Samsung, Korea Investment · KB challenges in the future TDF

[Korea goyounghun financial newspaper reporter] financial year retirement rate of return was not less than the inflation rate. As this is increasing anxiety about retirement assets it has driven renewed interest in target date funds (TDF).

6 days last year had an average yield of financial investments according to established industry, which accounts for the large percentage of the financial benefit pension (DB) is only 1.81%. Insurance was the highest at 2.0%, was the order of 1.98%, including life insurance, securities, 1.82%, 1.44% Bank.

Yield of 1.71% was also contributed a share of 26% of the total gaipaek determinate (DC). Insurance is the most good and to 2.38%, was the order of 2.07%, including life insurance, banking 1.73%, 0.77% Securities. Except for the management fee of around 0.5% annual rate of return is only 1% of the early and mid.

Things looked yireotda management industry is interested in the return on assets retired overcome, will launch the Samsung Asset Management in April last year, second TDF in this industry. The first place is not released a lot of the marketing year have already launched Mirae Asset Mirae Asset baebunhyeong TDF 2011 to scale is not big.

TDF is a popular item sold already 1000 trillion won in the United States. Guess the retirement of an asset allocation fund investors it means applying a program to adjust the portfolio (Glide Path), depending on the life cycle. Samsung has introduced a product management after the Korean simulation optimization TDF Capital Group in the United States and the life cycle of the Koreans. From 2020 to 2045 as a fund of funds invests in 11 funds, which form every five years to hold a total of six funds operated by Capital Group for retirement unit. To construct a portfolio with a combination of sub-funds investing in emerging and high yield bonds, debentures etc. of global bonds. 2045 Fund was the case of the equity weighting to 79% by 2020 yen fund to differentiate equity weighting to 29%.

This month 21 days based on popularity Fund is currently 70 billion won while Molly is the only setting 10 months. Based on the same day cruising down your rate of return is 7.24%.

In addition, the United States got into the default option of applying the annuity instead of a government-approved investment is difficult to determine their own asset allocation for TDF offers a broad choices. Financial authorities are aiming to introduce next year's scheme the default option.

In a recent seminar organized by the Korea Capital Market Institute it has a bar diagnosed trend to deregulate and anger over the recent pension default option combined with TDF spread. Songhongseon Capital Markets Research Fellow, the "default option is introduced, the retirement pensions and personal pensions so as to be the starting point for implementing a market-friendly pension asset retirement Tuesday through formation and innovation is necessary," he said.

Such Samsung Investment Trust Management in South Korea recently TDF system is operating, take care of TDF Korea Investment Fund released and issued a challenge. Last October, the United States signed an MOU tee-Price Inc. and found the speed of the product prepared by the pension department established in 2015.

Korea is operating 89% of total domestic pension market is expected principal and interest guaranteed products looked for defined contribution (DC) type is a good position. By applying domestic blue chip stocks and holding more than 30% of the rest are ways to advance the return to global diversification. It is also planning to raise equity weighting together to overcome the income replacement rate.

Opened last month, Korea Investment funds take care of TDF launches Seminar Series' Jerome Clark tee Price from operations manager, explained that "it is expected that future life expectancy is 90 years old gantry design is important."

KB Asset Management is also planning to tighten the management company Vanguard and related MOU 1 above, two months TDF US market. Since June will launch a menstrual products. The other said he would focus on differentiated products. Vanguard founder John Bogle's index is the fund created by the global financial manager. TDF share of the top two companies in the Vanguard and Fidelity shows the average annual return of 8% over the last five years ryueul.

KB Asset Management side "may be a little slower, but as early as June if more elaborately decorate the lineup," he said.

Mirae Asset Management officials also said that "the market will grow TDF maintenance of previously launched products as is".

Industry insiders are emerging opinion seafood should not blind faith as unconditional because it guarantees the principal investment products should not.



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Yusangho Korea, Shinhan reappointed tactile gangdaeseok

[Korea goyounghun financial newspaper reporter] came back in March shareholders' meeting season. Due to the expiration of the term of the CEO and the outside directors are appointed, including deepening of capital markets also sembeop officials.

The Board of Directors and the shareholders' meeting comes six days, according to the financial investment industry, more than half of the securities of outside directors is expired term. Securities outside directors is characterized by many former officials. Mirae after being treated for integrating the first regular shareholders' meeting is scheduled to be held in 24 days Euljiro Mirae won Centenario building. In the last shareholders' meeting as outside directors of the combined company choehyeonman senior vice president, he was elected vice president gimgukyong.

