Shinhan Asset Management becomes first domestic full-service asset manager to join ICGN, strengthening stewardship responsibilities

[Financial News] Shinhan Asset Management has become the first full-service asset manager in South Korea to join the International Corporate Governance Network (ICGN). The company plans to take part in discussions on corporate governance and stewardship with global institutional investors and reflect those discussions in its voting and shareholder engagement activities.
According to Shinhan Asset Management on the 26th, ICGN is an international association established in 1995 and centered on institutional investors, with around 300 organizations from some 40 countries currently participating. Its member institutions manage and administer assets totaling more than $100 trillion.
The global governance principles and global stewardship principles established by ICGN are used as reference standards by investors and regulators in countries around the world as they develop related standards.
Shinhan Asset Management plans to take part in members-only policy working groups and international conferences, among other events, to share key governance issues with global institutional investors. It intends to incorporate the global best practices and policy trends it gains through these activities into its voting guidelines and engagement with investee companies.
Shinhan Asset Management adopted the Stewardship Code in 2017 and established a stewardship responsibility committee this year, chaired by an outside director. After joining the Asian Corporate Governance Association (ACGA) in September last year, the company has now expanded the scope of its cooperation to global markets by joining ICGN.
“This is a step toward expanding cooperation with global investors and strengthening our stewardship framework in line with international standards,” said Son Mi-ji, head of Shinhan Asset Management’s SDGs Strategy Team. “We will reflect this in our voting and shareholder engagement activities and continue to enhance our responsible investment capabilities.”
[email protected] Bae Han-geul Reporter