ACGA featured in Korea's local news, Yonhap News, and Edaily

2024-11-25

On 25 November, Stephanie Lin, Research Head for Korea and Singapore, delivered a keynote speech, presenting findings from the paper, "Navigating the Korea AGM Maze," at the Korea Corporate Governance Forum's seminar titled "Institutional Improvement Measures to Expand Shareholder Rights for General Shareholders and Foreign Investors." 

The seminar addressed the challenges surrounding the proxy voting system and AGMs in Korea. The panel featured Changhwan Lee, CEO of Align Partners, an ACGA member, Dr. Hwang Hyunyoung, Capital Market Research Fellow of the Korea Capital Market Institute, and Hyun Ju Ku, Attorney at Law at Hannuri Law. 
 
Stephanie's presentation was also highlighted in local news outlets, including Yonhap News and Edaily. 

Stephanie's comments are quoted below.
 
"Companies need to respond to investor inquiries promptly and simplify participation (procedures) in general shareholders' meetings" 
 
"In the case of Taiwan, there is an upper limit on the number of general shareholders' meetings that can be held per day, and in Singapore, large listed companies adjust their general shareholders' meetings to avoid overlapping dates," emphasizing that Korea also needs similar measures”
 
“Lin said that the notice period for convening a general shareholders’ meeting in Korea is short at 14 days, and foreign investors have to make decisions more urgently than domestic investors to analyze the agenda and exercise their voting rights”
 
"To solve this problem, ACGA recommends revising the Korean Commercial Act (which stipulates that notice of a general meeting of shareholders must be given 14 days prior to the general meeting date currently)"