Council is expected to take place earlier in the bolting hwanggeonho outside directors as chairman of the board, after the shareholders' meeting is expected to be elected as president jounggi Mirae Asset Securities Mirae Asset Daewoo President and madeukrak registered directors.

Daewoo Mirae side said, "for the transparent management of outside directors has recommended a sulfur as Chairman of the Board." Mirae Asset Global Investments has previously recommended gimseokdong former Chairman of the Board of Finance Chairman. Kwang hired the former chief financial information analysis received the credentials of Kim finance chairman of outside directors.

NH Investment & Securities is a concern as to whether the re-elected president gimwongyu. Officers from the day prior to the Nominating Committee of the Board of Directors reappointed whether President Kim term expired two months seems determined day.

It was well acclaimed finish the merger with the prior-year comparative performance with that Woori Securities and NH cooperatives has been reappointed jeomchyeo. NH Investment & Securities is terminated in March followed by the two terms of four outside directors. It seems to be more people outside directors elected last year baksangyong while moving into our bank outside directors.

Korea Investment & Securities has four outside directors were served last year jeongyusin removal. Outside directors are re-elected as whether a term scheduled to expire two months seems to be addressed by the Board of Directors and the shareholders' meeting. Chairman of the Korea Investment & Securities Korea Investment Holdings Vice President in charge of the gimnamgu.

In addition, this month also determines the reappointment yusangho president. The industry is on track to be observed that the 10th reappointed. The president of the Gun Yu professional manager, not the owner taking on the CEO for more than 10 years the first case. Gotta president at the age of 47 in the last 2007 years has also written the youngest.

Samsung Securities is planning to hold a shareholders' meeting scheduled in the morning Gangnam SC Convention Center two months 24 days. Unlike other financial affiliates of Samsung Group CEO has a term of office of the president yunyongam remain for about a year. The four jaehun Samsung Securities Asset Management Division Directors, the outside directors will be appointed by the KDB gimgyeongsu innovation Innovation Committee chairman. The Audit Committee is elected Lee Seung-woo, such as the former president of the Korea Deposit Insurance Corporation, Department of Economics, Seoul National University professor Kim, Sung - Jin.

The HMC to HMC Investment Securities Investment Brokerage is also changing the topic. Two months if the handles matters in 17 Shareholders' Meeting to be held at the Hyundai-Kia Automotive Group is nine years to find the name of modernity. 2008 Hyundai-Kia Automotive Group, but the time to write a mission of IB Securities Hyundai Securities and Hyundai Group to take over the emerging filed a trademark lawsuit was filled disposable ban will eventually accomplish.

But as the second half of last year, Hyundai Securities Securities merged with KB due to the deterioration of the business of Hyundai Merchant Marine Hyundai Securities fell disappearing into history 41 years. In HMC Investment Securities, on extended quickly to preempt the task was to find a brand name today. The shareholders' meeting, the agenda will be treated together also elected as the outside director and soninok beef tendon torture and Professor of Business Administration at Seoul National gobongchan elected president yiyongbae recently appointed a director in a company.

Shinhan Investment Corp. is whether the interest is re-elected president of gangdaeseok the end of three terms of four outside directors. Whether coming June tongyang securities seomyeongseok re-elected president of that term of office expires at this Shareholders' Meeting also determined. Co-President of the re-elected president of the document that is virtually certain, Wei Huang Qing representatives are expected to also be reappointed together. Tongyang securities gotta power 4 outside directors expires this term should also determine whether re-elected. Recently tongyang securities previously determined the signature building in the Amore Pacific is expected to devote more energy to the company's financial soundness in the wake of this Shareholders' Meeting.

One investment banking, merchant banking Outside directors also Meritz Securities is scheduled to expire this month tenure.



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KB Holdings, Woori Bank changed outside directors Testbed

[Korea Jeongseon financial newspaper reporters] # financial institutions did not establish even outside directors elected in accordance with the principles of corporate governance best practices. (A bank holding)

# Another company did not verify that Concurrent anywhere outside directors. (B bank holding)

Banking and financial expertise has re-emerged in the outside directors.

There is also another dimension of strengthening non-banking eopgwon personnel recruitment (KB Financial Group) called the new governance system from the dominant stockholder (our bank). In the case of specialized information and communications technology (ICT) center Internet Bank (K Bank) to fill the financial expertise of outside directors was to be a full-fledged. FSS is to overcome the above problems that the past practices and sanction banks outside directors do not pay attention to proper monitoring and containment capabilities.

