The National Pension Service cast only an opposing vote on the agenda item to appoint Chae I-bae as an outside director candidate among the items at Hanmi Pharmaceutical's regular shareholders meeting to be held on the 31st.
According to the National Pension Service, it decided to exercise its voting rights against agenda item No. 5, "appointment of an outside director as an audit committee member," one of the items at Hanmi Pharmaceutical's shareholders meeting.
The target of opposition is former lawmaker Chae I-bae, a new outside director candidate, who has worked in the fields of accounting and corporate governance.
The National Pension Service said it determined there is a legal ground for disqualification as a director because approval for post-retirement employment by the Public Official Ethics Committee has not been confirmed. It said this is under Article 30 of the detailed standards for the National Pension Service's stewardship activities.
Aside from that, it supported the remaining items, including approval of Hanmi Pharmaceutical's financial statements and amendments to the articles of incorporation, appointments of internal and outside directors, appointment of audit committee Commissioners, approval of the limit on directors' remuneration, and approval of the plan to hold and dispose of treasury shares (agenda item No. 7).
The National Pension Service held about 11% equity in Hanmi Pharmaceutical as of the end of last year. As of Mar. 20 this year, its equity stake was 10.61%, a slight decrease.
For Hanmi Science, the holding company, the National Pension Service supported all items on the agenda of the regular shareholders meeting, including approval of financial statements, amendments to the articles of incorporation, appointment of other non-executive directors, approval of the limit on directors' remuneration, and plans to hold and dispose of treasury shares.