National Pension Plan to exercise neutrality in Korea-U.S. Science Voting Rights in 'Management Dispute'

The National Pension Service has decided to remain neutral in the Korea-U.S. science management dispute.

At an extraordinary shareholders' meeting of Korea-U.S. Science on the 28th, the National Pension Fund's trustee responsibility committee decided to exercise its voting rights "neutral" on the agenda proposed by the mother and daughter, including Song Young-sook, chairman of Hanmi Pharmaceutical Group, and Lim Joo-hyun, vice chairman.

The agenda includes the appointment of Vice Chairman Lim and Hanyang Precision Chairman Shin Dong-guk as directors and the expansion of the number of board members from a maximum of 10 to 11.

Under this policy, the voting rights held by the National Pension Service will be exercised according to the pros and cons of the remaining shareholders.

Hanmi Science is competing for management rights with the "Three-Party Alliance" consisting of Chairman Song, Vice Chairman Lim, and Chairman Shin, the eldest and second son of the same family, Lim Jong-yoon, the executive director of Hanmi Science, and Lim Jong-hoon, the CEO of Hanmi Science.

As the National Pension Service, which owns 6.04% of Hanmi Science shares with voting rights, decides to be neutral, minority shareholder judgments are expected to become more important at the general shareholders' meeting.