the end of last year, the NPS held approximately 11% of Hanmi Pharm’s shares, which slightly declined to 10.61% as of March 20 this year.
Separately, the NPS approved all agenda items at the annual general meeting of Hanmi Science, the group’s holding company, including financial statements, articles amendments, appointment of non-executive directors, director compensation limits, and treasury stock plans.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
