President Moon Jae-in says the government will keep irregularities and illegal acts committed by large-sized firms in check by actively exercising the National Pension Service's “stewardship code.” 

Moon made the remark on Wednesday while presiding over the year’s first strategy meeting on the government’s fair economy initiative. 

The stewardship code is a guideline by which the NPS, as an institutional manager of national pension fund, exercises shareholders’ rights in the companies it invests in for the good of the general public. 

Moon said the NPS should faithfully carry out its duty, endowed by the public, and correct companies that commit wrongdoings by holding them responsible. 

Emphasizing the role of large-sized firms in a fair economy, Moon said cooperation with smaller companies is necessary for their own innovation and growth. 

He said successes of the government’s initiative on innovative growth and an inclusive society also depend on a fair economy.