◇ "but also professors ..." from the industry mosigi

KB Financial Group opened 24 days last month, the Nomination Committee has recommended Stewart Solomon, former president of MetLife as a new outside director candidates. KB Financial was described as a senior background "is intended to consider the representation of foreign investors account for a significant proportion Advisory Board and enhance the capabilities of the non-banking sector, including the insurance industry."

KB Financial Group was extended for one year the existing outside directors was six terms. Double yen KB Financial choeyounghwi are also included former president of Shinhan Financial Group, Samsung Card yuseokryeol former president he had hired to pack the new camp in the last three years since the so-called 'KB crisis' took place surrounding the host computer 2015 to replace directors.

Eunice Kim Hee outside directors also buhaengjang Citibank Korea, the Hana Financial Group Vice President career. During the seven outside directors are competing Chief Executive Officer (CEO) or the executive who share the count exceeds the half.

KB deemed Finance official said, "The Board of Directors is to go after the stable well-established governance structure since the 2015 corporate governance improvements," said "to maintain the independence and professionalism, and versatility of the Board of Directors desirable for long-term development of KB Financial Group was, "he said.

Each also songgijin yangwongeun, outside directors of Hana Financial Group last month re-elected former Kwangju Bank, former vice president of KB Financial Group Inc. is born. It is similar to the successful privatization of Woori Bank.

Our banks are dominant stockholder recommended as one of the candidates for outside directors Shin, Sang - Hun former president of Shinhan Financial Group were determined gotta back lighting the competitors who recruit outside directors. We rush to the Bank's shareholders oligopolistic banking industry system dominated by five shareholders of securities and insurance, are composed of saoeyi new photos each recommendation. Yigwanggu our bankers while replacing the "test of the new governance of collective management by our Bank dominant stockholder successful privatization," said the "Comments closely with outside directors in an open press conference immediately after this January reappointment decisions newer and stronger I also had to create a bank, "I say.

◇ Pin tech custom search ... Internet Banking yen 'complementary'

K Bank ahead of the launch of the Year of information and communication technology (ICT) based Internet banking professional rather paid its attention on traditional banking personnel recruitment. Of course Shim, Sung - Hoon invited bankers K Bank has led to the bar ICT convergence business group companies as KT origin. But K Bank was supplemented to bring in two people both inside directors from financial institutions. Jeongungi CFO (Chief Financial Officer), who is our banks, the director Kim, Dae - Young Concurrent audit role built a career in banking smart NH Investment & Securities.

Outside Director jungen our bank ohsunmyeong rough around the FSS Financial Consumer Protection Director, the former Shinhan Card Vice President Lee Jae-joung again. Gimseonje current seonggyeoldae is also a professor for life (currently Hanwha Life) from rough financial industry. K for the outside directors, senior bank explained, "it was composed evenly ICT and financial reputation in the business community, academia for a successful project implementation."

Previously existing banks also pay attention to the pin Tech (FinTech) and has a bar with an outside director recruitment related careers. Shinhan Bank hired a professor of Korea University ho March last year, outside directors. Shinhan Financial group of companies will put a pin for tech professionals' digital banking "it is being promoted as a corporate board of directors. Ho, yet Professor of Computer Science professor, underwent Finance Committee Pins Advisory Tech Association. Currently Professor ho is responsible Tech Research Center chapter during the global digital pin occurrences.

◇ new ruling syntax ... Outside director role

Outside Directors is responsible for determining the geochwi an important role of CEO (CEO). Go through a "savings bank crisis' (2011), 'KB crisis' (2014) Financial companies have been required to enhance management transparency. Best practices through an 8-year 'finance law on corporate governance, the background began to be implemented from April. According to a new ruling syntax, it was enhanced qualifications of independent directors.

Concurrent became the first strictly limited. The maximum term is also limited in the company six years, nine years as affiliates combined. If the bank (holding), excluding subsidiaries and other companies outside directors Concurrent is prohibited.

In particular expertise commensurate with financial institutions outside directors are highlighted. "Finance, management, economics, law, accounting, consumer protection sector expertise and rich practical experience" in managing personnel outside director candidates, and should foster haeseoda. Chairman of the Board was to elect annually from among outside directors. Chairman of the Board shall appoint and dismiss the CEO decides on, for example, the settlement, CEO Succession Management and more. Outside Director Nomination Committee within the Board of Executive Officers and the target is also included in the Audit Committee.

Requirements of outside directors of the new syntax is more dominated by banks grew this year (Holding) CEO Greetings overlapping multiple importance. Multiple sosongje representatives of the Commercial Code amendments pending in the National Assembly also considered one of the issues banks outside directors.

