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[Alpha Biz= Kim Jisun] The National Pension Service (NPS) has decided to vote against the proposals regarding the director compensation caps at Hyosung TNC and HS Hyosung Advanced Materials.


On March 13, the NPS Fiduciary Responsibility Committee (FRC) held its 4th meeting and discussed the voting direction on agenda items for the general meetings of shareholders at four companies: Hyosung TNC, HS Hyosung Advanced Materials, POSCO Holdings, and Hite Jinro.


The FRC decided to oppose the approval of the director compensation cap at the upcoming annual shareholder meetings of Hyosung TNC and HS Hyosung Advanced Materials, both scheduled for March 20. The opposition stems from the judgment that the proposed compensation limits are excessive in relation to the compensation amounts. Other agenda items, including the approval of financial statements and the appointment of directors, will receive approval.


As for the general meetings of shareholders at POSCO Holdings on March 20 and Hite Jinro on March 21, the FRC has decided to vote in favor of all the agenda items presented.

 

 

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