"Reform of national pension governance is disappearing"



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◆ Hearing on the code of stewardship ◆

With regard to the draft National Pension Management Code, former national pension directors emphasized the lack of improvement in national pension governance, including the independence of the headquarters management of the fund.

Although the company intends to exercise the rights of shareholders with the purpose of increasing the value of the company in the medium and long term, she replied that It was insufficient to dispel concerns about political participation and management.

On June 17, former President of the National Bank of Korea, Jeon Woo-woo, who chaired the National Pension Scheme from 2009 to 2013, said: "I doubt we should hurry to strengthen participation rights, "It is desirable to move towards an increase in the value of investment companies in the medium and long term, but the concern is that there is a delay in the governance reform. "

Park Hae-chun, former chairman of the National Pension Foundation, chairman of the National Pension Scheme from 2008 to 2009, also said, "It is hard to say that the government introduced a guideline on shareholder rights and professionalism.

The fact that the special committee of civilian experts was expanded and reorganized to entrust the exercise of the rights of shareholders, there is a somewhat different voice among the former directors. .

Former President Jeon said: "It is not convincing that the effectiveness of decision making is weak and that the responsibility is weak, and so it is not not convincing to entrust the right of ownership to the external committee. "

He added:" There is no law that the decisions taken by the IMF headquarters and the decisions taken by the external committees will always be the same, "he said. I think it's easy to entrust them to the private sector, but that's another dimension to do it. "

President Park said, "It is important that private members can reduce the government's influence on governance, which is strong within government." "It's important to create sub-committees by industry and by size, It must be presented. "

He added: "In order to respond to market concerns, professionalism and independence are a top priority". He added: "The authority itself should be clearer so that shareholders' rights are not exposed to public opinion."

Meanwhile, Minister of Health and Welfare Choi Gwang-joon, who was responsible for the national pension for two years from 2013, showed a keen interest in the introduction of the National Pension Management Code.

[정우성 기자]
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