NPS opposes Dong-A’s spin-off plan

The National Pension Service (NPS), said Thursday that it opposes Dong-A Pharmaceutical’s plan to transform into a holding company, arguing it would only benefit the controlling family and undermine the interests of other shareholders.

The pension fund, a main shareholder of the drug producer with a stake of 9.5 percent, made clear that it will vote against Dong-A’s plan to spin off its core...