Pursuits
Korea Fund Has $18 Billion at Stake Backing Samsung on C&T
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In the fight between a foreign hedge fund and the biggest conglomerate in South Korea, the state-run pension may have the swing vote. It will probably side with Samsung Group for reasons that go beyond nationalism.
Korea’s National Pension Service is the biggest shareholder in Samsung C&T Corp. with 10.15 percent of common shares, making its support vital to U.S. activist investor Paul Elliott Singer in his attempt to block a proposed takeover of the company by another Samsung affiliate, Cheil Industries Inc.