[Invest&Law] "Enhancing Corporate Value by Revising Exchange Listing Regulations"

Published 13 Mar.2024 11:30(KST)

Korean Corporate Governance Forum Announces Model Soft Norms

There has been a call to amend the Korea Exchange listing regulations to actively protect shareholder interests and resolve the 'Korea Discount' phenomenon.

The Korea Corporate Governance Forum (Chairman Namwoo Lee) unveiled its self-researched model articles of incorporation, model listing (disclosure) regulations, and corporate governance report guidelines at a press conference held on the 5th at The Forum on the 3rd floor of TWO IFC in Yeouido-dong.

Photo by Baek Seong-hyun, Legal News

Kim Jooyoung (59, 18th Judicial Research and Training Institute), CEO of Hannuri and a director of the forum, stated, "Most articles of incorporation of listed companies are stereotyped, citing provisions from the Commercial Act and related laws. If the articles of incorporation promote the interests of all shareholders and stakeholders, investors can invest with confidence, leading to the development of the capital market."

He further explained the model articles of incorporation, which include provisions such as "in cases of significant organizational changes, directors act in a manner consistent with the interests of all shareholders, and when dissenting shareholders exercise their right to request stock purchase, negotiations are based on evaluations from external agencies."

Kim Gyusik (56, 36th Judicial Research and Training Institute), chairman of the board of SM Entertainment, gave a lecture on the 'Model Listing (Disclosure) Regulations and Corporate Governance Report Guidelines.' Kim proposed improving corporate governance through Korea Exchange regulations.

After the presentations, a panel discussion was held moderated by Chairman Namwoo Lee, featuring Changhwan Lee, CEO of Align Partners, and Myungkyu Kim (40, 9th Bar Exam), lawyer at Truston Asset Management.