Multiple representing sosongje is a system that allows the executive authority iphimyeon damage to the shareholders of the parent company of a subsidiary can be investigated for responsibility. According to the Congressional legislation josacheo of the "Corporate Governance Commercial Code amendment discussions and issues for the 'reports, multi-representative litigation, but this raises the need introduced in" The majority of our country large enterprise groups affiliated subsidiaries reality of a privately held company, "" shareholder rights in subsidiaries infringement, "" such as inhibition independent management "also bujeongron. In the case of a subsidiary outside director finance industry than a financial holding drafts are easy to catch the attention daju representative litigation, etc. points.

Experts put my opinion it is important above all to the expertise of outside directors decide. The high salaries and also "geosugi 'controversial financial firms solve their problems outside directors.

In "Domestic banks outside directors remuneration levels evaluation and challenges' Report of the Korea Institute of Finance gimwoojin senior researcher" is the core of the active Board of Directors is whether you can afford the personnel that much expertise rather than maintenance and the role of outside directors, "said" ex CEO, CFO and HR recruitment, etc. this is important rich financial experience as CEOs, even former officials, if proven expertise in the market is determined that there is no reason to exclude from the outside director candidates, "he suggested.



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Household loans turning blind eye bank conglomerates

[Korea sinyuncheol financial newspaper reporter] went on banks' profitability through large loans. Depending on the policy, financial authorities will turn their eyes to let women business loan reduces the risk borne by the less household loans. It only increase the burden on risk management, but large loans than loans to SMEs are also likely to have a negative impact on the future economy.

◇ large loans increased in one year

Large loans are turned into growth in just one year. It was the last year for shipbuilding, shipping and banking sector restructuring on large companies continue to reduce the goddess engaged doeja recently reduced the expected decrease in household lending margins will turn their eyes back to business loans. According to the banks, Shinhan, Kookmin, one of our cooperatives, including five large commercial banks in late January, the loan balance has increased 2.1655 trillion won to 79.8525 trillion won the previous month. One years of the end of the gun only after large loans increased from the previous month, January 2016.

5 large loans to bank restructuring aftermath shipbuilding and shipping were trying to consecutive minus 11 months since last February. 5 banks of large loans fell to 13.7304 trillion won last year 77.687 trillion won from last year's 92.9871 trillion won in late January. Last year decrease of bank loans is the only thing a large loan. 5 large bank loan balance was increased both between December last year, in January of this year we increased the bank 900 000 000 000 showed the highest growth.

Woori Bank official corporate credit "when you view the recent US protectionist trade policies of China and its large lending outlook is likely to be difficult. So we think the sales and distribution network for the whole game, mainly blue-chip companies and mid-sized businesses, "he said. This year, because I have done business loans give eotgi banks are reported to afford to increase the corporate credit again.

◇ medium-term loans in delinquency negative pressure

According to the Financial Supervisory Service (FSS) of the end of January SME loan delinquency rate (more than one month overdue principal and interest) rose 0.11% points to 0.63%, 0.74% more than a month ago. Enterprise loan delinquency rate fell 0.06 percentage points to 0.71% compared to 0.77% the previous month. SME loan growth of the banking sector last December, based on a mere 5.5% (559.6394 trillion won → 590 1868 1 trillion won). To large loan delinquency rate (to judge to loss treatment that recovery is impossible) June last year it recorded a 2% by court influence of STX Offshore & Shipbuilding and Hanjin Shipping From to October last year, ahead of the year-end write-off of overdue receivables 0% It fell back in.

In the Bank of Korea, Financial Institutions lending behavior survey results forecast for the first quarter of this year SME lending attitudes of domestic banks came to -13. If the interest rate and the Bank will review the response would strengthen the loan conditions, such as roll-wise than the bank announced it would reduce the loan examination-bank lending attitude index is negative ().

Bank lending rates of these companies also are showing the current rising prices. Corporate lending rates of banks in January this year climbing 0.01% p to 3.55% rise was four months. Enterprise lending rates climbed 0.04% p to 3.20% SME lending rate rose 0.02% p to 3.79%. The total lending rate of banks increased 0.07% p to 3.51%. The difference between the lending rate and deposit rate Bank (NIS) has increased by 0.12% p to 2.00% p. NIS is the largest since January 2013, to 10 004 (2.00% p) years. The indicators are banks went on a lending profitability through.



