Korea. NPS adopting stewardship code

The National Pension Service (NPS), Korea’s largest institutional investor, is adopting a stewardship code that will allow it to engage in management decisions of the companies it invests in. The decision is getting strong opposition from the business community. After holding two meetings since last week, the National Pension Fund Management Committee decided to exercise limited rights when companies it invests in are hurting the interest of its clients, which is the Korean public with pensions, according to the Ministry of...