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[Alpha Biz=(Chicago) Reporter Kim Jisun] According to the Financial Supervisory Service's Electronic Disclosure System (DART) on the 3rd, the National Pension Service announced that it changed its purpose of holding stakes in Kakao, Kakao Pay, BNK Financial Group, Kiwoom Securities, Hyundai Rotem and CJ Korea Express from 'simple investment' to 'general investment' on the previous day.
Institutional investors such as the National Pension Service should report the purpose of holding stakes in listed companies as one of simple investment, general investment and management participation.
Simple investment' can exercise only simple voting rights without influencing or engaging in management rights, while 'general investment' can exercise shareholder rights more actively, such as opposing the appointment of directors, expanding dividends and requesting dismissal of executives of misconduct.
Furthermore, if the purpose of holding stakes becomes 'management participation', it can affect the company's governance structure, such as the appointment or dismissal of company executives.
In fact, in the case of these companies, various suspicions, incidents, and accidents have recently occurred.
Kakao is facing the biggest crisis since its foundation, with its founder Kim Bum-soo being summoned by the Financial Supervisory Service over allegations of market price manipulation related to the stock price manipulation scandal at the time of the acquisition of SM Entertainment.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
