On the 27th, Korea Investment Holdings held its regular shareholders' meeting at the headquarters of Korea Investment & Securities Co. in Yeouido, Seoul, and reappointed Chair Kim Nam-gu of Korea Investment Holdings as an inside director for a two-year term. Earlier, CEO Kim Sung-hwan of Korea Investment & Securities Co. also secured a third consecutive term at the shareholders' meeting held the previous day.
Regarding growing concerns over U.S.-origin private credit funds, it noted that among Korea Investment Holdings' affiliates, none outside securities are exposed to the risk. Korea Investment Holdings said, "As far as we have identified, there is no such exposure outside the securities institutional sector," adding, "Considering its equity capital, asset size, and assets under management (AUM), Korea Investment & Securities Co.'s investment weight is not at a worrisome level."
On the possibility of some overseas private credit investments within the integrated managed account (IMA) product, it drew a line against some concerns, saying, "The IMA is designed so that 70% or more is invested in corporate finance, so some private credit can be included within it," and "We are thoroughly managing investment targets, decision-making, and risk management."
It also said it is pursuing the acquisition of an insurer to diversify the group's business structure and is aiming to complete an acquisition within the year. Korea Investment Holdings said, "We have internally set the direction on whether it will be life or non-life insurance, and we are planning to make an acquisition within the year." It added, "Once finalized, we will disclose the relevant details."
Korea Investment Holdings also emphasized that it will make enhancing shareholder and customer value its top management priority to repay customer trust, and that it will make its vision of becoming Asia's leading financial hub visible through a differentiated revenue structure and risk management.
Chair Kim Nam-gu of Korea Investment Holdings said at the shareholders' meeting that day, "We will solidify a principles-based risk management framework to proactively respond to the market's potential threats and protect the asset value of customers and the company."
Regarding shareholder-return policy, it presented a plan to first utilize the separate taxation system for dividend income. It also approved agenda items including deleting the clause excluding cumulative voting, establishing grounds to introduce electronic shareholders' meetings, expanding the scope of the duty of loyalty for directors, and expanding separate elections of outside directors who become audit committee members.