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Kwon, Oh - Jun nakma terms of tactile thundercloud

[Korea's financial standing hyomun newspaper reporters] are likely to come nakma of the term of office of the Chairman Kwon, Oh - Jun POSCO confirmed this to be reappointed at the annual general meeting of shareholders held 11 days has been raised. Because the last two days special prosecutor Park Young - Soo team's president since 2014, senior secured statements and evidence of the influence of presidential action, sikyeotgi transferred to the prosecution. Current Issues Chairman regime change is the possibility of getting rich out the observation situations will not complete the second term.

◇ regime breath circumstances from the time appointed

The president was right to open, and then all the way to doubts dwaetdaneun directly involved in late October last year 'choesunsil gate. In recent years, special counsel in here the last time, in 2014, senior secured gimgichun testimony was directed before mounting the prosecution and was relegated to record investigations.

Accordingly, the forecast has been virtually re-elected president of the books will be finalized before the end nakma a second term have been raised.

Only two future to invite the second term of abuse and risks associated rights situation choesunsil national nongdan of the presidential staff could not be solved neatly suntanchi is expected not rea.

Academic experts requested anonymity 5 days Korea financial newspaper and talk in "The River of Four Reka sale, including allegations two presidents center from the context that from the time appointed Chairman in 2014 is unfair pressure on the government reappointed see that gwayok" he said. After he claimed that "last December criticized even possible impeachment political situation that began in the 'self-reappointed" utilize outside directors on the self-influence in the supervision, the government is monitoring the situation of paralysis. "

In addition, the first "means that there is no qualification as CEO raised this is the context through external pressure, such Economics adhesion gimgichun former chief of staff indicated climbed to POSCO Chairman" and "If the next government to replace Like the previous case volume president he adding that will be discussed is whether to replace CEO ".

Two biggest reasons was the strong performance of the ball is not perfect intellectual rights geotyiji chairman of the global economic boom for the reappointment of the chairman decided to support the existence of tenure nakma. Depending on the global steel industry's demand management capabilities of a large volume president why the improved performance but is not talking.

◇ "it suffered the first loss the following year surplus, improving market power."

Solidarity An official economic reform, but "the last thing in 2015 founded POSCO, which recorded its first deficit has achieved performance improvements noticeable last year, the snow will be in accordance with the boom in the global steel market," he said, "Issues not very that the management capacity of Chairman , according to his view that it is difficult even strong management skills, "he said. He added, "related the Council also need a new configuration," he added, "Joining the extent of the protagonist of the scandal led to POSCO can not be understood by common sense, step aside would not bojineun to keep quiet this in the next government of desirable".

POSCO chief replaced in the same way as in the past, that the next administration comes also raised issues irrelevant. It is inappropriate that they talk about are large volumes president's voice is not eligible as POSCO chairman, replaced as head of the mouth of the regime.

Citizens' Coalition for Economic Justice the parties must continue changing the favorable Council, unlike the "procedure determined the reappointment of course books Chairman and legally," said "if you want to replace the right president in next administration methods of the past CEO to due process "he said.

Meanwhile, POSCO right side not have any defects in the second term of the President, a position already dwaetdaneun is calling on the CEO Nomination Committee.

POSCO Group official said, "There is no idea the president Kwon, Oh - Jun choesunsil ilmyeonsik," he said, "as well as government officials will not know anything pointing to his last one in 2014 elected president at the time." He added, "the last two days gimgichun former chief of staff, chapter president elected intervention raised will be not even confirmed whether or not yet in fact nothing to answer other existing positions in your investigation is in progress in independent counsel and prosecutors," said "already in the CEO Nomination Committee he added undergone verification of that information vocation. "

◇ seconds elected government - resigned midway treadmill after two terms

Former head of the POSCO group, but they all succeed in re-elected, leaving the most part, not the term chaeunchae place. 24 years except for the long-term centralized (2) Park Tae-joon, chairman jeongmyeongsik not invited to fill longitude chairman and one years tenure receded in most 2nd system. In other words, "government took office early-retirement reappointment after the end of the regime when the next administration, the situation can not deviate from that formula.

4 President and Chairman gimmanje was the only outsiders succeeded in reappointed after taking office in March 1994, POSCO President Kim Dae-jung government has entered midway resign on charges including embezzlement March 1998 mission. Yu also injured five presidents succeeded only olratji gimmanje Chairman of POSCO chief, resigned after a successful re-elected President Roh gotta government involvement in the March 2003 initial 'choegyuseon gate. 6 Ku-Taek Lee Chairman (February 2003 - January 2009 3 years) and Chairman Chung 7 (February 2009 to January 2014, three years) also led to the resignation midway after the regime change. As a result, the current regime is strong. President Kwon, Oh - Jun is noteworthy not walk down the street after the resignation of centrist reappointed As with past collections.



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