13 March 2023

[Unofficial translation provided by Business & Human Rights Resource Centre]

Thank you for your interest in the management of the National Pension Fund, and we would like to respond to your inquiries and suggestions as follows.

In accordance with Article 102 (Management and Operation of Funds) Paragraph 4 of the 『National Pension Act』 and Article 17 of the Fund Management Guidelines, for long-term and stable revenue growth, the National Pension Service is implementing responsible investment, considering factors such as environment (E), society (S), and governance (G) of investees.

The National Pension Service monitors domestic ESG-related incidents and accidents that may affect corporate value, reflects the monitoring results in the National Pension Service’s own ESG evaluation, and uses them not only for fund management but for company engagement depending on the issue.

However, details such as the results of the ESG evaluation and shareholder activities for individual companies are difficult to disclose as they are information used for the selection and management of 'companies subject to private conversation' in accordance with the 「Guidelines on Responsible Activities of the National Pension Fund Trustee」. I hope you understand.

Thank you again for your interest in the management of the National Pension Fund.