Korea's sovereign wealth fund directly exercises voting rights for first time

KIC participated in shareholders meetings of Meta, ExxonMobil, TotalEnergies and others

Korea's sovereign wealth fund directly exercises voting rights for first time
Byeong-Hwa Ryu 1
2023-06-01 16:04:51 hwahwa@hankyung.com
Korean Investors

Korea Investment Corporation (KIC), the South Korean sovereign wealth fund, has begun actively exercising its voting rights in invested companies.

According to KIC on Thursday, it participated in shareholders meetings and voting from May 24 to 31 for various companies, including Thermo Fisher Scientific, a US life sciences company, TotalEnergies, a French energy company, Glencore, a Swiss mining company, Meta, the parent company of Facebook and ExxonMobil, a global energy company.

It is also planning to directly exercise its voting rights at the upcoming shareholders meeting of Alphabet Inc., the parent company of Google, on Friday.

"Active ownership and shareholder engagement is an important part of sovereign wealth fund’s investment. KIC’s shareholder voting on its own direction is a meaningful step forward to fulfill stewardship responsibilities,” said KIC CEO Jin Seoungho.

“KIC is committed to enhancing sustainability in global business, thus creating long term value of ESG investments. We are also collaborating with global institutional investors to raise
collective voices to encourage better ESG practices and contribute to effective net zero transition,” he added.

Write to Byeong-Hwa Ryu at hwahwa@hankyung.com
#Korea Investment Corporation #sovereign wealth fund #voting right exercise #Thermo Fisher Scientific #TotalEnergies #Glencore #Meta #ExxonMobil #Alphabet

KIC mulls expanding assets in Asian emerging markets: CEO

KIC mulls expanding assets in Asian emerging markets: CEO

Korea Investment Corporation CEO Jin Seoungho speaks at ASK 2022 conference NEW YORK – Sovereign wealth fund Korea Investment Corporation (KIC) is considering expanding alternative investments in Asian emerging markets, Chief Executive Jin Seoungho said at a meeting with journalists in Ne

S.Korean sovereign wealth fund KIC to set up Mumbai office

S.Korean sovereign wealth fund KIC to set up Mumbai office

Korea Investment Corporation (KIC) Sovereign wealth fund Korea Investment Corporation (KIC) has kicked off procedures to open a Mumbai-based office later this year, The Korea Economic Daily found.The South Korean fund has recently set up a task force team under its investment strategy division

S.Korea's KIC to strengthen responsible investments

S.Korea's KIC to strengthen responsible investments

Korea Investment Corporation CEO Jin Seoungho speaks at the ASK 2022 conference hosted by The Korea Economic Daily in Oct. 2022 Korea Investment Corporation (KIC) plans to actively voice its opinions on portfolio companies' management over the next two years to tighten its responsible investmen

Korean sovereign wealth fund KIC logs record loss in 2022

Korean sovereign wealth fund KIC logs record loss in 2022

Korea Investment Corporation headquarters lobby (Courtesy of Yonhap) Sovereign wealth fund Korea Investment Corporation (KIC) posted the largest annual loss last year since its inception in 2005, according to its 2022 earnings report.The fund saw a record shortfall of $29.7 billion last year

(* comment hide *}