SEOUL -- The crucial vote Wednesday by South Korea's National Pension Service to remove the head of Korean Air Lines from the boardroom signals that the country's largest institutional investor has turned against the country's sprawling family-run conglomerates, or chaebol.
Companies
Vote against Korean Air chairman jolts chaebol status quo
Public pension fund proved pivotal in kicking boss off board
Korean Air Lines Chairman Cho Yang-ho is seen here attending court in 2018 when he was indicted for embezzling corporate funds. © Reuters
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