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National Pension Service remains cautious over Myanmar crisis
Posted : 2021-04-06 15:43
Updated : 2021-04-06 20:59
By Park Jae-hyuk
The National Pension Service (NPS) is maintaining silence on POSCO s businesses in Myanmar.
Amid the steelmaker s continued denial of its ties with the Southeast Asian country s military junta, the state pension service appears to be facing a dilemma, as European institutional investors have begun urging POSCO and other global enterprises to leave Myanmar, in order to prevent possible inflows of cash to the junta.
According to the Financial Times, Park Yoo-kyung, an adviser of the Dutch pension fund, APG, which manages $668 billion, raised questions about POSCO s commitments to responsible investments, saying that a lot of investors are putting pressure on the company.