Daily Impact Hosts Forum on 'Activist Funds and Governance of Listed Companies'

Jointly with Representative Kim Jong-min and Daily Impact
September 11, 10:00 AM, National Assembly Members' Office Building, Seminar Room 1

A forum seeking the desirable direction of activist funds, which have been showing active movements in the domestic stock market recently, and discussing legal amendment measures to enhance shareholder value will be held at the National Assembly.

Kim Jong-min, a member of the National Assembly and the opposition party's secretary of the Political Affairs Committee, and Daily Impact announced on the 31st that they will hold a forum titled "Activist Funds and Governance of Listed Companies" at 10 a.m. on September 11 in Seminar Room 1 of the National Assembly Members' Office Building.

The most prominent feature of the regular shareholders' meeting season of domestic listed companies in the first half of this year was the movements of activist funds. They attracted attention by demanding various measures to maximize minority shareholders' interests through shareholders' meetings, such as share buybacks, dismissal of directors, and corporate splits.

The market's view of the activities of activist funds is mixed with support and concern. While some evaluate that they are desirable to resolve the "Korea discount," others criticize them as excessive interference in management rights.

The first presenter of the forum, Professor Lee Chang-min of Hanyang University, will discuss the topic "Current Status, Positive and Negative Functions of Domestic Activist Funds," examining the impact of shareholder activities by activist funds such as Align Partners and SM Entertainment on actual corporate governance and suggesting a desirable direction.

The second presenter, Research Fellow Hwang Hyun-young of the Korea Capital Market Institute, will give a presentation on "Legal and Institutional Improvements to Enhance Shareholder Value." Research Fellow Hwang will introduce laws and systems that need improvement and proposals to activate activist funds and shareholder activities.

Following the presentations, an expert discussion will be held under the theme "Are Activist Funds a Remedy or a Poison for Corporate Governance?" Panelists including Professor Lee Chang-min, Research Fellow Hwang Hyun-young, Professor Kim Woo-jin of Seoul National University, Kim Kwang-il, Head of the Fair Market Division at the Financial Services Commission, Lee Chang-hwan, CEO of Align Partners, Kim Hyung-kyun, Head of the Asset Management Division at Chapter Partners, Kim Kyu-sik, Chairman of the Korea Corporate Governance Forum, and Jang Yoon-je, Head of the ESG Research Center at Law Firm Sejong, will participate in the discussion on activist funds.

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