EquitiesFirst has joined forces with Nasdaq Governance Solutions to publish a series of research reports on corporate governance for selected markets in APAC. We have assembled a team of experts on corporate governance in each of the subject markets to provide background and key insights on the space. These reports are for both investors in and management of listed companies focused on creating long-term value in their enterprises.
The topic areas will range from governance best practices, technological shifts, regulatory trends, communication, investor expectations and other topics tailored specifically to each of the regions.
A Korean version of this white paper is available. We will send it by e-mail, so please apply using the submission form.
이 백서의 국문 버전이 준비되어 있습니다. 이를 이메일로 보내드릴 예정이니 제출 양식을 통해 신청하시기 바랍니다.
This report describes how the Korean market has moved towards “economic democratization” through corporate governance since the Asian financial crisis of 1997.
본 보고서는 1997년의 아시아 금융위기 이후로 한국 시장이 기업지배구조를 통한 “경제민주화”를 향해 어떻게 움직였는지 설명하고 있습니다.
The Asian financial crisis of 1997 exposed a number of flaws in the corporate governance of Korean public companies. Since then, the Korean government has sought to pursue a kind of “economic democratization” by empowering and protecting the interests of all shareholders. The strategies used to address this include:
- Amendments to certain key corporate legislation
- The introduction of a Stewardship Code by the Korea Stewardship Code Council
- The NPS establishing its own Principles for NPS Stewardship
- The introduction of more robust disclosure requirements regarding corporate governance and ESG initiatives.
However, there is still room for improvement as Korea continues to strive to reduce and eventually eliminate the “Korea discount” that has weighed down its public markets through the dominance of controlling shareholders.
“Korea’s Journey to Economic Democratization” was written by Hye-Sung Kim and co-published by Nasdaq and EquitiesFirst. It is the fourth in the series Corporate Governance: Driving Value Creation in Asia Pacific.
Hye-Sung Kim is an attorney at Kim & Chang. Her practice primarily focuses on corporate governance, shareholder activism defense, capital market transactions, mergers and acquisitions, and foreign direct investment.
Over ten years, Hye-Sung has advised numerous multinational and domestic corporations, financial institutions and financial advisors on matters relating to corporate governance (including corporate restructuring and other transactions with potential conflicts of interests), shareholder activism defense, and shareholder engagement planning.
Hye-Sung has been a member of Corporate Review Committee, Korea Exchange since 2020.