 |
[Alpha Biz=(Chicago) Reporter Kim Jisun] The National Pension Service has decided to exercise full-fledged shareholder rights against Kakao.
In the process of acquiring SM Entertainment, the company intends to play a role as a major shareholder in the face of growing suspicions of price manipulation and controversy over power abuse and monopoly of major businesses such as taxi calls.
According to the Seoul Economic Daily on the 1st, the National Pension Service disclosed changes in its stake in Kakao and Kakao Pay (377300), changing the purpose of stock investment from simple investment to general investment.
Under the Enforcement Decree of the Capital Markets Act, the National Pension Service, as the largest institutional investor in Korea, lists the purpose of holding stocks and other stocks in a report on the status of large-scale holdings. The purpose of holding is divided into simple investment, general investment, and management participation based on the activeness of shareholder rights. Simple investment is not much involved in management rights because its main purpose is to realize profits. On the other hand, general investment is more active in shareholder rights than simple investment. A shareholder proposal may be made without directly affecting management rights.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
