S. Korea’s US$600bil pension fund to be more active shareholder

In addition to Samsung, companies affected by the holding purpose changes so far include steelmaker Posco, Korean Air Lines Co, Namyang Dairy Products Co and Celltrion Inc, a major biosimilar maker.

Seoul: South Korea’s biggest pension fund may be set to make its voice heard at dozens of companies including such heavyweights as Samsung Electronics Co.

National Pension Service, which manages 723 trillion won (US$610bil), has changed its officially listed purpose for holding shares in 56 companies to “general investing” from “non-engagement investing, ” according to data from regulatory filings compiled by Bloomberg.