On 20 December 2024, ACGA issued a public letter to members of the National Assembly of Korea expressing ACGA’s support for amendments to the Commercial Law to explicitly recognise the fiduciary responsibility of board members to all shareholders. We understand that this bill is likely to be voted on at the National Assembly in the coming days but is facing fierce resistance from business groups. The letter underscores the need for these amendments to provide more effective board oversight and to improve governance practices in the market.