Economic organizations, "Corporate governance-related amendments to the Commercial Code St. off balance."

Related amendments to the Commercial Code [Korea goyounghun financial newspaper reporter] economic structure, corporate governance groups have complained gender balance tteoleojindago.

Economic organizations such as the Korea Federation of mid-sized companies, KOSDAQ Association, Korea Listed Companies Association have announced a 16-days' Economic Organizations joint statement on corporate governance-related amendments to the Commercial Code.

It delivered a written opinion, including a visit to the National Assembly Legislation and Judiciary Committee lawmakers chamber Judiciary professional wiwonsil.

Group "has The Commercial Code amendment concerns you rather difficult for small and mid-sized businesses," said "are of a publicly traded company that is the Commercial Code amendments mainly regulated enterprises is only 14% and accounted for 86% of small and medium-sized enterprises" he said.

Followed by "audit committee separate elected as focused voting system mandated opposition should" and "differential voting system, poison pill and efficient management rights of defense in the absence domestic situation, given time the majority shareholder of the 3% voting rights limit and the Audit Committee separation elected as the relation management control to be a threat, "he remarks.

Since separate Audit Committee The Audit Committee The election applies only to the installation companies, these companies also said they could face a much higher threat management rights.

The group is due to "was a local leaked more than 1 trillion in sovereign attacks and attacks of Carl Icahn for KT & G for the past SK" and "concentrated voting system side effects such as management rights disputes frequent and the company established aversion major is he said the system has already been shifted to liberalization. "

In addition, minority shareholders, as opposed to ESOP recommendation of outside directors appointed duties. However, multiple derivative suit, introducing mandatory electronic voting system agreed conditionally.

Multiple representing the lawsuit denied legal personality, subsidiaries, shareholder rights violations daehaeseon, saying atrophy can occur subsidiary management activities should be introduced and only insisted that fit the situation.



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