Samsung Electronics shareholder proposal needs 6.6 trillion won… "Shareholder rights are empty shells, the Capital Markets Act needs a complete overhaul"

At a seminar in Seoul, asset managers and researchers said the revised stewardship code will only work if shareholder meeting rules and capital market regulations are also changed.

They pointed to late disclosure of proxy materials, clustered annual meetings, chair abuse, and cooling-off rules for proxy voting as barriers to institutional investors’ voting rights.

They also flagged the 5% rule’s joint-holding restrictions and high thresholds for shareholder proposals as obstacles that weaken oversight and discipline.

Participants said reform is essential for better corporate governance, higher firm value, and reducing the Korea discount.