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[Alpha Biz=(Chicago) Reporter Kim Jisun] The National Pension Service voted against the appointment of Hyosung Chairman Cho Hyun-joon and Vice Chairman Cho Hyun-sang as internal directors.
The National Pension Fund's trustee responsibility committee held its third committee meeting on the 7th and deliberated on the direction of the National Pension Service's voting rights on the agenda of shareholders' meetings of Hyosung, Hyosung T&C, Hyosung Advanced Materials and Hyosung Heavy Industries.
The committee opposed Cho's appointment as an in-house director of Hyosung, citing his history of damaging corporate value, and opposed Cho's appointment as an in-house director, citing negligence of surveillance obligations and excessive concurrent duties. Hyosung's regular shareholders' meeting is scheduled to take place on the 15th.
It also decided to oppose the appointment of Cho Hyun-joon as an in-house director at Hyosung T&C's regular shareholders' meeting to be held on the 14th, and decided to oppose the appointment of Cho Hyun-sang as an in-house director at the shareholders' meeting of Hyosung Advanced Materials on the same day.
Among the agendas of Hyosung Heavy Industries' shareholders' meeting, it decided to approve the appointment of Choi Yoon-soo, a member of the audit committee.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
