According to the financial investment industry on the 30th, the National Pension Service held a trustee responsibility expert committee on the same day and decided on a plan to exercise voting rights in relation to KT’s regular shareholders’ meeting agenda to be held on the 31st.
| ▲ According to the financial investment industry on the 30th, it was reported that the National Pension Service also decided not to approve the re-appointment of three outside directors at KT following Hyundai Motor Group the previous day. |
It is reported that the National Pension Service has decided to oppose the re-appointment of Pyo Pyo, who is also serving as an outside director of Hankook Tire & Technology.
It is known that the National Pension Service opposed Pyo, citing that he had served within the last five years at a company that had an important business relationship with him. Director Pyo served as the CEO and President of Lotte Rental from 2015 to 2018.
In addition, the National Pension Service was found to have made a ‘neutral’ decision on the re-appointment agenda of two outside directors, Professor Kang Chung-gu of the Department of Electrical and Electronic Engineering at Korea University and Professor Yeo Eun-jeong of the Department of Business Administration at Chung-Ang University.
The National Pension Service is the largest shareholder with an 8.53% stake in KT as of February 27, 2023.
Previously, Hyundai Motor Group, the second-largest shareholder of KT, decided to oppose the re-appointment of three outside directors on the 30th.
Hyundai Motor Company and Hyundai Mobis hold 4.69% and 3.1% stakes in KT, respectively. If you combine the two companies, they both have 7.79%, making them the second largest shareholder after the National Pension Service. Reporter Jang Sang-yu
