Norway's wealth fund places 2 South Korean firms on observation

Hansae Co

29/06/2017 09:01

OSLO, June 29 (Reuters) - Norway's $965 billion sovereign 
wealth fund has placed its stakes in South Korea's Hansae Co Ltd 
 105630.KS  and Hansae Yes24 Holdings Co Ltd  016450.KS  under 
observation due to potential ethics violations, the fund said on 
Thursday. 
    "The companies are placed under observation because of an 
unacceptable risk that the companies contribute to, or are 
responsible for, systematic violations of human rights," the 
fund wrote in a statement. 
    Under its operating guidelines, the Norwegian fund may 
eventually exclude companies from its portfolio unless it is 
satisfied that a range of ethical guidelines are met. 
 
 (Reporting by Terje Solsvik, editing by Gwladys Fouche) 
 ((terje.solsvik@thomsonreuters.com; +47 918 666 70; Reuters 
Messaging: terje.solsvik.thomsonreuters.com@reuters.net)) 
 
Keywords: NORWAY SWF/SOUTHKOREA